Bf - Annex No. 1 - Basic terms and conditions - insurance of short-tail export supplier's credit

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Annex No. 1
to the application for insurance of a Short Term Export Supplier
Credit Financed by a Bank against the Risk of Non Payment – Bf

Basic terms and conditions „Bf“

  • The share of value of supplies with the origin in the Czech Republic in the export value exceeds 50 %,
  • trouble-free credit history1 of subjects2,
  • The subject2 has existed and executed the activity being the subject of export minimally for 2 years before submitting the application for insurance of short- term export supplier's credit against the risk of non-payment or its activity follows up its legal predecessor's activity, carried out minimally for 2 years before submitting the application for insurance of short term export supplier's credit financed by a bank.
  • Credit insurance/claims in connection with the export of selected agricultural products listed in annex No. 1 of the Agreement on Agriculture, which is part of the Agreement Establishing the World Trade Organization (WTO), the maximum repayment term shall not exceed 18 months (from the starting point of credit to the end of the contractual date of the final payment).

1 The trouble-free credit history shall be interpreted as absence of record on default payment for the subject (exporter, importer, guarantor) in the Central Credit Register maintained by the ČNB or another similar credit register or register of information in the term of minimally last 5 years.

2 persons participating in the export - bank (except for a bank with registered office in the CR – as per the Bank Act No. 21/1992 Coll.), importer or guarantor and exporter

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