Manufacturing risk
The manufacturing risk ( English manufacturing risk ) is in foreign trade is the danger that during or after the production of the commodity policies in the country of the importer to the exporter may prompt the goods not to ship or the shipping of goods because of him insolvency is unreasonable of the importer .
General
The manufacturing risk only applies to goods that still have to be manufactured after ordering and are not in stock . It begins with the start of production and ends with the dispatch of the finished products from the company. The manufacturing risk plays a major role in export credit insurance and foreign trade finance. The risk bearer is the exporter for whom the manufacture or dispatch of the goods becomes impossible or unreasonable due to force majeure . The risk of the importer's insolvency during the production of the ordered goods up to delivery is also part of the manufacturing risk .
validation
The risk of the exporter is through export credit insurance cover taken that during production of the goods circumstances occur, giving it a delivery or acceptance of the goods impossible to do. The insured event occurs if force majeure occurs during the production process in the importer's country and / or the importer becomes insolvent. Manufacturing risk is the risk that occurs before the goods are dispatched. The insurance covers the costs incurred by the exporter up to the (premature) end of production, up to a maximum of the order value. On the other hand, the export risk ( del credere risk ) is the risk after the goods have been dispatched, for example through an embargo in the importing country; the purchase price is covered here .
The payment risk of the importer may be carried outside the manufacturing risk coverage guarantee of payment of a credit institution or insurer to be covered.
insurer
Typical insurers of the manufacturing risk are Euler Hermes (Germany), Oesterreichische Kontrollbank (Austria), Swiss export risk insurance (Switzerland) or Coface (France).
Others
In business administration , the risk of production downtime , for example from operational disruptions or incorrect production , is dealt with. It can largely be covered by business interruption insurance.
Individual evidence
- ↑ Dieter Farny / Elmar Helten / Peter Koch / Reimer Schmidt (eds.), Handwortbuch der Versicherung (HdV) , 1988, p. 178
- ^ Jörg Freiherr Frank von Fürstenwerth / Alfons Weiss, Insurance Alphabet (VA) , 2001, p. 230
- ^ Georg Walldorf (ed.), Gabler Lexikon Auslands -shops , 2000, p. 215
- ↑ Springer Fachmedien (Ed.), Gabler Wirtschaftslexikon , Volume 1, 2000, p. 1039
- ^ Gunter Stahr / Rainer Busch / Günther Flemming / Wolfgang Lehr , Außenwirtschaftsalphabet , 8th edition, Bank-Verlag, Cologne 2006, p. 144
- ↑ Klaus Kuttner, Export Financing: Reference book for practice , 1992, p. 122