Enquiries & Application
Page updated 16 Mar 2012
Information on enquiries, application, assessment and approval processes for exporters including a checklist of information required from exporters.
Enquiries
The NZECO encourages exporters to make an enquiry with us if you are:
- considering offering credit terms to buyers
- considering, or entering new markets
- being requested by buyers for repayment terms
- being asked by buyers for bonds (bid, tender, advance payment, performance or other forms of bonds)
- requiring working capital to assist your growth, and are at lending limits with your bank.
For our supplier credit, financing and buyer credit guarantees we can provide you with a Letter of Support that describes how the NZECO could guarantee your repayment terms with your buyer along with some indicative pricing. Scroll down to get a checklist of information that exporters should provide the NZECO when seeking an indication of support.
Applications
To view the application and approvals process of each product please view the product pages. Some applications require the support of financiers where they are the guarantee beneficiary.
Assessment
When assessing a potential transaction we undertake a robust credit assessment using financial and non-financial information from the exporter (if applicable), buyer (if applicable), credit report agencies, other Export Credit Agencies, bankers, and other experts and sources of information where required. The NZECO ensures that it also adheres to international rules and internal operational guidelines.
Approval
All transactions are assessed by our underwriters and then recommendations are made to the NZECO Technical Advisory Committee. If a transaction is accepted by our Board a recommendation is made to the Secretary to the Treasury (or their delegate) to approve a transaction.
Information Required from Exporters for Export Credit Guarantee Transactions
NZECO Enquiry
Exporters can use this template email for an export credit enquiry to email NZECO staff. It will launch a draft email message that has the checklist of information required from exporters (below) in the body of the email and is addressed to eco@treasury.govt.nz.
Alternatively, you can copy and paste the checklist text below into a draft email and email it to eco@treasury.govt.nz.
Checklist
Export: What are the goods / services or project?
Country: What is the country of destination?
Value:
What is the approximate value of the entire transaction?
What is the currency denomination for the transaction?
What is the approximate value of the NZ exporter’s share of the transaction (if different)?
What advance payment / deposit will be received by the exporter?
Credit term: What is the length of the credit term the exporter would like to offer the buyer, or is being sought by the buyer?
Financier: Who is your bank (or the institution likely to fund the transaction)?
Disbursements: Will there be progress payments pre-shipment, during the design and build period? If so, for how long?
Buyer:
Who is / are the buyer/s? - Name, Address, Website.
What type of buyer is it? Private, corporate, sovereign?
What experience does the exporter have with the buyer?
What credit information is available on the buyer?
