Which UKEF product is right for me?
A decision frame for choosing between EXIP, GEF, EWCS — and recognising when none of them is the right tool yet.
## Quick answer Match the UKEF product to the **shape of the problem**: buyer payment risk → EXIP, general bank capacity → GEF, one large contract → EWCS. If none of those describe your situation, UKEF is usually premature. ## Typical situation A UK business is exporting (or about to), the bank is talking about limits, and someone has mentioned UKEF. The question is which product — and whether now is the right time at all. ## Advisor interpretation UKEF is a toolkit of risk-sharing instruments behind regulated lenders and insurers. The right choice depends entirely on what is constraining the business: - **Buyer might not pay** → EXIP - **Bank cannot extend enough general working capital** → GEF - **One specific contract is too large for the bank's normal appetite** → EWCS - **Performance bonds are eating headroom** → Bond Support (often alongside GEF or EWCS) If the answer is "we just want UKEF involved", the conversation is not ready. ## Readiness signals - Real overseas activity, not just intent - A bank that already supports the domestic business - A specific constraint that UKEF's guarantee or insurance solves - Management accounts that can stand a credit review ## Usually too early when - No export contracts exist yet - The bank has not been approached - The export volume is too small to materially change a bank's decision - The business is still figuring out target markets ## Common mistakes - Treating UKEF as a single product - Going to UKEF before the bank - Choosing GEF when the real need is one-contract finance (EWCS) or buyer-risk cover (EXIP) ## What usually comes next Most growing exporters end up using more than one UKEF product over time — EXIP first, then GEF, then EWCS layered on flagship deals. ## Related grants UKEF EXIP, UKEF GEF, UKEF EWCS. ## Related comparisons UKEF GEF vs UKEF EWCS, UKEF EXIP vs UKEF GEF, UKEF Export Insurance Policy vs Other Export Finance Routes. ## Related pathways Export Funding Pathway. ## Conservative note UKEF schemes change. Confirm product fit, terms and eligibility with your bank and UKEF.