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Application procedure
1. Preliminary review
In the preliminary review the Federal Government decides whether an external expert should be involved in the subsequent detailed evaluation of the project’s economic viability and the justifiability of the risk or whether this evaluation can be made directly by the mandataries. This decision will be dependent on the project’s size and complexity. Where required, the applicant must mandate and reimburse the necessary external expert. Furthermore, the Federal Government either updates the decision-making on the eligibility for cover in principle (enquiry) based on currently available information and possible changes of the project concept or it decides the project’s eligibility for cover in principle insofar as this application is a first submission.
The time horizon for a preliminary review is approximately four to eight weeks depending on the project’s maturity.
2. Preliminary approval
The Federal Government decides on the preliminary approval for cover in parallel with the project development (inter alia loan assessments and decisions of the applicant bank). Thereby the Federal Government ensures the granting of an Untied Loan Guarantee provided that the project complies with all conditions stipulated within the preliminary approval for cover and that the submitted preconditions and legal situation remain unchanged. The preliminary approval for cover under an Untied Loan Guarantee is already binding for the applicant.
3. Final approval
Upon conclusion of the financing agreement, the Federal Government decides on the final granting of the Untied Loan Guarantee. By means of the final approval for cover, the Federal Government concludes a guarantee agreement (guarantee declaration) with the policyholder. The guarantee declaration includes all relevant aspects of the Untied Loan Guarantee, such as, scope and size of the covered risks as well as a description of the project.
