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UK Export Finance

Acumen Credit Insurance Partner
0845 073 8630

UK Export Finance Credit Insurance UnderwriterCompany Overview

UK Export Finance (UKEF) is an established UK government department whose purpose is to grow UK exports. They do this by providing insurance to exporters (Credit Insurance and bond insurance), guarantees to banks to support funding lines for UK exporters and lending directly to companies e.g. to overseas buyers of UK goods.

UKEF’s Credit Insurance complements the commercial market by covering buyers when the commercial insurers are unable to. As such, the cover is typically for developing or emerging markets. The policy is specific to one buyer, can be for single or multiple orders, for work in progress as well as credit risk and will cover the usual causes of loss: insolvency, protracted default, political risk events. Limits are usually non cancellable with premium payable up front. The goods/service being sold must have minimum 20% UK content and, for EU and certain OECD countries, the manufacturing and credit period must exceed 2 years.

 

Strengths

UK Export Finance are the only underwriter to provide single debtor cover for lower value credit limits in emerging/developing markets. Usually able to provide cover when commercial market options are not available.

 

Products and Services

  • Credit Insurance: single debtor export credit insurance
  • Overseas investment insurance
  • Bond insurance: unfair bond calling and fair calling due to political events
  • Bonds Support Scheme: guarantee provided to a bank issuing a bond on behalf of a UK company to support an export contract.
  • Export Working Capital: guarantee issued to a bank to support working capital funding provided for a UK export contract.
  • Buyer support: either direct lending to overseas companies purchasing UK goods/services (minimum contract value £5m) or by providing a guarantee to an overseas bank who provide the funding locally.
  • Supplier credit: guarantee given to a bank to cover payments due under usance Bills of Exchange/promissory notes purchased from a UK company who, in turn, has received them in payment for an export transaction.

 

Acumen Summary

UKEF exist to ensure a commercially workable export order is not lost due to unavailability of risk protection or funding. For credit insurance, they play an essential role for exporters seeking to sell to higher risk markets and/or on longer terms i.e. sales usually beyond the appetite of commercial insurers.

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What Clients Say
  • We have been working with Acumen Credit Insurance since 2007 and have always found them to be professional and thorough in both their approach and delivery of services.

    Media solutions company
    Director of Finance and HR
  • We particularly appreciate their industry knowledge and expertise, both within our particular sector and within the credit industry in general, which has proved invaluable throughout the years in negotiating renewal terms and credit lines thus optimising our competitiveness.

    Media solutions company
    Director of Finance and HR
  • Over the last 8 years we have utilised the services of Acumen Credit Insurance. They provide us with a highly professional service at all times. Their service levels are excellent and they will always strive to secure the best insurance deal possible.

    Fuel company
    Finance Director
  • Acumen Credit Insurance will always go above and beyond the call of duty to answer any request, no matter how big or small. I have no hesitation in recommending the services of Acumen Credit Insurance.

    Fuel company
    Finance Director
  • Ultimate’s credit insurance facilities have been managed by Acumen Credit Insurance for several years and since I have been involved over the last 2 years, I have been provided with excellent service levels and advice.

    Branding, sourcing & distribution company
    Finance Director
Contact Us
  • Head Office
    40 Spring Gardens,
    Manchester, M2 1EN
  • Phone Numbers
    New Enquiries - 0845 073 8630
    Manchester - 0161 687 2382
    Marlow - 01628 482400
    Sheffield - 0114 478 9789
    Leeds - 0113 393 6300
    London - 0203 772 6723
  • E-mail:
    acumen@credit-insure.co.uk
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    Latest News
    • Acumen’s Sale office moves to Manchester City Centre
      January 11, 2019
    • empty shopping centre
      Is the uncertain political climate taking its toll on the high street?
      December 12, 2018
    • IPT credit Insurance
      Feared IPT rate rise appeased in 2018 Budget
      October 31, 2018
    Testimonials
    • We have been working with Acumen Credit Insurance since 2007 and have always found them to be professional and thorough in both their approach and delivery of services.

      Media solutions company
      Director of Finance and HR
    Acumen
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