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Wholeturnover Policy Light (APG-light)        

Protection against risks in emerging markets and developing countries

We support you in protecting short-term accounts receivable

You are looking for a cost-effective and easily manageable way to protect short-term receivables with payment periods of up to four months? Our Wholeturnover Policy Light will be the ideal tool for that. This form of Hermes Cover enables German exporters to insure short-term receivables in respect of the supply of goods abroad to numerous buyers in different countries.


Good to know: You can find out whether this form of cover is suitable for your transaction in question by answering just five questions for our feasibility check. Besides, you will receive an indication as to the amount of the premium payable in the course of our online application process, that is before actually submitting an application for cover.

APG-light at a glance 

Target group

German export firms with coverable export turnover spread over different markets; as of 01.07.2013 there is no longer a limit on the maximum turnover which previously required a change into a Wholeturnover Policy once it was exceeded.


Term of the covered transactions

Short-term (up to 4 months)


Insurable risks

A Wholeturnover Policy Light offers protection against payment default if

  • the foreign buyer fails to make payment within 6 months after due date (protracted default)

Special features

The APG-Online-Service makes the handling of a Wholeturnover Policy Light even easier and faster.

An inclusion of receivables secured by a letter of credit and of receivables due from affiliated foreign companies is not possible. Services are not eligible for cover.

As a rule, cover facilities are available for all countries, with the exception of exports on credit terms of up to two years to EU and core OECD member states (i.e. EU member states, Australia, Canada, Iceland Japan, New Zealand, Norway, Switzerland, United Kingdom and USA).



  • Initial premium rate: 0.80% of the monthly turnover (minimum premium rate for each policy year: EUR 1.000)
  • The individual claims record is taken into account through a system of premium discounts and surcharges (Bonus-Malus-System) (with effect from the third policy year and rates ranging from 0.60% to 1.05%). In the case of a change from a Wholeturnover Policy in a Wholeturnover Policy Light and vice versa the premium discount/surcharge level reached will be transferred to the new policy.
  • Additional handling fees will not be charged, however, a contract fee will be payable as soon as limits for risks which are temporarily not marketable are fixed or are applied for (siehe AGA-Report Nr. 223, German version only).
  • Payment through direct debiting system


Uninsured portion

  • 10% for all risks


Supplementary cover

If required, a Wholeturnover Policy Light can be supplemented with

  • Manufacturing risc cover
  • Confiscation risk cover
  • Contract bond cover
  • Counter-guarantee

APG-light: Your advantages at a glance


With a feasibility check you can easily find out whether a Wholeturnover Policy Light is suitable as cover for your transaction.


Our Wholeturnover Policy can be supplemented with many other forms of cover – for example manufacturing risk cover, confiscation risk cover, contract bond cover or a Counter-Guarantee – in order to augment the protection against risks.

How does wholeturnover cover light work? 

By taking out a Wholeturnover Policy Light (APG-light), an exporter can protect foreign trade receivables due in respect of the supply of goods and services abroad to numerous customers in different countries with a maximum credit period of four months.

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FAQs Wholeturnover Policy Light 

What supplementary cover is available? 

If need be, a Wholeturnover Policy Light can be supplemented with

What is the difference between a Wholeturnover Policy Light and a Wholeturnover Policy?

Under a Wholeturnover Policy Light the payment period for the covered receivables is up to four months – under a Wholeturnover Policy, however, up to 12 months.

Do all trade receivables from foreign buyers have to be included?

All trade receivables eligible for cover must be included in the Wholeturnover Policy Light (compulsory inclusion). However, receivables secured by a letter of credit, receivables due from affiliated foreign companies or claims for payment resulting from services rendered cannot be covered. In the interest of making this cover programme as easy to handle as possible, there are no options or possibilities of inclusion as in the Wholeturnover Policy.

What horizon of risk is covered? 

The Wholeturnover Policy Light has a policy period of one year and is automatically renewed by the same period if notice of termination is not given in time. Cover for the individual amounts receivable begins as from the date of shipment. The Federal Government is liable for an insured account until it has been paid in full, irrespective of whether the Wholeturnover Policy Light is renewed or not.

Can a Wholeturnover Policy Light be used for refinancing? 

The benefit of a Wholeturnover Policy Light can be assigned – either alone or together with the export receivables – to banks and forfaiting houses for refinancing purposes.

Do you have any additional questions regarding a Wholeturnover Policy Light? 

Our experts will be pleased to answer any questions regarding a Wholeturnover Policy Light and will guide you step by step through the application process if desired.

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Customer Support
Do you have any questions about export finance? We will support you.
N. N.
International Business Development | Financing expert, Türkiye German ECA Desk