Through its "OUTWARD ORIENTATION" programme, under Law 1796/88, OAEP insures companies that export Greek products against specific risks, at a coverage rate of 80% per invoice and up to the total insurance amount of €1,000,000 (revolving amount) per exporting company. Eligible are invoiced credits with tenor between one and four months.
Advantages for the Exporters
- Insurance against credit risk
- Access to liquidity
- Reduced margin of financing
- Ability to penetrate into new markets
Medium-sized firms and SMEs that export from Greece to abroad either Greek products or products that have gained added value in Greece, to be paid up on a future fixed date.
Limit or lump-sum:
Financing up to €1,000,000
Duration of limit:
Until expiry of the insurance contract and up to one year.
Issued sale invoices on credit to foreign buyers, of a tenor between one and four months, duly pledged, following receipt of the OAEP notification stating that the claims in question are subject to the "OUTWARD ORIENTATION" programme.
Amount of financing:
Equal to the insurance amount under the "OUTWARD ORIENTATION" programme and up to 80% of the invoice value.
20 calendar days following the maximum term of the invoices on credit presented for each financing. Given that eligible for the programme are invoices of a term up to four months, the respective financing period cannot exceed four months and twenty days. Invoices with maturity (including the 20-day period) exceeding the term of the insurance contract shall not be accepted.
3-month Euribor , plus a margin between 4.00% and 4.50%, depending on the exporter's credit score, plus a charge under Law 128/75, and an 0.4% pledge management commission.
The charges for processing and assessing the financing request, as well as for pledge management, each time applicable, are listed under the Charges for Other Banking Transactions .