In today’s international trade, the most usual precondition for the implementation of an export transaction is the possibility to sell on deferred payment terms. In that way, a business relationship with a foreign buyer becomes a credit relationship that incorporates additional costs and risks. Not only you will have to wait for the collection of your receivables longer, but the actual value of such receivables will decrease from day to day.


Competition in the international market is very demanding. Export projects bear a number of risks that are not always obvious. However, they can be reduced by using appropriate instruments of security.


Croatian Bank for Reconstruction and Development insures, for and on behalf of the Republic of Croatia, receivables arising from the export of goods and services against non-marketable commercial and political risks.


Marketable risks, in accordance with the EU regulations, are all commercial and political risks of the debtors located in a Member State of the European Union or the OECD countries, whose duration (including the manufacturing period) does not exceed period of two years, that is, all the risks which can be insured on the private insurance market. All other risks are considered to be non-marketable.


Since the Croatian private insurance market currently does not offer sufficient insurance for all marketable risks, HBOR can, on the basis of the “exemption clause” approved by the Croatian Competition Agency, provide insurance also for a portion of those risks that are not covered in the private markets. In this way, HBOR supplements the existing market offer in line with the European Commission regulations.





Insurance of short-term export receivables for small exporters


Insurance of short-term export receivables


Pre-export financing insurance


Insurance of medium-term to long-term export receivables


Insurance against losses during the production


Insurance of buyer credit or buyer’s bank credit


Insurance of performance-related export guarantees