Products for banks and financial institutions

Premiums for buyer credit insurance are based on the insured credit amount without interest.

The risk period is calculated as follows:

• Half of the disbursement period
• Plus the credit repayment period

Repayment periods vary depending on the repayment profile. The standard repayment profile involves equal semi-annual instalments. A non-standard repayment profile can increase or decrease the repayment period.

Credit securities can reduce the economic risk premium. A correction factor is used for short-term transactions.

Premiums are based on the insured amount of the letter of credit.

The risk period is usually calculated as follows:

• Half of the period from the confirmation of the letter of credit to the (final) shipment of the goods
• Plus the entire period from shipment of the goods to the due date of the insured receivable

The letter of credit is treated as security and will reduce the premium for short-term transactions.

Premiums for refinancing guarantees are based on the refinanced amount (without interest) less the amount already covered by SERV under a buyer or supplier credit insurance policy.

The risk period used to set the premium rate is the term of the refinancing, i.e. the term of the export credit.

The calculation of the premiums for working capital insurance is based on the performance rating of the exporter set by SERV. The rating provides for five levels that determine the annual premium rate:

P1:   0.25% p. a.
P2:   0.50% p. a.
P3:   0.75% p. a.
P4:   1.00% p. a.
P5: >1.00% p. a.

The premium rate is multiplied by the credit amount, the risk period and the cover ratio.