We support you with cover for your services
You render services and would like to easily protect your export business? Our Export Credit Guarantee for Service Providers will be the ideal tool for that. This form of cover enables German exports to insure receivables arising from an export transaction which involves the rendering of services.
Worth knowing: You can find out whether this form of cover is suitable for your transaction in question by answering just five questions for the feasibility check. Besides, you will receive an indication as to the amount of the premium payable in the course of the online application process, that is before actually submitting an application for cover.
Export credit cover for service providers at a glance
Payment terms of the covered transactions
- Short-term (up to 2 years)
- Medium/long-term (2 years and longer)
An Export Credit Guarantee for Service Providers offers protection against payment default, in particular if
- a foreign client becomes insolvent
- the foreign client fails to make payment within 6 months (protracted default)
- adverse measures are taken by foreign governments or warlike event arise
- local currency amounts are not converted or transferred
- contract performance becomes impossible due to political circumstances
In principle, cover facilities are available for all countries with the exception of exports with credit periods of up to two years to EU and core OECD countries (i.e. EU member states, Australia, Iceland, Japan, New Zealand, Norway, Switzerland, the United Kingdom and the United States).
- One-off premium calculated as percentage of the order value covered (interest excluded) as well as specific administrative fees
- For a detailed calculation, there is a premium calculation tool available
- 5% for political risks
- Normally 15% for commercial risks; upon application, the uninsured portion can be reduced to 5% against the payment of a premium surcharge
Export credit cover for service providers: Your advantages at a glance
A feasibility check offers you the possibility to check quite easily whether export credit cover for service providers is suitable for your transaction.
You can apply for export credit cover for service providers quite easily with our customer portal myAGA.
How does export credit cover for service providers work?
It is not only possible to obtain cover for the exports of goods and raw materials but also for receivables arising from an export transaction that involves the rendering of services.
Worth knowing: A separate Constructional Works Guarantee is available as cover constructional works.
Applying for export credit cover for service providers
You can apply quite easily for this product online in the myAGA customer portal. Please submit your online application there in order to apply for cover for your export transaction under an Export Credit Guarantee for Service Providers. For this purpose please register once and comfortably with just a few steps with our myAGA customer portal. If you already use myAGA, you can log on directly with your access data.
If you need assistance with the application or if you have any questions regarding the suitable product for you, please contact our business consultants.
FAQs export credit cover for service providers
What horizon of risk is covered?
Cover takes effect with the commencement of the services and ends with full payment of the covered amount owing.
Can Export Credit Cover for Service Providers be used for refinancing purposes?
The claim arising under the Export Credit Guarantee for Service Providers may – together with the title to the amounts receivable under the export contract – be assigned to banks and forfaiting houses for refinancing purposes.
Do you have any additional questions regarding export credit cover for service providers?
Our experts will be pleased to answer any questions regarding export credit cover for service providers and will guide you step by step through the application process if desired.