Private credit insurance covers exporting companies against a possible default by a foreign customer.
You are an Austrian company and have delivered goods to a foreign customer, but your customer has not paid. You can cover your company against this possibility, in advance, through OeKB or its subsidiaries.
Our service: Covering your receivables!
In the case of export transactions for which default insurance has been taken out, OeKB or ACREDIA Versicherung AG, a 51 percent subsidiary of OeKB, will indemnify you in the event of payment defaults.
The enforcement of claims can be a long, drawn-out process, particularly in difficult markets with different legal systems. This is where we step in to ensure that you get your money quickly.
Small bad debts, big consequences:
An unpaid invoice of €12,000 doesn’t look especially bad at first glance. But if you’re aiming for your business to generate a margin of three percent, you’ll need an additional €400,000 in sales to cover the loss.
Private or public credit insurance?
Whether OeKB or ACREDIA insures your claims depends on a number of criteria.
|Mainly individual risks with long terms,
also large outstanding amounts
|Mainly revolving risks,
individual risks with a maximum term of five years
|Transactions in countries with a high country risk||
Mainly Transactions in the European Union and OECD countries
|Preference for capital goods||Preference for consumer goods|
Other private credit insurance companies operating in Austria are Atradius, Coface and Credendo Single Risk. Information about these can be found at the Austrian Federal Economic Chamber or the Austrian Insurance Association (both only in German).
Your path to private credit insurance
- Contact our Export Services team.
- We develop a tailor-made product for you.
- You receive the agreed coverage from the moment you take out the insurance.
Any more questions?