Supplier’s Credit Insurance

Supplier’s Credit Insurance - insurance of export contracts with credit terms of two years and more

Insurance backed by the State Treasury

To all entrepreneurs performing export contracts with deferred payment terms of two years and more we offer the supplier’s credit insurance – a way to secure medium- and long-term transactions.

Key benefits

• we provide cover against the risk of non-payment of foreign buyers and monitor the financial standing of foreign business partners
• in addition to providing cover against the risk of non-payment, we are able to cover costs incurred by the exporter prior to dispatching the goods or performing the services under the contract in case the trading partner unilaterally breaches the contract
• we are able to pay indemnity in the currency of the export contract
• insurance conditions meet international standards set by OECD and the European Union
• we facilitate access to the DOKE Program (subsidies for export credit subject to fixed CIRR interest rates) administered by the Bank of National Economy (Bank Gospodarstwa Krajowego)
• one-stop-shop for multisourced export projects i.e. projects performed by exporters from several countries in the third country are covered under a single policy

Entities eligible
Polish entrepreneurs planning to export Polish goods and services under credit arrangements of two years and more

Scope of cover
We cover most international markets

Costs
Pricing is based on a number o variables: country risk, type of debtor or guarantor (private or public), credit repayment period, credit disbursement period, scope of cover. Our premium rates are harmonized with the OECD minimum premium benchmark system adopted by countries which have signed the so-called OECD Consensus.

Attention: On 1 September 2011 changes will take effect to the OECD’s system of minimum premium rates. Current regulations will be replaced by the so-called Malzkuhn-Drysdale Package. Detailed information is available on the OECD website www.oecd.org  Premium rates of KUKE S.A. will be harmonized with the new OECD regulations.

Conclusion of the insurance agreement
In order to conclude the insurance agreement please send us an initial query and later complete the insurance application.

We also provide facilities combining financing and insurance of medium- and long-term transactions. For more information please refer to the Banks and Financial Institutions section of this website