How does Hermes Cover work?


We will explain federal export credit guarantees. As exporter, you’re faced with multiple
challenges if you want to enter new markets with your product. What are local circumstances like? How reliable is the buyer? And how can the transaction be financed? Luckily, there are insurance companies which assist you with know-how and suitable products and protect you against the risks of non-payment. But what will happen if the insurance company regards the commercial and political risks as too high and the repayment periods requested
by the buyer as too long? And what if a suitable offer for cover does not exist? In that case the official export credit guarantees
could be a solution. Hermes Cover Under this name the export credit guarantees of the Federal Republic of Germany are known, with which the risk of non-payment is transferred to the federal budget. That is a benefit both for you as exporter
and your financing bank. With the help of cover
provided by the federal government, you can realize projects which, without such
state backing, would not be possible. Besides, with Hermes Cover it’s much easier
to find a bank which will finance your transaction. You will therefore be able to offer your buyer an attractive financing package, an aspect which becomes more and more important in international competition. As a rule, Hermes Cover is available to
all German exporters. The size of the company is
irrelevant in this context. So is the volume of the order. All that matters is that the government
considers the project to be eligible and the risk
justifiable. Would you like to find out whether Hermes Cover
would be an option for your project? You can submit an informal inquiry,
non-binding and free of charge online at www.agaportal.de There, you’ll also find
competent contacts for all questions relating to state export credit
guarantees.

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