OeKB's primary objective since 1950 has been the promotion of Austrian exports, which means cover can be given for transactions which directly or indirectly benefit the Austrian current account. On the other hand, OeKB – being the official Austrian Export Credit Agency – also has to follow international guidelines and rules.

Austrian value added/ Non-Austrian Content

OeKB's mandate is to support the export of Austrian goods and services, but due to globalisation, there is a rising demand to insure transactions which include non-Austrian goods and/or services.

Cover available for these transactions will depend on the tenor of the loan and on the country category. Between 50 % and 100 % of non-Austrian content (including local costs) may be included in the cover.
Goods which qualify for an Austrian certificate of origin (according to EU regulations) are considered as 100 % Austrian.

International guidelines

Being the official Austrian export credit agency and acting on behalf of the Republic of Austria, OeKB has to observe all agreements and guidelines within the OECD, the European Union and the Berne Union. These agreements are to ensure a level playing field among all member states.

 

International Regulations

The most important set of OECD rules for export credit insurance and financing (applicable to export contracts with a credit period of two years or more) is the OECD Arrangement (Consensus), which regulates such topics as down payment, local costs, maximum credit terms, minimum premiums for political risks etc.

 

OECD Arrangement (Consensus)