With a G7 guarantee, you can cover your warehouse abroad (stock in commission) against political risks. Should your goods kept as stock in commission be destroyed or confiscated due to political reasons, this guarantee will refund up to 100% of the value of the goods.
You are an Austrian export company and have shipped goods abroad which are not yet stored on the client’s premises but in a separate warehouse. The stored goods are still your property. You want to cover this property against political risk.
Our service: Covering your warehouse abroad
With an G7 export guarantee, your stock in commission is covered against political risk. In this context, political risk is understood as a political development or event in the client’s country – such as a war, a revolution or warlike events that lead to the destruction or confiscation of your goods in commission.
Be flexible on site thanks to a coverage
You would like, for example, to operate a spare parts warehouse abroad to be able to quickly access the required materials should import or customs formalities in the target country prevent quick delivery. You can provide better service to your customer abroad with a warehouse in the target country.
Coverage depending on the target country’s creditworthiness
The Republic of Austria assumes up to 100% of damage resulting from political risk 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 risk
Should you require an additional coverage against non-payment risk for selling your goods, you can cover this with a parallel guarantee: G1. The G1 guarantee allows you to cover the entire project for which you are providing the goods. You can find more information on the supplier credit page.
|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 stock in commission 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 the guarantee of your stock in commission abroad directly from us.
If you do not wish to make the application online using my.oekb, please download the application form, fill it in and send it to the Export Services Service Centre by post or by e-mail. 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 our general business conditions and provide us with the SEPA direct debit mandate form.
Our Service Centre would be happy to advise you as to which forms you may additionally need.
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 don't have general access, please fill in the second form.
Any more questions?
If you require more detailed information or an individual consultation, please do not hesitate to contact us.