Flat-rate export guarantee
The export flat-rate guarantee ( APG ) is an export credit guarantee from the Federal Republic of Germany. It secures short-term receivables with credit periods of up to 12 months against payment default. APG is part of the international business insurance ( Hermes guarantee ), which covers not only guarantees but also other risks. In 2006 the Interministerial Committee (IMA) completely revised the APG and made it more customer-friendly.
Product description
The exporter who supplies several customers in different countries can
commercial risks , like
- Insolvency of the customer
- Non-payment of the claim within 6 months after the due date (protracted default)
political risks like
- government action
- warlike events
- Failure to convert / transfer local currency amounts
- Confiscation of the goods as a result of political circumstances
- Impossibility of fulfilling the contract due to political circumstances
Secure with APG. The special thing is the term of 12 months.
Export flat-rate guarantee light
The export flat-rate guarantee light (APG-light) secures the short-term receivables with credit periods of up to 4 months, primarily from small, medium-sized exporters (with export sales that can be covered up to a maximum of EUR 1 million per year) who supply several customers in different countries, in a cost-effective and procedurally particularly simple manner.
It protects against non-payment of the claim within 6 months of the due date (protracted default).