Export Risk Guarantee
The Export Risk Guarantee (ERG) is an instrument of state export promotion : For complex transactions such as the Ilisu dam is about credit terms of 10 years or more. In countries like Turkey there is a risk that the companies involved will no longer receive any money. That is why the countries of origin or state credit institutions take on part of the financial risk of these companies with the ERG .
Switzerland
In Switzerland , the possibility of a state export risk guarantee has existed since 1934. Today it no longer matters whether the customer is a state or a private company. The premium for this insurance is based on the level of the estimated risk.
On January 1, 2007, the export risk guarantee ( ERG ) administered by the federal government was replaced by the Swiss export risk insurance (SERV).