The Exporter may use this type of coverage to obtain financing by discounting trade receivables under a contract. In such case, he may designate the discounting bank as the BENEFICIARY transferring the right to indemnification in case of non-payment of the invoices or bills discounted.

Risks covered and maximum cover percentages

  • Commercial Risks: 99%
  • Political and Extraordinary Risks: 99%

Insurance Detail

  1. The exporter negotiates with his customer an export contract on deferred payment terms.
  2. The exporter turns to CESCE for coverage of the preshipment risk and/or the risk of non-payment by the importer under the Supplier Credit policy.
  3. Once the Agreement formalized Export and Credit Insurance Policy supplier, exporter begins executing the export contract.
  4. If preshipment risk has been covered and contract performance is interrupted or made impossible before the credit risk arises as a consequence of the risks specified in the insurance policy, CESCE shall indemnify the exporter insured, pursuant to the terms established under the policy, for the net final loss deriving from the termination of the contract.
  5. The exporter’s compliance with his contractual obligations gives rise to the importer’s debt towards him, which is the object of coverage.
  6. The importer pays the exporter the deferred price according to the terms and conditions agreed.
  7. In case of non-payment of the importer as a result of the risks specified in the insurance policy, CESCE shall indemnify the exporter insured for the losses deriving from such non-payment according to the terms and conditions established under the policy.


  1. BENEFICIARY BANK: The exporter may designate a bank as beneficiary of his right to indemnification under the insurance contract. Designating the bank as beneficiary may enhance his access to bank financing.
  2. GUARANTOR: In certain transactions a guarantor is needed to ensure payment of the amount owed by the importer to the insured exporter.



  1. The exporter discovers a business opportunity.
    As soon as your company identifies a potential export operation, contact CESCE to find out about the possibilities of coverage. You don’t need to wait until the conclusion of the contract.
  2. The exporter requests coverage under the Supplier Credit Policy.
    To request coverage, e-mail us at admonctadelestado@cesce.es and ask for the modality’s CESNET user codes. With these, you will be able to fill in the application form and send it on-line.
  3. Upon receipt of the application for coverage, CESCE contacts the exporter in order to facilitate access to Ecocheck, the online environmental questionnaire needed to complete the processing of operations with coverages of two years and above.


  1. CESCE processes the application and answers the exporter.
    CESCE studies the application. If coverage of the operation is accepted, CESCE will issue a binding proposal undertaking to cover the operation in the terms approved. The insurance proposal is valid during a specific period of time. In case coverage is not accepted in the terms applied for, CESCE informs the exporter of the decision in writing.
  2. The exporter signs the conditions offered and forwards the documentation.
    The Exporter will accompany the conditions offered, duly signed, with a copy of the commercial contract or of the proforma invoice and the declaration of compliance with the OECD Antibribery Convention.


  1. CESCE sends the policy to the exporter.
    CESCE sends the policy immediately upon receipt of the valid insurance proposal signed by the exporter, together with the copy of the commercial contract or the proforma invoice.
  2. The exporter signs the policy and returns it to CESCE.
    Requisite for the conclusion of the insurance contract
    The exporter returns CESCE the policy duly signed together with proof of premium settlement.
  3. The exporter settles premium.
    Requisite for the conclusion of the insurance contract
    The exporter settles premium in the amount and within the period established under the policy.
  4. CESCE formalises the policy and sends a copy to the exporter.
    Requisite for the conclusion of the insurance contract.
    After due processing, CESCE signs the policy already signed by the insured, sends him his copy together with the premium receipt.

General Conditioning (Spanish version)