Hermes cover flex&cover

The origin of goods is a key criterion for eligibility. The German Government has now added a new approach(flex&cover) to the eligibility criteria. Flex&cover focuses on the "German Footprint" that an export company creates for Germany as a business location. The following aspects, among others, are taken into account for the economic value added contribution on an individual company basis: Research and development in Germany, tax liability, investment activity, headquarters location, employment, training, production location. If this free, optional model is selected, the transaction-related consideration of the origin of goods is omitted for a period of three years.

Your advantages at a glance

• Reduced bureaucracy: Simplified application process due to elimination of the transaction-related obligation to provide evidence.
• Planning security: Three years of guaranteed access to flex&cover for smooth business processes.
• Flexibility: Choice between flex&cover and the existing 49PLUS model, according to your needs.
• Reduced verification obligations: Less work involved in applications for cover and in the compensation process.

How does it work?

To benefit from flex&cover, you present your business and sourcing model and demonstrate the positive economic contribution for Germany based on seven criteria, including R&D activities and investments. If the assessment is positive, you will be granted access to flex&cover, which considerably simplifies the application process.

Important notes

• Local costs must still be recorded.
• For transactions over EUR 100 million, foreign supplies must be declared.
• The Federal Government must be notified of any changes to the facts in order to ensure the validity of the commitment.

Take the opportunity to make your export transactions more efficient and secure. Find out more about flex&cover and start a simplified future for your export business today!