Bond Support Scheme

Find out about the Bond Support Scheme - how it works, its benefits and how to apply.


Under the Bond Support Scheme we provide partial guarantees to banks in support of UK exports. Where a bank issues a contract bond or indemnifies an overseas bank providing the bond in respect of a UK export contract, we can guarantee up to 80% of the value of the bond.

This means that the bank receives a guarantee from UKEF to cover an agreed percentage of the amount of the bond if the exporter fails to reimburse the bank. The bank can also, for the duration of our guarantee, increase its risk appetite for the exporter.

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


To be eligible for support under the Bond Support Scheme as an exporter, you must:

  • be carrying on business in the UK, the Isle of Man or the Channel Islands

  • 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, the Isle of Man or the Channel Islands

  • show that at least 20% of the value of your contract represents UK content1.

How to apply

The scheme can only be accessed through lenders that have signed up to participate.

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
  • 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.

Barclays Bank Plc Mathew Enright, Vice President, Trade and Working Capital 020 7116 3999
HSBC Bank Plc Su Lewis, Performance Director, Global Trade & Receivables Finance 07920 073256
  Ketan Gupta, Executive Manager, Global Trade & Receivables Finance 07468 704263
Lloyds Banking Group/Bank of Scotland Plc Barry George, Product Manager, Trade Product 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 Martin Hodges, Head of Trade 07827 872312

Other participating banks

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

Bank Contact Telephone Email
Australia and New Zealand Banking Group Ltd Craig Jones, Head of Specialised Finance, Europe & America 020 3229 2689
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
Clydesdale Bank Plc Simon Hayden, Trade Finance Manager 07831 318295
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
Gulf International Bank (exports to Gulf Cooperation Council States only) Charbel Khazen, Senior Vice President & London Branch Manager 020 7393 0442
ICICI Bank Nishant Kumar, International Financial Institutions Group 020 7375 5097
London Forfaiting Company Ian Lucas, Head of UK Marketing 020 7397 1527
National Bank of Abu Dhabi Richard Collens, Managing Director, Corporate & Investment Banking UK 020 7201 3347
Societe Generale Yasmine Djeddai, Director, Export Finance 020 7676 6176
Standard Chartered Bank Amit Garg/ Katharine Steger/Ramsha Cheema/Claudia Lopes/Clint Eastwood 020 7885 8888
State Bank of India UK Paul Tromans, Area Branch Manager 01902 716050
Yorkshire Bank Simon Hayden, Trade Finance Manager 07831 318295

If banking with one of these approved lenders, you need to:

You will also need to complete an application form. Support can be accessed for:

Once a UKEF guarantee facility has been agreed and a facility letter issued, individual guarantees can be requested by completing the application form for a drawing under a facility line for the Bond Support Scheme (PDF, 1.44MB, 1 page) .

How the Bond Support Scheme works

Diagram showing how the Bond Support Scheme works

How the Bond Support Scheme works if a local bank is required to issue bonds

Diagram showing how the Bond Support Scheme works if a local bank is required to issue bonds

Risks covered

The guaranteed bank is protected against the failure of the exporter to reimburse it under its counter-indemnity if a bond is called and the bank is obliged to pay the beneficiary.


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


Our export finance managers and underwriting staff work with exporters to help structure transactions and prepare applications that have a good chance of being approved. However, on occasion we are unable to progress applications (for example if a case doesn’t meet our minimum risk standards). On these occasions we will explain our reasons for declining the application to the applicant.

The exporter has the right to appeal such a decision, which will involve a review of the application by UKEF officials not directly involved in the initial decision. The exporter will be informed of the outcome and how it was decided. The appeal outcome will be final.

Find out how we make decisions on applications by reading our Read the Guide for applicants on business processes and factors.


This information is not intended to be a comprehensive description of our Bond Support Scheme and many details which are relevant to particular circumstances may have been omitted. When considering applications from participating banks, UKEF will look at each case on its merits.

This information was last updated in October 2017.

1: UK content is the export or UK supply contract’s value less the cost to you of buying any goods and/or services from suppliers outside the UK, the Isle of Man or the Channel Islands, to be supplied directly to the buyer or otherwise “as is”. Materials and components in goods manufactured or assembled in the UK, the Isle of Man or the Channel Islands, which would be eligible for a certificate of UK origin from a British Chamber of Commerce are treated as UK content.

Published 25 April 2013
Last updated 16 October 2017 + show all updates
  1. Updated following announcement that small businesses can now access government-backed export finance directly from their banks.
  2. Change to Security of Information Arrangements
  3. First published.