Cover for Bad Debt Losses
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1 Euler Hermes Deutschland Cover for Bad Debt Losses Information in brief on Credit Insurance for Larger Companies EH Corporate Advantage Credit Insurance
2 There is a lot of money at stake. And your company s future. German companies grant credit to their customers to the tune of some 400 billion euros every year by supplying goods and services without receiving immediate payment for them. The problem: these outstanding debts are true risk capital, because if the debtor becomes insolvent, the creditor is often left empty-handed. Since considerable costs have often been incurred for materials and work on an order which is already completed, liquidity is threatened - many healthy companies are pushed into insolvency by bad debts, or go down when customers collapse. Insolvency is no respecter of borders It is not only in Germany that the incidence of company failures is high: our most important trading partners have a high level too. And there it is even more difficult to deal with the threat: information on foreign business partners is hard to come by; foreign languages, legal systems and different ways of doing business longer payment terms for instance all increase the risk. Compensation a loss is not easy Loss from a bad debt due to insolvency in 000 euros Extra turnover needed in 000 euros at pre-tax return on turnover of: 2 % 4 % 6 % , ,500 1, ,000 2,500 1,667
3 Cover for bad debt losses from Euler Hermes pays dividends for you EH Corporate Advantage is the flexible credit insurance from Euler Hermes which gives you comprehensive protection from bad debt losses, exactly tailored to your needs: Normally, Euler Hermes prevents losses due to the insolvency of a customer by checking their creditworthiness before things go wrong. To do this, our experts compile information from a wide range of sources and can access data on more than 40 million companies in Germany and all over the world. The integrated Collection Service provided by Euler Hermes Collections GmbH reduces the number of unpaid invoices. If a customer doesn t pay despite all our preventive measures, we indemnify the greater part of your loss. Your advantage: Euler Hermes already indemnifies your loss if your customer has not paid by a certain deadline ( protracted default ). That way you don t have to wait for your money until they are declared insolvent. And the event of loss Insolvency is deemed to have occurred as soon as a provisional administrator or similar official is appointed. In principle, all the goods you deliver and the services you provide are insured on request also the costs for work in progress on goods you have produced and customized for a particular customer in the event that they are then not delivered. Cover is worldwide, with only a few exceptions.
4 EH Corporate Advantage: exactly the security your company needs With EH Corporate Advantage you can relax and concentrate on running your company. A customized policy: by selecting from the various endorsements available, you get exactly the cover which is important for you. Flexibility: You have the option of extending due dates on your own initiative, without having to OK it with us beforehand. No credit rating fees charged for the times when your company did not need the cover. Identical conditions all over the world for policies and indemnity make it easy for international companies to standardize their credit management, thus facilitating internal communication and controlling. The premium is calculated, e.g. on your turnover multiplied by a factor which takes account of your individual risk situation, and is only a few fractions of a percentage of the turnover.
5 Credit decisions in seconds: via EOLIS or SmartLink You can save a lot of time with EH Corporate Advantage: via our Online System EOLIS, 80 % of all domestic credit limit requests are decided in seconds 24 hours a day, seven days a week, wherever you may be worldwide. And you can have it even easier: with SmartLink, your direct connection to Euler Hermes. That automatically synchronizes every information call you make to us with your credit management systems. That way you can avoid the time and cost involved in data transfer by hand. Your benefits at a glance: Protection for your receivables against commercial risks almost anywhere in the world. Individual customized policy for your needs. Fast credit limit decisions via our Online Service. Ongoing credit monitoring of your customers. Credit rating fees only for the time you are on cover. Safeguarding of your company s liquidity through integrated collection service. Option to extend due dates with obtaining permission beforehand. Early payment of claims through Protracted Default. Event of loss Insolvency already on appointment of provisional administrator or similar official. Standardized conditions all over the world. You can enhance your bank credit lines by assigning the benefit of the policy as security. Synchronized data transfer by SmartLink. Personal service and consultancy.
6 Euler Hermes Deutschland Niederlassung der Euler Hermes SA Hamburg Postal address: Friedensallee Hamburg Phone +49 (0) 40/ Fax +49 (0) 40/ Your hotline for fast help and advice: Euler Hermes CustomerService Phone +49 (0) 40/ Fax +49 (0) 40/ We are just around the corner from you: Berlin Phone +49 (0) 30/ Fax +49 (0) 30/ Bielefeld Phone +49 (0) 5 21/ Fax +49 (0) 5 21/ gs.bielefeld@eulerhermes.com Bremen Phone +49 (0) 4 21/ Fax +49 (0) 4 21/ gs.bremen@eulerhermes.com Dortmund Phone +49 (0) 2 31/ Fax +49 (0) 2 31/ gs.dortmund@eulerhermes.com Frankfurt Phone +49 (0) 69/ Fax +49 (0) 69/ nl.frankfurt@eulerhermes.com Freiburg Phone +49 (0) 7 61/ Fax +49 (0) 7 61/ gs.freiburg@eulerhermes.com Hanover Phone +49 (0) 5 11/ Fax +49 (0) 5 11/ gs.hannover@eulerhermes.com Cologne Phone +49 (0) 2 21/ Fax +49 (0) 2 21/ nl.koeln@eulerhermes.com Leipzig Phone +49 (0) 3 41/ Fax +49 (0) 3 41/ gs.leipzig@eulerhermes.com Munich Phone +49 (0) 89/ Fax +49 (0) 89/ nl.muenchen@eulerhermes.com Nuremberg Phone +49 (0) 9 11/ Fax +49 (0) 9 11/ gs.nuernberg@eulerhermes.com Stuttgart Phone +49 (0) 7 11/ Fax +49 (0) 7 11/ nl.stuttgart@eulerhermes.com Hamburg Phone +49 (0) 40/ Fax +49 (0) 40/ nl.hamburg@eulerhermes.com /1 0815
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