ECA claim process explained

The ECA claim process is the contractual path from a covered loss event to examination and payment under an export credit agency insurance policy or export credit guarantee. Timelines, evidence and waiting periods are product-specific. UKEF and US EXIM publish operational rules that illustrate how national ECAs administer claims.

Stages in the ECA claim process

Across medium and long-term pure cover, and short-term export credit insurance, the ECA claim process typically requires: occurrence of a defined claimable event (for example protracted default, insolvency or a specified political risk); expiry of any waiting or due diligence period; timely notification and filing; proof of loss and of the underlying export or loan obligation; and compliance with policy conditions on mitigation, reporting and legality. On acceptance, the ECA pays the insured or guaranteed percentage of the eligible loss, up to the maximum liability stated in the policy or guarantee, and usually takes assignment of rights against the obligor for recovery.

Payment mechanics remain national even though Berne Union members share claims and recovery experience as an industry community. Banks holding guarantees file as lenders. Exporters holding insurance file as insureds. Documentation packages differ accordingly. Residual bank risk after cover is the uncovered percentage plus timing risk during the waiting and examination period, plus denial risk if conditions of cover were breached before default.

UKEF export insurance claims

UK Export Finance guidance on managing an export insurance policy states that a claim may be submitted where a claimable event has taken place under the policy wording. Before claiming, the insured must have taken all practical steps to prevent or minimise loss. UKEF cannot accept claims submitted more than 12 months after the end date stated in the policy.

For non-payment, a claim may be submitted for an amount due under the insured export contract that has remained unpaid for a period of six months. UKEF advises early notice of an intention to claim rather than waiting until the six-month point. Pre-credit cover, where included, allows claims for costs incurred before supply if the buyer terminates during the pre-credit period and is at fault (proven by court judgment if necessary) or if a political risk occurs in that period.

Where a dispute exists with the buyer, an arbitration award or court judgment in favour of the insured may be required before claim, and may reduce the six-month waiting period. Claim forms are obtained from UKEF (guidance cites stb.pim@ukexportfinance.gov.uk for the insurance product channel). UKEF's exporter and broker guide states that on acceptance of a valid claim UKEF pays the insured percentage of loss, up to the Maximum Liability in the policy. For credit-period non-payment, the earliest payment point is typically six months after the due date, subject to policy terms and possible earlier payment on evidenced insolvency or related triggers described in the policy.

Reporting duties during the life of cover interact with the ECA claim process: awareness that the buyer will not pay must be notified within 15 days; failure to pay within 30 days of a due date must be reported; and unapproved contract changes can invalidate cover. Those notification clocks are separate from the six-month unpaid period used for non-payment claim eligibility and from the twelve-month post-policy-end filing limit.

US EXIM claims administration

The Export-Import Bank of the United States states that Claims Processing administers claim filings and extensions for medium and long-term guarantees, short and medium-term insurance, and working capital guarantees. Claim applicants must e-file using EXIM Online and report overdue accounts or defaults electronically through the same portal.

EXIM's published insurance claims timeline for short-term insurance describes a filing window of 90 to 240 days after the invoice due date: filing may begin when payment is 90 days overdue, and the final day to file is 240 days after the due date. The same summary lists core documents as the purchase order, commercial invoice with a certain due date, bill of lading, and one written demand for payment. EXIM notes that the timeline is introductory and that complete terms sit in the policy text, applications and endorsements. Other EXIM products use different claim filing deadlines, referenced from the EXIM claims resource page.

Guarantee claims by lenders

Lender-facing guarantees, including buyer credit guarantees, use claim notices rather than exporter insurance claim forms. Validity conditions typically include that a guaranteed payment is due and unpaid, that demand has been made on the borrower and any surety, that prescribed supporting information is delivered within stated business-day periods, and that filing deadlines from first and subsequent defaults are met. Waiting periods and cover percentages are set in the guarantee agreement. After payment, the ECA is subrogated or takes assignment for recovery, and lenders remain bound by recovery cooperation clauses.

Medium and long-term guarantee claims at EXIM are administered by the same Claims Processing function that handles insurance and working capital guarantee claims, with e-filing through EXIM Online. National guarantee wordings differ on whether legal proceedings against the borrower are required before claim; many lender guarantees expressly state that commencement of proceedings is not a precondition to a valid claim notice, while still requiring prior demand on the obligor. Banks therefore diary both the contractual waiting period and the absolute filing cut-offs in the guarantee, because late filing can void an otherwise eligible loss.

Institutional boundary

The ECA claim process does not create a free-standing right to payment outside the policy or guarantee. Premium payment, accurate declarations, licence compliance and timely overdue reporting are conditions of cover. National products differ on waiting periods (six months under UKEF insurance non-payment guidance; 90 to 240 day filing windows under EXIM short-term insurance summaries) and on channels (email claim forms versus EXIM Online e-filing). Credit officers assessing residual risk after ECA cover model both the uncovered percentage and the timing gap between default and claim payment under the applicable wording.