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Insuring export business as exporter

Wholeturnover Policy Light (APG light)

Product at a glance

The Wholeturnover Policy Light (APG-light) is a cost-effective and easily manageable tool for German exporters supplying goods to several buyers in different countries to insure short-term receivables (credit terms of up to 4 months). The policy period is one year and it will be automatically renewed if notice of termination is not given in due time.

Here you will find some practical examples.

Target group

German export firms with a coverable annual export turnover not exceeding EUR 1 million spread over different markets.

Payment terms of the covered transactions

Short-term (up to 4 months)

Insurable risks

A Wholeturnover Policy Light offers protection against payment default if

  • the foreign buyer fails to make payment within 6 months after due date (protracted default)

Special features

The APG-Online-Service makes the handling of a Wholeturnover Policy even easier and faster.

An inclusion of receivables secured by a letter of credit is not possible. Services are not eligible for cover.

Cover of so-called marketable risks (all EU and OECD core countries) under a Wholeturnover Policy is possible for a limited period of time until the end of 2010. The delivery of the goods/services has to take place before or on 30 June 2011. Further information can be found under FAQs: Insuring supplies to EU and OECD countries.

Supplementary cover

If required, a Wholeturnover Policy Light can be supplemented with

Premium

  • Initial premium rate: 0.80 % of the monthly turnover (minimum premium rate for each policy year: EUR 1.000)
  • The individual claims record is taken into account through a system of premium discounts and surcharges (Bonus-Malus-System) (with effect from the third policy year and rates ranging from 0.60 % to 1.05 %)
  • No additional processing fees
  • Payment through direct debiting system

Uninsured portion

10 % for all risks

For advice please contact

Ms Cornelia Cleemann
Phone: +49 (0) 40 / 88 34 - 91 85
Email: info(at)exportkreditgarantien.de

Downloads

Product Information Wholeturnover Policy Light (216 KB)

General conditions for Wholeturnover Policy Light (German version only) (379 KB)

Supplementary provisions relating to the assignment of Guaranteed Amounts amend the Art. 19 and 20 of the General Conditions (325 KB)
(ECG (PrivBR)/B/BCG (PrivBR)/FKB/P/PL) as well as Art. 17 of the General Conditions (FG/FB)

Claims application Wholeturnover Policy Light (German version only) (119 KB)
Claims application Wholeturnover Policy Light (German version only) (163 KB)

Collection authorization (German version only) (27 KB)

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