KUKE GAP EX and KUKE GAP EX+ KUKE GAP EX and KUKE GAP EX+

“My current insurance cover is insufficient to effectively grow my exports.”

The new solution offered by KUKE is a response to liquidity problems faced by exporters during the COVID-19 pandemic. It allows companies to maintain or increase sales to buyers from EU Member States and other key export markets.

Who is it for?

KUKE GAP EX is a solution aimed at companies that already have credit insurance, but are finding their current credit limits insufficient to secure effective export sales.

KUKE GAP EX+ is addressed to entrepreneurs whose existing credit limits have been cancelled or have been refused cover for new foreign buyers.

What are the benefits?

You maintain or increase sales to your key foreign buyers for whom cover offered by your current trade receivables insurer is insufficient.

You will improve your company’s liquidity. Meet your payment obligations towards your vendors, suppliers or other business partners with the profits earned on export sales. The insurance policy can also be used to secure factoring or a working capital loan.

Insurance of receivables from buyers in all EU Member States (except Poland) including Australia, Iceland, Canada, Japan, Norway, New Zealand, United Kingdom, USA and Switzerland.

Widest range of cover currently available on the market (KUKE GAP EX+): insurance of commercial risk, political risk, force majeure, including the risk of a pandemic, and the risk of default by a public buyer.

Your customer relationships remain unaffected if a trusted business partner gets into a difficult situation.

Cost transparency. The premium is charged monthly based on the amount of the credit limit granted.

Easy policy management. We do not require regular turnover reports and other formalities have been kept to a minimum.

Convenient online contract conclusion and operation. The insurance agreement can be concluded and managed online.

Free buyer risk assessment during the performance of the sales agreement.

Which countries are covered?

Australia Germany New Zealand
Austria Greece Norway
Belgium Hungary Portugal
Bulgaria Iceland Romania
Canada Ireland Slovakia
Croatia Italy Slovenia
Cyprus Japan Spain
Czech Rep. Latvia Sweden
Denmark Lithuania Switzerland
Estonia Luxembourg United Kingdom
Finland Malta United States
France Netherlands  

What are the conditions?

KUKE GAP EX

  • The value of the KUKE GAP EX credit limit for a given buyer cannot exceed the credit limit amount granted by the primary insurer and the amount of PLN 5 million.
  • KUKE carries out a risk assessment of the buyer submitted for insurance and grants the credit limit based on this analysis.
  • The maximum payment term, the currency, and the period of validity of the credit limit are the same as in the case of the credit limit granted by the lead insurer. Any change to these parameters by the primary insurer automatically changes the parameters of the KUKE GAP EX limit.
  • Lowering the credit limit by the lead insurer results in the reduction of KUKE’s liability within the framework of the KUKE GAP EX credit limit.
  • The KUKE GAP EX insurance cover expires as of the date of cancellation of the credit limit granted by the primary insurer or as of the date of termination or expiry of the insurance contract at the primary insurer.
  • Your own contribution is set at 5%.

KUKE GAP EX+

  • You can apply for a KUKE GAP EX+ credit limit if in 2020 your insurer has refused to set a credit limit for a buyer or the existing credit limit has been cancelled.
  • Your buyer must comply with the following criteria:
    • running their business for more than 2 years (on the date of the KUKE GAP EX+ credit limit application),
    • no insolvency proceedings instituted in relation to it.
  • The maximum amount of the KUKE GAP EX+ credit limit is PLN 500 000.
  • The period of validity of the KUKE GAP EX+ credit limit is 90 days.
  • The maximum credit period is set by KUKE.
  • KUKE carries out a risk assessment of the buyer submitted for insurance and grants the credit limit based on this analysis.
  • Your own contribution is set at 10%.

Other Information

The rules on insurance of the above facilities are in line with the European Union Communication on the inclusion of the aforementioned marketable risk countries to countries temporarily recognised as non-marketable until 31.12.2020. The trade credit concerning the insurance of receivables from buyers based in the above listed countries considered as temporarily non-marketable cannot exceed 180 days as of the day of the European Commission reintroducing the country to the list of marketable risk countries, which means that—based on the law as it currently stands—it may apply until 30.06.2021 at the most.