Applying for a guarantee
Terms and conditions
Amongst other things, your application should include details of the terms of payment and the interest payable on the loan. We will be happy to calculate this for you should you so wish.
Any non-standard timeframes (e.g. loan duration) must be justified, for instance with reference to the competitive environment.
An anti-corruption declaration must be submitted along with the insurance application in any case.
Your application will be assessed by SERV and passed on to the Board of SERV for consideration. The Insurance Committee meets every two weeks to approve transactions. Applications should be submitted seven working days before the Committee's meeting date. For transactions requiring additional assessments (private buyer risk insurances or guarantors not recognised by SERV), there will be an additional processing time of one to four weeks. You will be notified of the decision in writing.
Shortly afterwards, the guarantee facility - the definitive confirmation of cover - will be opened by SERV and sent to you. The guarantee facility sets out all the relevant information regarding the export transaction, lists the insured risks with the corresponding cover ratios and includes the calculation of the SERV premiums.
Should you, in your capacity as exporter, wish to assign your rights under a guarantee, you must notify SERV in writing on the application form. Subject to SERV approval, both you and the new beneficiary will receive written confirmation of the applicable arrangements on payment of the insurance premium.
Any changes to the terms and conditions of the underlying contract (in particular, type and volume of goods or services, delivery value, local costs, foreign deliveries, escalator clause, payment terms, the delivery schedule, commencement of operations and loan repayments) must be approved by SERV in writing.
An environmental questionnaire must be completed for environmentally sensitive export transactions with a delivery value of over CHF 10 million.
The emerging markets questionnaire must be completed for export transactions with a delivery value of over CHF 10 million for poorer emerging countries.
The relevant additional questionnaire together with the three most recent audited annual reports of the buyer must be submitted with the application for private buyer risk cover.
You can find all the required forms and other information about SERV here:
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