SERV Export Risk Insurance: Who Qualifies and What You Get
Protect your business from non-payment risks when exporting goods or services from Switzerland using this insurance scheme.
This insurance scheme protects businesses against the risk that foreign buyers will fail to pay for the goods or services they have purchased. It serves as a financial safety net for companies expanding their operations beyond Swiss borders.
Who it's for
This scheme is specifically designed for Swiss companies that are engaged in the export of goods or the provision of services to international markets. If your business operates from Switzerland and sells products or expertise to buyers located in other countries, you may qualify for this protection.
What you get
The primary benefit of this scheme is insurance coverage against non-payment risks. When you sell to a foreign buyer, there is an inherent risk that they may be unable or unwilling to fulfill their payment obligations. This insurance helps mitigate that financial danger, providing a layer of security for your international trade activities and helping to protect your cash flow from unexpected losses caused by foreign buyer defaults.
What it costs you
Using this insurance is not free; it requires premium payments to maintain coverage. The specific amount you are required to pay is not fixed but is instead calculated based on the specific risk profile associated with both the buyer and the country where the transaction is taking place. Higher-risk locations or buyers will result in different costs compared to lower-risk profiles.
The catch to know
It is important to understand the limitations of this coverage before applying. This scheme is not intended to cover commercial risks associated with the sale of short-term consumer goods. You should verify that your specific type of goods or services falls within the eligible categories before seeking protection.
How to apply
- Visit the official SERV portal to review the specific terms and eligibility requirements.
- Evaluate the risk profiles of your international buyers and the countries they are located in.
- Prepare the necessary business information required for the application process.
- Submit your application through the official online channels provided by the issuer.