Swiss export risk insurance

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Logo Swiss Export Risk Insurance (SERV)

The Swiss Export Risk Insurance (SERV) , based in Zurich, is a federal institution under public law in Switzerland . It insures export transactions by Swiss companies to politically or economically insecure countries as well as the financing of such transactions. Such assurances are repeatedly discussed controversially in public because there are different ideas about human rights, social and ecological demands on the projects.

Embedding and environment

According to the Export Risk Insurance Act, the federal government is striving for two goals with SERV: First, SERV helps to create and maintain jobs in Switzerland. Second, it promotes Switzerland as a business location by making it easier for Swiss exporters to participate in international competition. SERV has existed since January 1, 2007 as the successor organization to the Export Risk Guarantee ( ERG ), which was founded in 1934 as a measure against unemployment.

As an institution under public law, SERV works independently: it is independent in its organization and management and keeps its own accounts, but is supervised by the federal government. The relevant supervisory authority is the State Secretariat for Economic Affairs (SECO). The law regulates the tasks and services of SERV. Among other things, it stipulates that SERV operates on a subsidiary basis, i.e. that it offers its insurance in addition to the private sector.

offer

SERV offers insurance for Swiss exporters and for banks that finance Swiss export transactions. Among other things, exports of goods (consumer and capital goods, parts and components), exports of services (such as construction and engineering, license and know-how contracts) and contractual guarantees can be insured. SERV can cover political and economic risks (del credere risks). In contrast to its predecessor ERG, SERV can also insure the private buyer risk (buyers abroad are private companies). The prerequisite for taking out insurance from SERV is that the deliveries are either of Swiss origin or contain an appropriate Swiss share of added value. The exporter must also be registered in the commercial register and have its registered office in Switzerland. In May 2009, SERV introduced four new products as part of Federal Stabilization Measures II. These should make it easier for Swiss exporters in an economically difficult situation to access financing options and maintain the company's liquidity.

criticism

The support of individual projects is repeatedly criticized by development organizations and left-green parties. This is based on the argument that human rights, social or ecological aspects are not given enough consideration in lending. A prominent example is the Ilisu Dam in Turkey. After numerous requirements for environmental and cultural property protection were not met, Germany, Austria and Switzerland stopped export risk insurance on July 7, 2009.

See also

Web links

Individual evidence

  1. http://www.admin.ch/ch/d/sr/c946_10.html Export Risk Insurance Act SERVG
  2. Art. 5 SERVG
  3. http://www.serv-ch.com/dokumente/
  4. Art. 3 SERVG
  5. Art. 6 SERVG
  6. http://www.serv-ch.com/fileadmin//Files/PDF/online-schalter/uber-die-serv/SERV-Kompakt_d.pdf Brochure "SERV Compact" with information about SERV
  7. http://www.serv-ch.com/
  8. http://www.swissinfo.ch/ger/wirtschaft/Kein_Schweizer_Geld_fuer_Ilisu_Staudamm.html?siteSect=161&sid=10912042&rss=true&ty=st www.swissinfo.ch to the Ilisu dam