cover for bad debt losses · annual turnover starting at c. 2.5 million euros ... lost receivables...
TRANSCRIPT
INSURED RISKS:
Bad debt losses on your
receivables from deliveries
of goods and performance
of services to business
customers. Euler Hermes
does not only indemnify
you when your customer
is insolvent, but also in
the event of so-called
protracted default.
WWW.EULERHERMES.DE
THE SOLUTION FOR:
Companies with an
annual turnover starting
at c. 2.5 million euros
THE CONVINCING ADVANTAGES YOU GET:
◾ An insurance to make sure your company stays in business.
◾ Security for your company’s cash flow through cover for your revenues.
◾ Continuous monitoring of your customers’ creditworthiness by an experienced
team of experts at the world’s leading credit insurer.
◾ You can relieve the pressure on your bank credit lines by assigning the benefit
of the policy.
◾ Virtually worldwide cover against commercial risks.
◾ Modular add-ons to cover enable you to adapt your cover as and when you
need to.
Every year, German companies grant their customers credit to the tune of
several hundred billion euros – by delivering goods and performing services
for them without getting paid immediately. Such outstanding receivables
must be seen as real risk capital, however – if the debtor goes bust, you
end up empty-handed. If you have our Cover for Bad Debt Losses for Larger
Companies, on the other hand, you are well protected: we check your
customers’ creditworthiness on an ongoing basis, take care of collecting
your trade debts and indemnify your loss if it comes to the crunch.
For larger
companies
COVER FOR BAD DEBT LOSSES
15 3
501e
012
0
DO YOU HAVE ANY MORE QUESTIONS? HERE ARE A FEW FAQ:
◾ I know my business partners well, why shouldn’t I trust them?
Even if you have done business with him for years, your customer’s creditworthiness can deteriorate
through no fault of his own – sometimes as a result of unforeseen external events. With Cover for Bad
Debt Losses you will always be the first to know when problems arise.
◾ Isn’t this kind of insurance cover rather expensive?
Lost receivables can cost a whole lot more! In order to compensate a loss of 100,000 euros, for
instance, you need to make additional turnover of something like 2.5 million euros at a medium
return on sales! And the most costly result is if your company runs the risk of becoming insolvent
itself due to a major bad debt.
◾ If my customer goes into insolvency the proceedings can last for years. Do I have to wait all
that time for my money?
Not with Cover for Bad Debt Losses. Euler Hermes already pays when invoices have not been paid
over a certain longer period and the collection service does not succeed in collecting the insured
debt within the agreed time. That way your cash flow is reliably secured.
THE REASONS TO CHOOSE EULER HERMES:
◾ Indemnification already with “protracted default”◾ Integrated collection service from Euler Hermes Collections GmbH. This can considerably
reduce the number of your invoices which remain unpaid.
◾ You can manage all your receivables without hassle via our Online Service EOLIS and usually
get a decision on a credit limit within seconds.
◾ Fast, excellent customer service and high-quality advice locally.
◾ Credit assessment of your customers via the unique Euler Hermes Infopool with worldwide
access to data on over 40 million companies.
◾ You have the option to enhance the services you get with your credit insurance policy by using
Euler Hermes BoniCheck. This tool gives you continuous, precise evaluation of your business
partners’ creditworthiness.
◾ Euler Hermes Smartlink lets you integrate the link to Euler Hermes into your company software
directly and safely. Synchronous data exchange then speeds up many processes and saves
time.
GOOD TO KNOW: HOW THINGS WORK IN THE EVENT OF A CLAIM
BASED ON “PROTRACTED DEFAULT”
3rd reminder
2nd reminder
1st reminder
Event of loss
“Protracted default”
(60 days after placing
collection order)
Overdue report when
the agreed notifi cation
period expires (e.g. 45
days after due date)
Collection order placed with
Euler Hermes Collections GmbH
(at the latest 90 days after due
date)
Indemnifi cation (at the
latest 30 days after the event
of loss and submission of
claims documentation)Delivery Invoice Due date
Euler Hermes Deutschland Niederlassung der Euler Hermes SA 22746 Hamburg Adress: Gasstraße 29, 22761 Hamburg
Phone +49 (0) 40/88 34-0 Fax +49 (0) 40/88 34-77 44 [email protected] www.eulerhermes.de
Euler Hermes CustomerService Phone +49 (0) 40/88 34-35 36 Fax +49 (0) 40/88 34-32 70 [email protected]