“My company is just starting its operations and I would like to protect my business against the risk of non-payment.”

The Europolicy is an insurance of trade receivables designed for companies commencing their business activities. Failing to receive payment from buyers for delivered goods or services may cause serious financial problems for a company at the very start of its business activities. The Europolicy is a solution that protects the company against the risk of non-payment both in export and domestic transactions. Thanks to the Europolicy you will be able to expand the circle of buyers and safely grow your business.

What are the conditions?

In order to be covered by the Europolicy insurance a company is required to sell goods and/or services with a deferred payment term (on credit terms) and to meet at least one of the following conditions:

• Conduct export sales with an annual trade credit turnover not exceeding EUR 1 million, irrespective of domestic sales figures;
• Perform sales exclusively on the domestic market, provided that the annual trade credit turnover did not exceed PLN 5 million;
• Conduct sales on domestic and foreign markets, provided that the annual  value of export sales under trade credit did not exceed EUR 1 million and the value of domestic sales did not exceed PLN 5 million.

Which countries are covered by the Europolicy?

Europolicy covers buyers from 34 European countries including Poland:

How does it work?

	Step 1: Assessment of the buyer’s credit worthiness The company completes an insurance form and specifies the credit limit for the buyer submitted for the insurance. Our team of analysts then evaluates the credibility of the buyer.
	Step 2: Conclusion of an insurance agreement and payment of insurance premium After a positive assessment of the credibility of a business partner, the company concludes an insurance agreement with KUKE and completes payment of the insurance premium. The agreement remains in force for a period of 12 months. The premium payable upon the conclusion of the agreement is the only cost incurred by the company throughout duration of the insurance policy.
	Step 3: Delivery of goods or services and payment by the buyer The company delivers the goods or renders the service to the buyer. Next, the buyer makes the payment within the timeframe specified in the contract or stated on the invoice.
	Step 4: Debt collection Should the buyer fail to complete the payment within the specified payment period, the company requests that KUKE initiates debt collection procedures in relation to the buyer in default.
	Step 5: Indemnification Should the debt collection fail to bring the anticipated effects, indemnity is paid out to the company.

What are the benefits?

• The company is protected against the risk of non-payment for the supplied goods or services rendered.
• We are able to cover selected buyers or even a single transaction.
• Simple and transparent insurance procedures tailored for small businesses.
• The insurance covers the majority of European markets, including Poland.
• The premium is the only cost incurred by the company, there are no additional fees or underwriting and debt collection.