Manage your UKEF export insurance policy

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This guide is for exporters who have a UKEF export insurance policy in force or who have been offered a policy.

This information may also be useful to the exporter’s broker.

When to pay

Single contract policies

You must pay the premium indicated on the schedule at the same time as you accept the policy.

Multiple contract policies

These cover repeat business with the same buyer, usually over 12 months.

You have to:

You have to pay:

  • within 14 days of each new declaration
  • prior to shipment of goods or provision of services

UKEF does not send invoices requesting payment.

How to pay

You can pay your policy in pounds sterling, euros or US dollars.

Pound sterling

Account number: 31411845

Branch code: 40-02-50

Account Name: Export Credit Guarantee Department

Bank: HSBC

BIC/SWIFT code: MIDLGB22

IBAN: GB52 MIDL 4002 5031 4118 45

Quote your policy reference number

euro

Account number: 68824069

Branch code: 40-05-15

Account Name: Export Credit Guarantee Department

HSBC

BIC/SWIFT code: MIDLGB22

IBAN: GB88 MIDL 4005 1568 8240 69

Quote your policy reference number

American dollars

Account number: 000142794

Account Name: Export Credit Guarantee Department

SWIFT address: MRMDUS33

Federal Reserve Routing Number: 021001088

Bank name and address: HSBC Bank USA 452 Fifth Avenue New York, NY 10005

Quote your policy reference number

How to make a complaint

You may submit a claim for monies owed to you, as long as a claimable event has occurred.

Check your policy wording to find out what counts as a claimable event.

Before claiming, you must have taken all practical steps to prevent or minimize your loss.

UKEF cannot accept claims submitted more than 12 months after the end date shown in your policy.

Claims for non-payment

You can submit a claim for non-payment of an amount due under the insured export contract, if it has remained unpaid for a period of 6 months.

You must inform UKEF if you intend to make a complaint, as soon as possible. Don’t wait 6 months to get in touch about it.

Claims for losses during the pre-credit period

You can submit a claim for costs incurred under the export contract before the goods or services were provided, if:

  • the buyer terminates the contract during the pre-credit period and is at fault, proven by a court decision if applicable
  • political risk arises during the pre-credit period

This only applies if pre-credit cover is included in your policy.

How to get a claim form

If you cannot recover what is owed to you, you can obtain a complaint form by emailing [email protected]

Excess fees

You do not pay any deductible when claiming against your insurance.

If you have an unresolved dispute with your buyer

Before you can make a claim, you may need an arbitration award or court ruling in your favor if there is a dispute between you and the buyer.

An arbitration award or a court decision can reduce the waiting period by 6 months. And if so, you may be able to claim sooner.

Changes you need to report

You must tell UKEF if:

  • you make changes to your export contract, such as changing the goods supplied or new payment terms
  • you learn that the buyer will not pay – you must tell UKEF within 15 days of learning about it
  • the buyer does not pay within 30 days of a due date
  • there are changes to the information you provided in your application which would now make you ineligible.

Failure to notify UKEF of these changes may invalidate your insurance.

You may need to obtain UKEF’s written consent if you make changes to the export contract or agreement.

Notify UKEF of changes by emailing: [email protected]

If you are unsure whether you should notify UKEF of a certain change, you can check using the same email address.

How to report a new export contract under a multiple contract policy

If you have a multiple contract policy, this will cover you for repeat exports to the same buyer, for up to 12 months.
You must declare each new export contract before making the shipment.

Complete a declaration form. You will find this form on the back of your multiple contract policy.

Email it to: [email protected]

Changing your policy

You can request changes to your policy during the coverage period. For example, you can ask UKEF to increase your sum insured.

Email: [email protected] if you would like to discuss changing your policy.

How to renew

The insurance does not renew automatically.

If you need additional coverage and still cannot obtain it from the private sector, you will need to reapply.

Indeed, underwriters must assess the final risks related to your buyer and the export.

How to end your policy

There is no penalty if you no longer wish to insure your export, but it is recommended that you notify UKEF by emailing [email protected]

If you no longer wish to use a multiple contract policy, you must also stop reporting new export sales or contracts.

You cannot get a refund on premiums you have already paid.

Help and support

You can get help from export finance officials if you have questions about using your policy.

Find your nearest Export Finance Manager.

If you used a broker to underwrite your policy, they can also help and advise you throughout the life of your policy.

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