A guarantee for use of machinery, covers your machinery and equipment abroad against political risks. Should your machinery or equipment abroad be destroyed or confiscated due to political reasons, the guarantee for use of machinery will refund up to 100% of the value of your machinery or equipment.
You are an Austrian export company, currently using or planning to use machinery or equipment abroad, and wish to cover political risks in the target country.
For example, you are sending a crane to a less politically stable country to build a bridge there. Once the construction project is completed, your crane must be sent back to Austria. Or you wish to present prototypes of a machine at fairs and exhibitions abroad and have it sent back to Austria afterwards.
Our service: Your risk for the use of machinery abroad are covered
A G7 export guarantee covers the value of your machinery and equipment abroad. In this context, political risk is understood as a political development or event in the client’s country – such as war, revolution or warlike events that lead to the destruction or confiscation of your machinery or equipment.
Coverage depending on the target country’s creditworthiness
The Republic of Austria assumes up to 100% of the damage resulting from political instability depending on the OECD classification of your target export country.
Here you can see a list of countries for which a G7 guarantee can be offered:
Coverage of non-payment risks
Should you plan on selling or leasing your machinery after usage, you can cover the related non-payment risk with a G1 guarantee. The G1 guarantee also offers coverage for your entire project in which the machinery is used.
Here you can find out more about the G1 guarantee.
|Handling fee||0.1% of the sum insured
(minimum 10 euros, maximum 720 euros)
The premium depends on the OECD classification of the target country.
How to get coverage for your use of machinery abroad
- You make an application, ideally online on my.oekb, or in writing, by post or e-mail.
- We evaluate your application and submit it to the advisory board.
- After receiving approval from the advisory board, the Republic of Austria assumes liability and you get your export guarantee.
Your partner in all phases of your project
With the export guarantee, you can carry out your export transactions without having any coverage concerns. We are your reliable partner for covering and financing from day one. Contact us early on so that we support you from the very start with
- Estimate for your calculation
- Letter of intent
- Preliminary commitment
- Guarantee when concluding the contract
It's worth talking to us during the planning phase. We can support you with a reliable estimate for coverage so that you can factor in insurance costs from the very beginning.
Letter of Intent
We can strengthen your position with a letter of intent (LOI) to confirm that we can, in principle, guarantee your project.
As soon as you start negotiating with your business partner and the bank, we can issue you a preliminary commitment that has already been approved by the advisory board. This involves only a minimal handling fee.
Once the contract is concluded, if the risk exposure remains unchanged, you can quickly turn a preliminary commitment into an effective guarantee without the need for further advisory board approval. Keep in mind that it is important to contact us before any risk arises.
As an exporter, you can apply for your guarantee for deliveries and services directly from us. You can make the application online on my.oekb or download, fill in and send the forms by post or by email to the Export Services Service Centre.
Please also take note of our general business conditions.
- Application form for the G7 guarantee (only in German)
- General Business Conditions for G7 guarantees
If you are a new customer, we ask you to acknowledge the general business conditions once and to fill out the SEPA direct debit mandate form.
- Acknowledgement of the General Business Conditions for G7 guarantees (only in German)
- SEPA direct debit mandate
Apply for export guarantees conveniently online
Using my.oekb, you can apply for and manage export guarantees online. If you already have general access to my.oekb, you only need to apply for access to the Online export guarantees service. If you do not have access yet, simply register online here: Online registration Export Services
Any more questions?
If you require more detailed information or an individual consultation, please do not hesitate to contact us.