State Guarantee

Since its creation, in 1969, we are mandated by the Portuguese State to analyze and underwrite the commercial and political risks and manage the whole portfolio of the Officially Supported Export Credits Insurance.

COSEC’s cover as an Export Credit Agency is available when the private insurance market does not offer appropriate or sufficient credit insurance cover. Therefore, our public cover concentrates in emerging and developing countries. Our cover helps Portuguese Exporters to open markets, to give access to more difficult countries and to maintain business relations in challenging circumstances.

Want to be contacted about Officially Supported Export Credit Insurance?

Send us an email to scge@cosec.pt

Officially Supported Export Credit Insurance is an essential tool in promoting and supporting Portuguese export transactions. These insurances protect exporters from losses caused by non-payment of their claims due to commercial or political reasons; it is often a necessary condition for financing of such exports.

The State Guaranteed products managed by COSEC provide you cover and allows you to increase your exports, by covering the risks associated with your transactions, especially to emerging economies and developing countries. Export credit guarantees protect exporters against bad debt losses for commercial or political reasons and in many cases they are a prerequisite for the necessary funding of a transaction to be made available.

Short-Term Export Credit Scheme 

The Short-Term Export Credit Scheme is a COSEC export credit insurance with the guarantee of the Portuguese State, to cover individual export transactions of goods and services with national content, for minimum commitment values of € 10,000.00 and a repayment term of up to 2 years.

Supplier Credit Cover

The Supplier Credit Cover, guaranteed by the Portuguese State, covers individual export transactions against the repayment default of a public or private buyer, arising from political, monetary and catastrophic events, and it can also cover commercial risks.

Buyer Credit Cover

Buyer Credit Cover is a State-guaranteed product which directly covers non-repayment of export financing caused by political, monetary, and catastrophic events, and may also include commercial risk, regardless of the operations’ credit term.

The Investment Insurance Abroad provides cover for political risk insurance for the Portuguese investors against the main political events of Expropriation, War and Transfer and Inconvertibility Risks and where appropriate Breach of Contract.

Under the Portuguese Export Credit System, Bonding Insurance may apply to any legal or contractual obligation entered into by the Portuguese exporter under an export contract.

These bonds are functionally equivalent to guarantees provided by financial institutions.