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Insuring export business as bank
Buyer Credit Cover
Product at a glance
Buyer credit cover enables banks to insure their receivables arising from the financing of a German export transaction.
Target group
- German banks
- Branch offices of foreign banks in Germany
- Foreign banks (under certain conditions)
Payment terms of the covered transactions
- Short-term (up to 2 years)
- Medium/long-term (2 years and longer)
Insurable risks
A Buyer Credit Guarantee offers protection against payment default, particularly if
- the borrower becomes insolvent
- the borrower fails to make payment within one month after due date (protracted default)
- adverse measures are taken by foreign governments or warlike events arise
- local currency amounts are not converted or transferred
Special features
Without having to pay additional premium the exporter can take out a Supplier Credit Guarantee to cover the risk of non-payment under the buyer credit.
Cover of so-called marketable risks (all EU and OECD core countries) under a short-term Buyer Credit Guarantee 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.
In order to facilitate refinancing through the capital market an additional Securitisation Guarantee can be taken out. Alternatively, a Buyer Credit Guarantee can be supplemented with a Securitisation Guarantee for the KfW Refinancing Programme in order to generate liquidity through the sale of receivables covered by a state export credit guarantee to KfW.
Premium
- Single premium calculated as a percentage of the order value covered (interest excluded) as well as specific processing fees
- For a detailed calculation there is an interactive premium calculator available (German version only).
Uninsured portion
5 % for all risks
Supplementary cover
If required, cover under a Buyer Credit Guarantee can be supplemented with
- Securitisation Guarantee (to facilitate refinancing on the capital market)
For advice please contact
- Phone: +49 (0) 40 / 88 34 - 90 00
- Email: info(at)exportkreditgarantien.de
Downloads
New in March 2009 - See also AGA-Report (German version only)
General
Conditions: Buyer Credit Guarantees for Private Buyer Risks (392 KB)- General
Conditions: Buyer Credit Guarantees for Public Buyer Risks (German
version only) (391 KB)
- Supplementary
provisions (325 KB) relating to the assignment of Guaranteed Amounts
amend the Art. 19 and 20 of the General Conditions (ECG(PrivBR)/B/BCG(PrivBR)/FKB/P/PL)
as well as Art. 17 of the General Conditions (FG/FB)
Product
information Buyer Credit Cover (224 KB)
Application
for a Buyer Credit Guarantee (German version only) (215 KB)
Application
for a Buyer Credit Guarantee (German version only) (269 KB)
Letter
of Undertaking to the Application for Buyer Credit Cover (42
KB)
Letter
of Undertaking to the Application for Buyer Credit Cover (196
KB)
