Who is it for and what does Credit Insurance cover?
- Credit insurance is a specialized insurance, which is addressed to all companies and the contract is tailored to the needs of the customer.
- It compensates with simple procedures and at an agreed time.
- It analyzes and monitors the solvency of the buyers of a business through a thorough and continuous collection of financial, credit financial and commercial information.
- It strengthens your business plans by expanding your sales into reputable trusted markets.
What positive results will your business have:
- Liquidity protection and improvement of the respective indicators.
- Increase and enhancement of your profitability and business activity.
- Comparative advantage of your company maximizing the market share in your industry.
- Easier access to financing at a lower cost.
- Improved Business Continuity Plan and Business Plan due to the reduction of unforeseen risks, bad credits and bad debts.
Guarantee Insurance - Surety Bonds
What are Surety Bonds?
The Guarantee Insurance is a tripartite agreement by which the Guarantor (first party) undertakes to the Beneficiary (second party) to cover the loss that may arise from the inability of the Insurer (third party) to fulfill its terms and conditions between their contract.
Why do I need Guarantee Insurance?
In an era of reduced liquidity and with the legislative amendment 4541/2018 made in the regime of issuing letters of guarantee, the insurance of guarantees issued by insurance companies is equal to that of banks both in the private sector and the public sector in the context of participating to public contests
The provision of a letter of guarantee by an insurance company ensures great flexibility because companies acquire alternative sources of guarantee for the necessary purposes of their business, increasing their creditworthiness without any caps withheld by their bank lending.
• Guarantee insurance guarantees the fulfillment of a variety of obligations from construction or service contracts, to the usual operations of commercial enterprises. Almost any sale, service or agreement can be secured through the issuance of a Guarantee Insurance Contract.
Which companies can be insured?
All companies, of any legal form that have a Greek VAT number, can apply for Surety Bonds guarantee insurance and a letter of guarantee will be issued in their favor after the conclusion of the insurance contract.
Indicative business sectors:
• Construction sector
• Tourism industry
• Food and beverage industry
• Trade of electrical appliances
• Pharmaceutical industry
• Clothing trade
