06/04/2020

COVID-19: A message from the Department for International Trade

Please find below an update from the Department of International Trade, regarding expansion of Export Insurance Policy provided by UK Export Finance. This provides export insurance for companies, helping to manage risks in challenging markets, ensuring that they get paid even where the private market is not able to offer insurance.

The Export Insurance Policy offers cover against the risk of:

  • not being paid under an export contract
  • not being able to recover the costs of performing that contract because of certain events which prevent its performance or lead to its termination

Details on benefits, eligibility criteria and applications can be found by following the links.

"As the UK goes through this unprecedented period, the Department for International Trade is committed to standing behind businesses and is asking businesses to do their best to stand behind their workers.

We understand that as a business owner or employee, you may be concerned about the impact of coronavirus (Covid-19) on your business, your colleagues and employees.

The Government is supporting businesses and employees through a package of measures to help manage the impact of coronavirus (Covid-19).

These measures include financial support packages for businesses and support for employees' wages.

UK Export Finance (UKEF) has also expanded the scope of its Export Insurance Policy (EXIP) meaning UK businesses will now be eligible to secure export insurance cover to all major markets.
You should now:

1. Visit the Business Support website for more information about these and additional measures and support available to your business. This website will continue to be updated with the latest information.

2. Pay particular attention to the guidance for employees, employers and businesses which is being updated regularly with the latest advice.

3. Read the guidance for UK businesses trading internationally.

4. Take steps to protect yourself and others.

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