Export Credit Guarantees (Hermes Cover) Open
The Federal Export Credit Guarantees, known as Hermes Cover, protect German export transactions against economic and politically motivated payment defaults abroad. They offer a wide range of coverage options and significantly contribute to promoting German exports and securing jobs.
Who is Funded
Federal export credit guarantees are aimed at German exporters and their financing banks to secure export transactions abroad against political and economic risks. The program aims to promote German exports and secure jobs domestically.
What is Funded
The program covers a wide range of export transactions, from recurring deliveries to individual transactions such as construction services or custom-made products, and supports projects in various development phases.
Type and Scope of Funding
Hermes Cover offers state guarantees and sureties to secure export claims, with terms varying depending on the type of cover, typically up to 12 months for short-term transactions and longer for individual transactions.
Conditions and Requirements
The granting of Hermes Cover is subject to strict conditions regarding eligibility for funding, acceptable risk, and compliance with budgetary legal requirements. A German interest in the export transaction must exist.
Application Procedure
The application for Hermes Cover is submitted to Euler Hermes Aktiengesellschaft and decided by an interministerial committee led by the Federal Ministry for Economic Affairs and Climate Action. A preliminary opinion before contract conclusion is possible.
Legal Basis
Hermes Cover is based on the Guidelines for the Assumption of Export Credit Guarantees, issued by the Federal Ministry for Economic Affairs and Energy in agreement with other ministries and based on the Federal Budget Law.
Funding Overview
Deadline:
always open
Open Until:
Ongoing
Award Channel:
Demand Driven Scheme
Region:
Germany
Sectors:
Construction and Building Materials, Renewable Energy, Transportation and Logistics, Other
Funding Stages:
Product Development, Implementation, Service Delivery, Commercialization
Funding Provider
Program Level: National
Funding Body: Federal Ministry for Economic Affairs and Climate Action (BMWK)
Managed By: Euler Hermes Aktiengesellschaft
Additional Partners: Federal Ministry of Finance, Federal Ministry for Economic Cooperation and Development, Federal Foreign Office, Federal Court of Auditors, Kreditanstalt für Wiederaufbau (KfW), AKA Ausfuhrkreditgesellschaft mbH
Website: Euler Hermes Aktiengesellschaft