Bf - SMEs - Annex No. 1 - Basic Conditions of Insurance

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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 - SMEs

Basic terms and conditions „Bf“ - SMEs

  • The insured credit/receivable is payable within 2 years
  • The maximum amount of the credit/receivable is CZK 40,000,000
  • The exporter (unless a foreign company) is an exporter meeting the definition set out in Act No. 58/1995
  • The exporter meets the criteria for SMEs in accordance with Annex I to Commission Regulation (EC) No. 800/2008 of 6 August 2008 declaring certain categories of aid compatible with the common market in the application of Articles 87 and 88 of the Treaty (General Block Exemption Regulation)
  • The exporter is not the subject of criminal prosecution, and is not a liable party in the enforcement of a ruling, in enforcement proceedings or in insolvency proceedings
  • The debtor (importer) and the exporter are not interlinked economically or financially
  • The export, the country of destination of the export, and the entities involved are not subject to international sanctions
  • The share of the value of supplies originating in the Czech Republic in the export value is more than 50%
  • The insurance of credit or an account receivable linked to agricultural products listed in Annex 1 to the Agreement on Agriculture, constituting part of the Agreement Establishing the World Trade Organisation (WTO), the maturity of which must not be more than 18 months (from the starting point of credit to the contractual final maturity date)
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