Exporting around the world

Export Credit Insurance Gives Us Security in Business
Management Board
Tvornica tekstila Trgovišće d.o.o.

Top-Quality Fabrics Made in Croatia

With 24 weaving looms, 80 employees and an own design team that has developed more than 2,000 different patterns, Tvornica tekstila Trgovišće d.o.o. (TTT, Trgovišće Textile Factory ) is today the leading manufacturer of damask fabrics not only in the Republic of Croatia but also in the region.

The centuries-old tradition of own production of top-quality fabrics is a guarantee of quality, and the products of the Trgovišće Textile Factory grace the best Croatian and European hotels, elegant English restaurants, and numerous catering facilities and households in demanding markets such as Canada, Switzerland, the UAE, Russia, and the countries of the European Union.

''With the support of HBOR, we managed to overcome the crisis and stabilise the business when it was most needed. Favourable loan terms and conditions enabled us to invest in business development and increase competitiveness, owing to which our products are present all over the world today. We continue to use HBOR's funds for pre-shipment export finance, and the export credit insurance programmes give us additional security in conducting business and collecting payments", point out the representatives of the Trgovišće Textile Factory.

NEW - GUIDE FOR EXPORTERS - all information needed for successful exports in one place

HBOR has prepared a comprehensive Guide for Exporters (Vodič za izvoznike ), which is primarily intended for entrepreneurs who are considering the possibility of exporting or have recently started exporting.

However, many "experienced exporters" will also find that information contained in the Guide can be useful to them, as the Guide serves as a source of helpful information when assessing company's export potential, preparing export plans, selecting and researching foreign markets.

In addition to the information needed in the process of preparing export projects, the Guide also offers a questionnaire with which you can, by answering a series of questions, get an overview of your company's strengths and areas for possible improvements in order to export as successfully as possible.

An interactive map of the world is also available that contains information about individual countries, including the volume of exports to each country and signed trade agreements.

The Guide can be downloaded from the link:



HBOR has a key role in the promotion of Croatian exports through the financing of investment in modernisation of production and new products, working capital for pre-export finance, providing loans for the foreign buyers of Croatian goods and services, issuing of performance-related guarantees and insuring collection of payments for export transactions.

As an export promotion bank, HBOR has developed several programmes to enable exporters to compete in the international market on equal terms. The programmes provide support for exporters throughout the whole export cycle, from the negotiation of an export transaction to the collection of payment for a completed export transaction:
  • Negotiation and public bidding (information on creditworthiness of buyer, tender guarantees, letters of intent)
  • Export contract (financing the preparation of export production, advance payment guarantees, performance guarantees)
  • Export of goods and services (buyer credits, supplier credits)
  • Post-shipment payments and obligations (warranty guarantees)

HBOR has developed special programmes for financing export transactions, through which exporters are offered working capital for pre- and post-shipment export finance and for financing their foreign buyers in major export transactions. In addition to export transactions, exporters are offered favourable loans for modernisation of production and new products as a precondition for increased competitiveness and successful entrance into a foreign market.
By issuing performance-related guarantees, HBOR enables exporters, independently or in co-operation with the exporter’s commercial bank, to participate in international tenders and enter into contracts:
  • Tender guarantees
  • Performance guarantees
  • Advance payment guarantees
  • Warranty guarantees  
Export credit insurance activities are performed by HBOR for and on behalf of the Republic of Croatia, whereby HBOR offers to its clients insurance and reinsurance of receivables against non-marketable and temporarily non-marketable commercial and political risks.

Export credit insurance programmes have been developed in accordance with the needs of the Croatian exporters in order to offer them protection against the risk of non-payment and the risk of inability to perform an export contract as well as in order to facilitate their access to the sources of finance and to provide them support when obtaining export transactions related guarantees from commercial banks.

HBOR has more than 20 years of experience in the field of export credit insurance activities, during the period of which cover has been provided for numerous export projects in the amount exceeding EUR 3.7 billion.

HBOR will continue to be a reliable partner of Croatian exporters and support them in successful carrying out of their businesses abroad.

Currently, the following programmes are offered by HBOR to its clients:

• Insurance of short-term export receivables for small and medium-sized entrepreneurs having an annual export turnover of up to EUR 2 million

• Insurance of short-term export receivables

• Insurance of direct deliveries of goods and services/supplier credits

• Insurance against losses during production

• Pre-export financing insurance

• Insurance of performance-related export guarantees

• Insurance of buyer credit or buyer's bank credit

• Working capital loan portfolio insurance intended for exporters

• Reinsurance of short-term export receivables.

Temporarily non-marketable commercial and political risks are insured and reinsured by HBOR in accordance with the Decision of the European Commission of 17 December 2018, approved for the period from 1 January 2019 to 31 December 2024, and following Communication from the European Commission of 10 December 2021.

Insurance and reinsurance of temporarily non-marketable commercial and political risks by HBOR - Report for 2022.

As a state insurer, HBOR can, directly to exporters, offer the products aimed at insuring receivables from foreign buyers who have their headquarters in EU countries or OECD countries with the maturity (duration of the production and collection period) of up to 2 years (hereinafter: short-term export receivables) provided that the receivables are:

• Short-term export receivables of micro, small and medium-sized entrepreneurs whose volume of annual export turnover does not exceed the amount of EUR 2 million;

• Short-term export receivables based on a single export transaction, i.e. exports towards a single foreign buyer, with the maturity from 181 days to 2 years regardless of the size of entrepreneur;

• Other short-term export receivables for which exporters cannot provide insurance in the private insurance market, e.g. owing to a retreat of a major insurer from the market, reduced insurance capacity in the market or limited range of products in the market when compared with other member states regardless of the size of entrepreneur.

As a state reinsurer, HBOR can provide reinsurance for short-term export receivables to private insurers provided that the receivables are:

• Short-term export receivables for which a private insurer cannot contract reinsurance with a private reinsurer owing to a retreat of a major reinsurer from the market, reduced reinsurance capacity in the market or limited range of products in the market when compared with other member states.

HBOR classifies countries into one of seven risk categories (1-7). Category 1 represents the lowest and category 7 represents the highest level of country risk. more...