LBBW realize Germany’s first forfaiting guarantee

Together with Heidelberger Druckmaschinen AG, LBBW has realized Germany’s first sale of a receivable with a forfaiting guarantee, making the bank a pioneer in the area of export finance. The underlying transaction is the sale of a printing press and equipment to a customer in the United Arab Emirates with an order value of two million euros.

Export credit guarantees from Euler Hermes are used by the German government as an important means to support German exporters in their global activities, especially in challenging times. The aim is to safeguard industrial value added, increase the global competitiveness of Germany’s exporters and facilitate the financing of their exports. The new forfaiting guarantee makes it easier for exporters to sell credit receivables in order to generate liquidity at an earlier date.

A German premiere: First forfaiting guarantee realized

“We are proud to be the first bank in Germany to have realized the new forfaiting guarantee. This further underlines our role as a reliable partner offering innovative solutions for our corporate customers,” said Joachim Erdle, the member of LBBW's Board of Managing Directors in charge of Corporate Customers business. Michael Maurer, Head of Global Trade & Export Finance, added: “This transaction once again illustrates our deep expertise and our capabilities in international business – especially in times when the German economy is facing major challenges.

This view was supported by Ralf Steger, Head of Financial Services & Treasury at Heidelberger Druckmaschinen AG: “LBBW is opening up new options for us when it comes to refinancing our export business. Thanks to the new forfaiting guarantee, export orders in the single-digit million euro range can now also be refinanced quickly and securely. This gives us earlier access to liquidity that we can use for targeted investments in our core business.”

Successful enhancement of forfaiting guarantee

Forfaiting is suitable for companies looking to grant payment terms to their customers abroad. Exporters can use the established federal supplier credit guarantee to cover the risk that buyers will be unable to pay due to political or economic reasons. To access liquidity at an earlier date, exporters can sell these receivables to their bank. This is facilitated by the additional forfaiting guarantee that the German government can assume in respect of the forfaiting bank.

The federal government introduced the forfaiting guarantee in summer 2023 in order to support small and medium-sized enterprises. The aim is to facilitate medium- to long-term sales finance for transactions with an order value of up to EUR 10 million. The most recent amendment as part of the German government’s package of measures in February 2025 represented a major enhancement to the product.