Although the Fund is mandated only to provide services to Iranian exporters and investors for their overseas trade and investments, however, based on the belief that for the facilitation of export and trade there should always be a good support for the complete supply chain of exporting companies, the Fund is ready to provide two different sets of services for the exporters and investors.
- The credit worthiness assessment of the foreign suppliers:
When paying advance payments to new foreign suppliers, for the purchase of goods and services from other countries, the Iranian traders are concerned about the seller’s fulfillment of their contractual obligations and delivering the goods and services on time, according to the time schedule and maturities dates of the sales contract and there exist a permanent anxiety on whether the seller is using the received advance payments for the preparation of the goods/services or not. Suh a concern is deepened by the banking restrictions imposed upon trade and there is a lack of bank guarantees or secured means of finalizing sales contracts. Therefore, EGFI, backed by its good relationships and bilateral agreements with international credit rating agencies or based on mutual cooperation with peer ECAs in the seller’s country, is ready to fulfill a thorough creditworthiness assessment of the foreign supplier and reflect any bad performance record of the supplier and prepare a full credit report for the Iranian trader who has or will enter into a transaction with the foreign supplier and picture a better vision for the Iranian buyer to choose a credible and better supplier and finalize a sound transaction and enjoy peace of mind.
- Reformation of EGFI’s Act to support Iranian exporters for their import needs:
The Fund is getting the required permissions from the government to issue all sorts of payment or credit guarantees in favor of foreign suppliers or banks or other peer ECAs or provide insurance cover with minimum franchise, to meet the import needs of export companies as a substitute for import bank guarantees or documentary letters of credit needed by the importers who need to purchase machinery, tools, raw materials, capital or semi capital goods or other intermediary products needed for their production of their exports.