Notification of delayed payment/

Notification of received payment

One notification per guarantee. For instructions, see page 2.

1	Guarantee-holder’s name and address

2 EKN’s guarantee number	3 Buyer / borrower and country
4 Delayed payment relates to	5 Received payment
Your reference/ invoice number	Date when the claim arose	Due date	Currency	Principal	Interest (excl. interest on overdue payment)	Date	Amount
6 Are there any other due debts relating to the same debtor which are not covered by the EKN guarantee? YES NO If yes, please specify separately.
7 Assumed reason for non-payment:
Has the buyer/borrower raised objections to the payment obligation? YES NO If yes, describe:
Is there any reason to believe that the buyer/borrower is unwilling to honour the debt? YES NO
8 Has payment been effected in local currency? YES NO
9 When was a reminder letter sent?
10 Please state which further measures have been taken with regard to the delayed payment and measures you intend to take in the future (e.g. demand for payment from any guarantor and reply (if any), enquiry to collecting bank and reply (if any), protest of bill of exchange, contact with local legal representative or agent, etc).

Guarantee-holder’s signature

Date	Signature	E-mail
Contact person	Telephone

2.09e / 181123 / KSo

Special Instructions

General

A guarantee-holder is obliged to notify EKN of certain circumstances under EKN’s general conditions for export credit guarantees dated October 1996.

Among other things, the guarantee-holder is obliged to notify EKN in writing if the debtor has failed to effect payment within one month from the due date for a debt covered by the guarantee. Failure to do so may result in adjustment of any indemnified amount and extension of the waiting period. The right to indemnification is forfeited if EKN is not notified within 12 months from the due date.

All subsequent payments must be promptly reported to EKN in writing after EKN has been notified of delayed payment.

Item 4 Delayed payment relates to

”Date when the claim arose” normally refers to the time when the guarantee-holder fulfils shipment or any similar performance. A claim can also arise by fulfilling a specific production and/or service element, which entitles invoicing according to the contract. In the case of a loan agreement, the claim arises with disbursement of loan proceeds.

Delayed payment has to be notified in relation to every instalment. Please specify the instalment’s principal and the interest, excluding interest on overdue payment, separately.

Item 5 Received payment

EKN must be promptly notified when payment has been received, wholly or in part, in relation to a notified delayed payment. Please use a copy of the acknowledgement sent to you by EKN following your notification of delayed payment.

Item 6 Due debts not covered by the guarantee

Please specify any due debts which are not covered by the EKN-guarantee in a separate enclosure to the notification of delayed payment.

Item 7 Assumed reason for non-payment

The guarantee-holder is obliged to state the assumed reason for non-payment. Please be as specific as possible as to why the debtor has failed to effect payment.

Item 8 Has payment been effected in local currency?

Please specify whether payment has been deposited with such bank or other institution which is entitled to effect the transfer.

Item 9 Has a demand for payment been sent?

A demand for payment must be made to the buyer after the due date of the payment and must contain a request to the recipient to state the reason for non-payment. Failure to demand payment against a third party who has provided surety or suchlike for the debtor’s obligations (e.g. against a guarantor) may result in the claim being not eligible.

Item 10 Further measures

According to EKN’s general conditions, the guarantee-holder is obliged to take all such measures as may reasonably be deemed incumbent on him to avoid or limit loss. The guarantee-holder is expected to act with as much care and prudence, as he would have done if he had not been holding a guarantee. In certain cases, the guarantee-holder shall consult EKN regarding the measures which can be considered necessary to avoid or limit loss.

Failure to fulfil these obligations by the guarantee-holder may result in the indemnification being adjusted, in some cases to nil.

This notification form is mainly designed for notifying delays under export credit guarantees. Delays under other types of guarantee can, however, also be notified by using this form. Please consult the relevant general conditions for the applicable deadline etc.