Export Credit Cover for Service Providers
Insuring export business as exporter
Product at a glance
With Export Credit Cover for Service Providers a German exporter can insure accounts receivable arising from an export transaction for the rendering of services which are not linked to the export of goods.
German companies from the service industry
Payment terms of the covered transactions
- Short-term (up to 2 years)
- Medium/long-term (2 years and longer)
Export Credit Cover for Service Providers offers protection against payment default, in particular if
- the foreign client becomes insolvent
- the foreign client fails to make payment within 6 months (protracted default)
- adverse measures are taken by foreign governments or warlike event arise
- local currency amounts are not converted or transferred
- dcontract performance becomes impossible due to political circumstances
As a rule, cover facilities are available for all countries, with the exception of exports on credit terms of up to two years to EU and core OECD member states (i.e. EU member states, Australia, Canada, Iceland Japan, New Zealand, Norway, Switzerland, United Kingdom and USA); for a limited period of time until the end of 2020, Export Credit Guarantees of the Federal Republic of Germany are also available for these normally marketable countries (German version). Additional information.
- Single premium calculated as percentage of the order value covered (interest excluded) as well as specific processing fees
- For a detailed calculation there is an interactive premium calculator (German version only) available
- 5 % for political risks
- Normally 15 % for commercial risks; for a limited period of time until the end of 2019 the uninsured portion can be reduced upon application to 5 % against the payment of a premium surcharge
If required, Export Credit Cover for Service Providers can be supplemented with
- Manufacturing cover
- Contract bond cover
This product can be applied for online.
Country cover policy of more than 200 countries.