Is it possible to receive an export guarantee for EU Member States?
No, the LGA does not issue guarantees to EU Member States and individual Organisation of Economic Co-operation and Development member states (Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland, the United States of America).This is prohibited by mutual agreement between these countries.
With which countries are export guarantee issued?
For a list of the countries, which issue guarantees, and the actual country’s risk category look here (links).
What goods may be insured with a LGA export guarantee?
Only those, which have received a certificate of origin issued in Latvia. The relevant certificate of origin is issued by the Latvian Chamber of Commerce and Industry.
At the moment of issue of a LGA export guarantee does a buyer’s contract need to be already signed?
No, a contract does not have to been entered. The planned co-operation conditions may be indicated in the application for the receipt of a guarantee.
Do sector restrictions apply to export guarantees, which are prescribed for credit guarantees?
No, they are not applicable; enterprises from all sectors may apply for the receipt of an export guarantee.
Can an export guarantee be utilised as security for a factoring contract?
Yes, one can, in such case prior to submitting an application; one should consult with the manager of projects at the credit institution.
