Servizi Assicurativi del Commercio Estero (SACE)
Last updated on 20 Feb 2024

Key facts


SACE provides Italian exporters with a broad range of insurance and financial products.

Piazza Poli 37/42
Rome 00187
Italy

+39 06 6736000

www.sace.it
PUBLIC
1977
Credit rating (Fitch)
BBB
BBB
Foreign currency
Local currency

Berne Union
OECD

Authorizations and exposure


FY 2022 authorizations

Non-financial service
50%
Infrastructure and construction
12%
Chemicals and petrochemicals
9%
Metallurgy
9%
Agribusiness
4%

FY 2022 exposure

Middle East and North Africa

30 %

Americas

23 %

Africa

8 %

Asia and Pacific

5 %

Eurasia

35 %

Financing modalities


`
Up to 100%

Products


  • Export UP: digital trade credit insurance:
    • Single orders or repeat transactions
    • Insurance for non payment
    • Single order: protects against the risk of non-payment and non-recovery of production costs due to revocation of the contract, undue enforcement of guarantees and destruction, damage, requisition and confiscation of exported goods
    • Entirely digital trade credit insurance
    • For transactions up to EUR 10 million
  • Insurance for contract cancellation:
    • Insurance against non-recovery of production costs, which occurs if the execution of the contract is interrupted due to commercial or political events
    • Entirely digital insurance
    • For transactions up to EUR 10 million
  • Safe collections:
    • Insurance of credit portfolio in Italy and abroad
    • Also offers a policy to your bank confirming LCs for the payment of exports
  • For medium-large companies which buy goods and/or services from Italy
  • Corporate, project, and bank financings are possible
  • Interest rate: May be variable or fixed
  • Refinancing of past export contracts of up to 24 months
  • May cover supply orders involving multiple contracts with different Italian companies
  • Credit in high-potential markets at competitive rates with the aim of favoring the acquisition of Italian goods and services or strengthening existing commercial relationships
  • For medium-large companies
  • Green Push, SACE's new solution within the Push Strategy programme, aims to promote Made in Italy exports in support of the international green transition
  • Provided by SACE FCT
  • Modalities: Factoring without recourse , factoring with recourse , maturity factoring and reverse factoring
  • SACE Easy Factoring product:
    • Completely digital product
    • Company must have turnover of at least EUR 500,000 and a positive net worth
    • Company has been established for at least 3 years and has at least 2 employees
    • Any tax debts paid in installments do not exceed 30% of the liabilities
    • Debtor accepts assignment of the credit
    • Company has no ongoing procedures
  • Credit recovery services: SACE manages all the out-of-court and judicial activities and bankruptcy proceedings for the recovery of unpaid receivables, including those originally not covered by insurance, through a network of 200 experts worldwide
  • Training and advisory services:
    • Transfers SACE’s experience in Export Credit and Trade Finance to Export Credit Agencies, ministries, foreign banks, multilaterals and International Financial Institutions, mainly in emerging markets
    • Offered advisory and training services: Establishing an ECA, risk and back office management, and training and advisory on traditional export credit
  • Bond guarantees: Bond financings, underwritten by banks, from the Export Development Fund, promoted by SACE and managed by Amundi SGR or access other alternative finance platforms (basket bond issues)
  • Contractual guarantees and construction works insurance:
    • For Italian companies and their subsidiaries abroad which take part in tenders and carry out works, construction works and orders for foreign parties
    • Instruments include tender bonds, energy bonds, construction bonds, customs bonds, and environmental deposits
    • May be requested online
  • Financing guarantees: Financing and credit lines to support international growth, through investments in production capacity, foreign acquisitions or financing the working capital of orders from foreign customers
  • Construction site and property insurance
  • Investment protection: Political risk insurance for investments abroad
  • Equity solutions:
    • Equity participation in your foreign direct investments
    • For purposes of establishing the company, for capital injection and/or M&A transactions
    • SIMEST takes direct participation in up to 49% of the equity of foreign Italian subsidiary
    • 8 years maximum
    • Interest rate subsidy available if the company is established in a non-EU country
  • Investment plan and working capital financing
    • Finance foreign direct investments, R&D, Capex, but also working capital needed to complete supply orders or to carry out works abroad

Policies


  • Adopted OECD guidelines on corporate social responsibility: recommendations and voluntary standards of conduct regarding transparency, human rights, relations with employees, environmental protection, anti-corruption, and technological innovation
  • Code of ethics requirements by SACE and acknowledgement of code of ethics by each direct counterparty
  • Eligibility requirements are determined on a case-by-case basis
    • Eligible Italian content may have to be at least 20% in many cases

News


  • 2024: SACE signs two collaboration agreements with KazakhExport and Development Bank of Kazakhstan
  • 2023: SACE launches 'Green Push' to promote Made in Italy exports and support the green transition
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