Preconditions for Export Credit Insurance |
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The economic and political conditions in the country of the ordering party must be sufficiently stable
A special country rating is used to classify the risk level. Furthermore there are additional decisions regarding country conditions which take into account the political requirements in order to provide information about the current coverage options in the relevant country.
Requirements for the sales contract
The product being purchased must be predominantly of German origin. An agreement on customary terms of payment must be included in the sales contract and the coverage application must be submitted before conclusion of the sales contract.
Requirements regarding financing
Standard financing for our machines usually runs for a maximum of five years, a longer term is possible for larger investments. A minimum down payment of 15 percent of the total purchase price is required.
Creditworthiness of buyer
The foreign buyer must have an adequate credit rating. In individual cases, the credit insurance might demand an additional bank guarantee.
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