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Insuring export business as exporter

Wholeturnover Policy (APG)

Product at a glance

The Wholeturnover Policy (APG) is a cost-effective and easily manageable tool for German exporters repeatedly supplying goods and/or services to several buyers in different countries to insure short-term receivables (credit terms of up to 12 months). The policy period is one year and about two months before the expiry the exporter will receive a renewal offer.

Here you will find some practical examples.

Target group

German export firms with a coverable annual export turnover of at least EUR 500,000 spread over different markets

Payment terms of the covered transactionse

Short-term (up to 12 months)

Insurable risks

A Wholeturnover Policy offers protection against payment default, particularly if

  • the foreign buyer becomes insolvent
  • the foreign buyer fails to make payment within 6 months after due date (protracted default)
  • adverse measures are taken by foreign governments or warlike events arise
  • amounts in local currency cannot be converted and/or transferred
  • goods are confiscated due to political circumstances
  • contract performance becomes impossible due to political circumstances

Special features

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

Limited in time until the end of 2011, cover for Bulgaria, Iceland, Latvia, Lithuania and Romania, in principle classified as marketable risks, is possible. Further information (German version only).

Premium

  • Individually calculated percentage of the monthly turnover which will be fixed for the entire policy period
  • The individual claims record is taken into account through a system of discounts and surcharges (Bonus-Malus-System) (with effect from the third policy year)
  • No additional processing fees
  • Option of paying premium by direct debit

Uninsured portion

  • 5 % for political risks
  • 10 % for commercial risks. For a limited period of time until the end of 2013 the uninsured portion can be reduced upon application to 5 % against the payment of a premium surcharge.

Supplementary cover

If required, cover under a Wholeturnover Policy can be supplemented with

For advice please contact

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

Downloads

Product Information Wholeturnover Policy (216 KB)

Hermes Cover Special: Wholeturnover Policy (306 KB)

General conditions Wholeturnover Policy (German version only) (274 KB)

Supplementary provisions relating to the assignment of Guaranteed Amounts (186 KB)
amend Art. 19 and 20 of the General Conditions
(ECG/BCG/P/PL) as well as Art. 17 of the General Conditions (FG)

Word fileWholeturnover Policy: Claims application economic risks (German version only) (179 KB)
Word fileWholeturnover Policy: Claims application economic risks (German version only) (411 KB)

Collection authorization (German version only) (53,5 KB)

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