Short Term Receivable Insurance (KVİKS)
Administers short-term export receivable insurance for Turkish exporters against commercial and political payment risk.
The Short Term Receivable Insurance program, known by its Turkish abbreviation KVİKS, is an export credit insurance product administered by Türk Eximbank, Türkiye's official Export Credit Agency operating since 1987. It protects Turkish exporters against losses on cross-border sales receivables arising from both commercial risks (buyer default, insolvency) and political risks (foreign government actions, transfer restrictions). Coverage is set at 90% of verified losses; the exporter retains a 10% co-insurance portion.
Policies cover receivables with payment terms up to 360 days per shipment. Turkish exporters are eligible provided they operate within buyer credit limits set by Türk Eximbank for each approved foreign buyer and country. Premiums are calculated monthly based on shipment notifications, which must be submitted by the 10th of the following month using Central Bank foreign exchange rates from the previous month's last working day.
The claims and recovery process follows six defined steps: policy activation via the e-branch portal; application for per-buyer credit limits; monthly shipment notifications; declaration of overdue receivables within 60 days of maturity; compensation paid after 4 months overdue; and cooperation in debt recovery proceedings. There is no competitive application window — Turkish exporters enrol via the online branch at eximbank.gov.tr or by calling +90 216 666 55 00.
Export credit insurance covering 90% of losses on cross-border sales receivables (commercial and political risk) for Turkish exporters, on receivables up to 360 days per shipment.
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