There are no formal restrictions on cover.
Cover facilities are available on a case-by-case basis.
For short-term business no security is required for transactions with public buyers, in respect of private buyers bank security must be provided. The collateralisation may only be waived if
- the buyer is an affiliated company
- the buyer belongs to an international group the creditworthiness of which is beyond doubt
- informative information material on the debtor is available which, subject to the application of strict criteria, justifies the granting of cover without collateral.
For medium and long-term transactions with public buyers, no collateral is required.
For transactions with private buyers without state or bank guarantees, audited annual accounts drawn up according to international accounting standards are required which justify the granting of cover without collateral.
The assessment of a bank for acceptance as a guarantor or borrower is carried out case by case on the basis of informative documents and taking into account the risk involved.