Guidance: Bond Support Scheme

Uk Export Finance

August 23
14:23 2022

Our Bond Support Scheme provides partial guarantees to banks in support of UK exports to help banks meet demand for contract bonds.

When an exporter wins an export contract, they may be required to provide a contract bond. One solution could be for the exporters bank to issue the required bonds to the overseas customer on the exporters behalf.

However, in order to provide this bond, the bank is likely to require collateral (in the form of a cash deposit) to secure the bond, which could put pressure on the exporters working capital or cash flow. We can provide a guarantee of up to 80% of the value of the bond. This allows banks to release the cash needed to secure the bond for the exporter to use as working capital.

There is no maximum value for each bond and no maximum or minimum term for a guarantee.

How it works

Bond Support Scheme


Under the scheme banks:

  • can issue a bond (or indemnify the issue of) a bond without incurring the full risk
  • may increase the amount of working capital available to the exporter by relieving pressure on the exporter due to the requirement to provide cash deposits as collateral to secure the bond
  • receive a guarantee from UKEF to cover the percentage of the amount due to it if the exporter fails to reimburse the bank following a call being made on the bond by the buyer
  • may, for the duration of our guarantee, be able to increase its risk appetite for the exporter

Eligibility criteria

To be eligible for support under our Bond Support Scheme, the transaction must satisfy UKEFs eligibility criteria, which includes the requirements that:

  • the exporter must be carrying on business in the UK
  • the exporter must have entered, or be intending to enter, into a contract for the supply of goods and/or services with a company or other organisation that carries on business outside the UK

All transactions supported by UKEF must satisfy:

The transaction may not be supported if there are sanctions imposed on the country of the overseas customer.


The guaranteed bank pays us a guarantee fee. This is a proportion of the fee the bank receives from the exporter for issuing (or indemnifying the issue of) the bond.

How to apply

To access Bond Support, exporters should discuss their potential application with their bank.

Exporters who bank with one of the names listed below may be able to benefit from a streamlined process. Five banks have signed up to access the scheme directly. There is no need to fill in any of the forms on this page.

To find out more about our Bond Support Scheme or to discuss eligibility for our support, contact our customer services team.

Contact or call +44 (0)20 7271 8010.

Contact details for approved lenders

Access our Bond Support Scheme directly through your bank

You do not need to complete the forms on this page if you bank with:

  • Barclays Bank Plc
  • HSBC UK Bank Plc
  • Lloyds Banking Group/Bank of Scotland Plc
  • The Royal Bank of Scotland Plc/National Westminster Bank Plc/Ulster Bank
  • Santander UK Plc

Contact your bank for further guidance.

Lender Contact Telephone Email
Barclays UK Paul Bowman N/A
Barclays International Mathew Enright N/A
HSBC UK Bank Plc Liz Ambler (London and South East) N/A
Matt Osborn (Midlands, South West and Wales) N/A
Barry Millar (North, including Scotland and Northern Ireland) N/A
Lloyds Banking Group/Bank of Scotland Plc Trade Finance N/A
National Westminster Bank Plc Chris Duggan, SolutionsLine Team 0800 2100235
The Royal Bank of Scotland Plc Chris Duggan, SolutionsLine Team 0800 2100235
Ulster Bank Gavin Murphy, Global Trade Finance 028 9027 6632
Santander UK Plc Trade and Supplier Finance N/A

Other participating banks

You can also access our Bond Support Scheme directly through another approved lender.

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Lender Contact Telephone Email
ABC Bank International Plc Eric Balish, Head of Corporate Coverage, UK & Ireland +44 203 765 4115 or +44 7789 372296
Australia and New Zealand Banking Group Ltd Craig Jones, Head of Specialised Finance, Europe & America 020 3229 2689
Bank Gospodarstwa Krajowego Janina Szwedo, Trade Finance Sales Specialist +48 22475 83 08
Feliks Kobierski, Trade Finance Expert +4822475 83 18
Bank of Ireland Willie McCoy, Senior Manager, Trade Finance Business Development 028 90 433291
BNP Paribas Alexandre de Vathaire +33 (0) 1 42 98 00 29
Danske Bank Northern Ireland (businesses based and registered in Northern Ireland) Ruth Graham, Head of Trade and Export Finance 028 9004 8683
Deutsche Bank John Griffith, Vice President Trade Finance Sales 020 7545 3505
DNB Bank ASA Peter Sargent 020 7621 6038
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