Default Alt-Tag

Insuring export business as exporter/bank

Product at a glance

The new OECD Sector Understanding on Export Credits for Rail Infrastructure has been in force since 1 January 2014, and with its more flexible rules it is to take account of the sector’s specific characteristics with made-to-measure cover options. In particular, the repayment terms were extended subject to certain conditions being met.   

The Sector Understanding’s period of validity is initially limited in time until 31 December 2023.

As cover of railway financing schemes Supplier Credit Guarantees and/or Buyer Credit Guarantees are used. Besides, the combination with other forms of cover (e.g. manufacturing risk cover, contract bond cover, Counter-guarantees) is possible.


Target group

  • Supplier credit cover: German export companies
  • Buyer credit cover:
    • German banks
    • German branch offices of foreign banks
    • Foreign banks (under certain conditions)


Payment terms of the covered transactions

The maximum repayment term is 12 years for transactions in Consensus Category I countries and 14 years for transactions in Consensus Category II countries.

Conditions that must be met are that

  • the total order value must be higher than 10 million SDR
    and that
  • the repayment term must not exceed the useful life of the investment.

Conversion of the Special Drawing Rights

For transactions in Consensus Category I the following conditions must be met in addition:

  • There must be a co-financing scheme with other private financial institutions in which state export credit agencies are minority partners with pari passu status until the end of the repayment term. Support by state export credit agencies shall only be granted if less than 50 % of the total loan amount is covered by one or several export credit agencies.
  • The premium must not be lower than market rates for the risk in question and must be commensurate with the corresponding rates charged by the private creditors involved in the project (market test required).


Specific features

Flexible repayment profile possible

If, in exceptional cases, a repayment profile differing from the normal one is chosen, the repayment of principal and interest shall be made in accordance with Article 14 of the Consensus. The maximum weighted average life of the repayment period under Article 14 d) is 6 ¼ years for transactions in Category I countries and 7 ¼ years for transactions in Category II countries.



The premium rates set out in the current schedule of fees and premium rates apply; in the case of a flexible repayment profile it will be taken into account accordingly when determining the horizon of risk.

For transactions in Consensus Category I a market test must normally be carried out.


Uninsured portion

  • Under supplier credit cover
    • 5 % for political risks
    • normally 15 % for commercial risks
  • Under buyer credit cover 5 % for all risks

This product can be applied for online.

Please use the digital application form in the myAGA customer portal to apply for cover for your export transaction. To do this you need to register for my AGA once which is easily done with just a few steps. If you already use myAGA, you can directly log in with your access data. If you need assistance with the application or if you have any questions regarding the appropriate product, please do not hesitate to contact our business consultants.


- Customer Service

Please do not hesitate to contact us!

Jennifer Loewen

OECD Consensus, Sector Understanding Rail infastructure

Sebastian Arndt

Ship Financing, Railway Financing

Country cover policy of more than 200 countries.