Supplier credit insurance
Type of funding
Insurance
For whom
Small and medium-sized Enterprises (SMEs), Large companies
Territorial range
Foreign markets
Date of availability
Indefinetely
What you get
Ensure security of your transaction and protect yourself against a lack of payment from the counterparty.
What you need to know?
If insurance for contract receivables under a supplier credit scheme may help you grow your business, contact the Export Credit Insurance Corporation (KUKE). The insurance protects against delays or non-payment by the counterparty.
As part of the insurance you can get:
- free risk assessment and supervision over the counterparty's financial situation during the contract performance;
- protection against contract termination by the contractor at the production stage as well as against non-payment after delivery;
- insurance rates and conditions in accordance with the standards of the so-called OECD Consensus;
- compensation paid in the currency of the export contract, which reduces exchange rate risk;
- payment of compensation guaranteed by the State Treasury.
The protection may be used in nearly 200 countries around the world, in accordance with the current policy in the scope of granting insurance protection with the support of the State Treasury.
What requirements do you need to meet?
The insurance is intended for all companies whose products and services meet the condition of being Polish. The export contract should also meet the conditions for incurred local costs, advance payments and payment instalments. Remember also that the term of deferment of payment (trade credit) for delivered goods or services should be two years or more.
You can check the approximate insurance premium rate using the calculator. However, please note that the final amount is verified on the basis of your individual application.
How to use the product?
The insurance contract is concluded on the basis of a written application. Based on the data contained therein and on a risk assessment, the Export Credit Insurance Corporation determines detailed insurance terms and conditions.
The insurance contract is concluded for 12 months with the possibility of automatic renewal.
Supplier credit insurance works in several stages:
- Contact with an Assistant at a dedicated e-mail address (help with preparing the application).
- Assigning an Analyst to your case to prepare the insurance contract.
- Evaluation of the counterparty's financial credibility based on your insurance application.
- Conclusion of an insurance contract for the duration of the contract and payment of the premium.
- Sale of goods or services and payment from the contractor. In the case of non-payment – contact the Export Credit Insurance Corporation to request debt collection action against the recipient.
- Payment of compensation if the debt collection action fails to produce the expected results.
Additional information
Detailed information can be found on the dedicated page.
