Export Credit Risks Guaranteed by the State

Non-Commercial Risks (Political)

Risk of no transfer: measures taken by the public authorities of the country of your foreign client or its guarantor, which has the effect of restricting the latter's ability to transfer the amounts owed to them.
Risk of war and civil unrest: foreign or domestic military actions in the country of your foreign client as well as civil disturbances such as riots, revolutions, coups, insurrections or acts of violence of a public nature that prevent your foreign client or its guarantor to honor their commitments.
Natural disasters: such as hurricanes, floods and earthquakes that occur in the country of your foreign client or its guarantor and that prevent them from honoring their commitments or delaying their payments.
Risk of market disruption of non-commercial origin: losses due to interruption of your market. Export of goods or services originating from a non-commercial risk.

Commercial Risks

The State guarantee is extended to commercial risks which concern important export operations and with an essential interest to the national economy (Extraordinary Commercial Risk). Those risks are guaranteed by COTUNACE and reinsured by the State within the framework of the Export risks Guarantee Fund "FGRE"

Examples of exports guaranteed by the State under the FGRE

EPPM on Saoudi Arabia: an important export engineering market
Tunisian Chemical Group, national leader exporter: very important exports to Cuba, India, Iran, Iraq ...
STEG International Services on Rwanda: Electrification project.
Tunisia Telecom on Mauritania: telecommunication network.
...