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

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Annex No. 1
to the application for insurance of a Medium and Long Term Export Supplier Credit
Financed by a Bank against the Risk of Non Payment - Cf - SMEs
Basic Conditions of Insurance Cf - SMEs
  • The maximum credit amount is 85% of the total value of the export1
  • The insured credit/receivable is payable in 2 years or longer, up to a maximum of 5 years
  • The maximum amount of the credit/receivable is CZK 40,000,000
  • Environmental and social impact assessment and non-application of international sanctions
  • 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 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 share of local costs is not more than 15% or, in exceptional cases, 30% of the Export Contract Value2
  • 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)
1 price agreed in the Export Contract
2 The export contract value according to the OECD Consensus represents the value of supplies from the Czech Republic and third countries, i.e. the export contract value less the value of local supplies, so called Local Costs
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