Additional documents
Product Brochure (PDF)
General Terms and Conditions (PDF)
Application portal (online)
Declaration of authorisation, undertaking and prevention of corruption
Word-RTF | PDF
Letter of credit confirmation insurance
Previously, exporters were only able to cover letters of credit under supplier credit insurance. SERV can prohibit delivery in cases of elevated risk (coverage intervention). This means that exporters have always been subject to the risk – even if it is usually minimal – of a delivery halt.
New
- Letters of credit can also be covered under buyer credit insurance.
- SERV waives its right to coverage intervention.
- SERV sets up credit limits for major foreign banks issuing letters of credit, making it possible to approve individual transactions within 24 hours under normal circumstances.
- Explicit and silent letter of credit confirmations are covered.
- The cover ratio for this insurance is 95 percent.
Benefits for exporters
- Simplified administration for insurance policy issuance, thereby accelerating the process.
- Banks are able to rapidly confirm letters of credit to exporters.
- Exporters are ensured that SERV will not intervene with a delivery halt in the event of elevated risk.
Version: 06.08.2009