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Commercial claim

If insured receivables are not paid as contractually agreed, the export credit guarantee of the Federal Government provides protection against bad debt losses. The indemnification procedure to be followed for receivables covered by a state export credit guarantee is basically divided into three phases:

Potential claim folgt application follows claim follows indemnification follows recourse

The phase of a potential claim starts when receivables are in danger of becoming overdue and requires the following action:

  1. Risk-increasing circumstances must be reported to the Federal Government
  2. Measures to mitigate the loss must be taken
  3. If applicable, the consent of the Federal Government to further shipments must be obtained

To receive indemnification, in particular, the following conditions have to be fulfilled:

  1. Loss of receivables / collateral if applicable
  2. Proof that the claim is legally valid
  3. Proof that an event of loss has occurred
  4. Performance the duties incumbent on the policyholder

Even after indemnification, the cooperation of the policyholder is required:

Obligation to enforce an indemnified claim against the debtor in consultation with the Federal Government

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