Assignment of rights from an insurance policy as a factoring collateral

In addition to insurance facilities addressed directly to banks and financial institutions, we also provide factoring insurance within a scheme where an entrepreneur is a party to the insurance agreement. Here rights to receivables due from a buyer are assigned to the factor, the entrepreneur signs an annex to the agreement with the insurer, identifying the factor as the beneficiary of the insurance agreement. The entrepreneur is still obliged to fulfill all obligations under the insurance agreement.