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Bf

Brief description of the insurance product and contacts

An export supplier credit financed by a bank is a credit extended by an exporter to a foreign importer in the form of deferment of payment for delivered goods or services which has been subsequently bought by a bank from the exporter without any buyback option. The payment may be deferred for the maximum period of 2 years in case of a short-term export supplier credit. The insured is the bank that is covered against the risk that the foreign importer will not duly pay the full owed amount on the predetermined date. The insurance contract is co-signed by the exporter who guarantees the fulfilment of all his obligations and that he will not in any way endanger the repayment of the credit.

An insurance loss is a partial or full non-repayment of the insured credit from commercial or political reasons or their combination. Commercial reasons are general inability of an importer to pay for own due obligations (insolvency) or refusal of the payment without any legal reason (protracted default). Among political reasons belong e.g. administrative decisions or legislative measures of the importer's country preventing the importer from payment, or restrictions in conversion of payments as a result of political occurrences in the country of the importer as well as other events in the country of the importer as war, revolution, civil disorders and natural catastrophes.

The amount of insurance premium depends on the volume of export, negotiated payment conditions, on way how payments are secured, assessment of character and risk level of the importer, assessment of risk level of country or territories related to performance of the export contract and on the amount of the self-retention. The negotiated amount of the insurance premium already includes possible increase or decrease of the insurance risk and is unchangeable during the whole duration of insurance.

You can find indicative insurance premium through the interactive calculator.

Jiří Skuhra, Deputy Managing Director
phone: +420 222 842 300
fax:     +420 222 844 130
e-mail: skuhra@egap.cz

Dana Pučelíková, Director of Export Credit Insurance Department
Phone: +420 222 842 314
Fax:     +420 222 844 130
E-mail: pucelikova@egap.cz

Milan Paclt, Head of Sub-Department for Insurance of Political Risks I.
Phone: +420 222 842 311
Fax:     +420 222 844 130
E-mail: paclt@egap.cz

Pavel Němeček, Head of Sub-Department for Insurance of Political Risks II.
Phone: +420 222 842 313
Fax:     +420 222 844 130
E-mail: nemecekpa@egap.cz