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The first step is the completion of an application – it is possible to fill-out the application and send online via e-Online, or you can fill-out an insurance contract form. The application/request is not binding, processing is free of charge, and we include a creditworthiness verification of your chosen buyers.
Not at all – all products have been designed not to place too much burden on clients. The individual stages of the insurance are very simple:
We always do our best to respond to the needs of our clients.
KUPEG insurance is discreet – it takes place in the background of the relationship between the client and the buyer, and the insurance company does not interfere with that relationship (with the exception of contact with the buyer being agreed in advance with the client or when the buyer has not paid).
The insurance is affordable –
|Percentage of unpaid receivables||0%||1%||5%||10%|
|Turnover in CZK||100,000,000||100,000,000||100,000,000||100,000,000|
|Margin in CZK (6%)||6,000,000||6,000,000||6,000,000||6,000,000|
|Fixed Costs in CZK||-2,000,000||-2,000,000||-2,000,000||-2,000,000|
|Premium in CZK (0,5%)||-500,000||-500,000||-500,000||-500,000|
|Write-off of Receivables in CZK||0||-1,000,000||-5,000,000||-10,000,000|
|Your Result without Insurance in CZK||4,000,000||3,000,000||-1,000,000||-6,000,000|
|Indemnification in CZK (85%)||0||850,000||4,250,000||8,500,000|
|Your Result with Insurance in CZK||3,500,000||3,350,000||2,750,000||2,000,000|
Yes. The insurer has the right to reduce or cancel a credit limit. The insurer is obligated to immediately notify the policyholder in writing, including the statement of the reason why. The reason for the reduction or cancellation of a credit limit is usually due to information on the worsening of the buyer’s economic situation, deterioration of their payment discipline or the buyer’s insolvency (adjudication of bankruptcy, judicial settlement with creditors, liquidation).
If you are using our online application (e-ONLINE) to access KUPEG’s databases, you can easily use the application to change or terminate your credit limit. If this is not the case, you can change the amount of a credit limit by filling out the >Application for a credit limit< form and enter the newly requested limit amount, or, in order to terminate a credit limit, send a written request containing the number of the Credit Limit Decision and indicate the date as of which you want to terminate the limit.
Credit limits are normally defined for an unlimited term.
I know the total expected volume of deliveries to be carried out during the term of the contract, the payment term and the distribution of deliveries …more
The processing time, from the time a credit application is submitted up to the time a credit limit decision is issued, depends on several factors: the territory involved; whether or not the relevant party is in the database of KUPEG (or information agencies); and whether or not current agency information is available. If the party has been found in the database and current agency information is available, the usual time of processing does not exceed 2 business days in the Czech Republic.
The highest value of the sum of anticipated undue receivables from a particular buyer with regard to the applicable payment term and delivery schedule. The credit limit is revolving.
Throughout the entire term of the credit limit, it is used as the approved amount to repeatedly insure receivables.
Yes, it will. The period within which a threat of an insurance claim is to be notified, as described in the insurance contract, is sufficiently long to conduct basic reminder procedures. The longer a receivable has been past due, the lower the chance is to recover it. The insured may attempt to recover the receivable without the insurer’s assistance even after the notification of a threat of an insurance claim …more
We do not do so in the majority of cases. The collection of receivables is dealt with on a case-by-case basis, using our experience in the proving, claiming and recovery of receivables. The receivables usually remain the property of the insured.
Yes. After reaching an agreement with the insured, KUPEG is actively involved in the debt collection process …more