Cover for your transactions
Conditions for insuring your transactions.
Would you like to know whether and under what conditions we can cover your transactions in a given destination country?
Our cover guidelines give you an overview of the insurance options. We’re happy to check countries for you that aren’t included on this list.
Find here the conditions for covering your transactions: Country-specific cover policy.
Cover in special cases
If the creditworthiness of the buyer is insufficient or the economic situation of the destination country so requires, we need bank securities for cover.
Policies for companies.
In some European countries, including Austria, the credit insurer is required to collect insurance tax and pay it to the respective tax office. In Austria, Germany, Belgium, Slovenia and Ireland that may either be performed through a tax representative or directly. In Liechtenstein, the policy holder or the co-insured company pays the insurance tax to the tax office itself.
- In the case of co-insured companies, the tax rate of the insurance is based on the registered office of the co-insured company. The risk of non-payment by end customers is borne by the co-insured company itself.
- In the case of agents used to perform the policy holder’s contractual obligations, the tax rate of the insurance is based on the registered office of the policy holder. Unlike with co-insured companies, the policy holder retains the risk of non-payment by end customers in the case of such agents.
- Swiss companies cannot be included as either the policy holder or the co-insured company.
The following tax rates currently apply depending on the registered office of the policy holder or co-insured company:
|Country||Export credit insurance||Domestic credit insurance|
|Bulgaria||2 %||2 %|
|Germany||19 %||19 %|
|Greece||15 %||15 %|
|Great Britain||-||12 %|
|Hungary||2,50 %||2,50 %|
|Ireland||-||3 % + 2 %*|
|Italy||12,50 %||12,50 %|
|Luxembourg||4 %||4 %|
|Portugal||5,25 %||5,25 %|
|Slovakia||8 %||8 %|
|Slovenia||8,50 %||8,50 %|
|Spain||0,15 %||6,15 %|
* Insurance Compensation Fund
** In Liechtenstein the policy holder (or the co-insured company) must pay the insurance tax to the tax office itself.
Policies for banks and factoring companies
The tax is based on the registered office of the bank or factoring company. The relevant domestic tax rate applies.
As at 1 January 2017; no liability is accepted for the accuracy of the Information.