Authorizations, exposure, and country export data

• Covers Portuguese exporters pre-shipment (manufacturing risk cover) and post-shipment (credit risk cover)
• Manufacturing risk cover: Covers the net loss of the Portuguese exporter in case of cancellation or suspension of a manufacturing process
• Only available in EUR
• Premium is excluded from cover
• Export Credit Risk COSEC: Covers the losses of the Portuguese exporter due to a political or commercial event
• Available in EUR and certain foreign currencies
• Types of cover:
• Individual policy (single-contract)
• Line of credit: Multiple transactions to the same foreign buyer or bank
• Monthly shipping notifications required
• Policy may be assigned to financial institutions
• Fees:
• Application fee
• Offer fee is charged for handling applications for export credit policies at the issuance of the offer and at each offer renewal every 6 months
• Premium according to OECD rules

• Available to private and public buyers of Portuguese exporters
• Tenor, risks covered, and premium determined case-by-case
• Fees:
• Application fee
• Offer fee is charged for handling applications for export credit policies at the issuance of the offer and at each offer renewal every 6 months
• Premium according to OECD rules

• Investment insurance abroad: Covers Portuguese investments (equity, shareholder loans, and bank loans) against expropriation, war, currency transfer, currency inconvertibility, and breach of contract
• Bonds:
• Tender bonds
• Advance payment bond
• Performance bond
• On-demand bonds
• Counter-guarantees and counter-indemnities

• COSECnet online communication tool manages policies

• COSEC provides insurance on its own account (not in the capacity as an ECA), for domestic and foreign commercial risks

• All applications are presented to COSEC and then submitted to the Ministry of Finance for approval