Algeria
Argentina
Australia
Austria
Belgium


COFACE WEST AFRICA BENIN
47-48 Quartier Guinkomey
7565 Cotonou 01

Tel./Fax: + 229 21 31 65 89
e-mail: commercial_bn@coface.com

Benin
Brazil
Bulgaria

COFACE WEST AFRICA BURKINA FASO 
Secteur 05, 1268, avenue Kwamé N'Krumah
01 BP 3240 Ouagadougou
Tel./Fax: +226 50 33 01 13

Cell.: +226 70 28 30 68
e-mail: coface_westafrica@coface.com
Office manager: djeneba_ouedraogo@coface.com
Managing director: philippe_hoeblich@coface.com
Burkina Faso


COFACE SERVICES WEST AFRICA CAMEROON

Imm. BICEC - 4ème étage
Avenue de Gaulle Bonanjo
BP 18342 Douala
Tel.: +237 33 42 51 53
Fax.: +237 33 42 00 96

Cameroon
Canada
Chile
China
Coface Group
Colombia
Costa Rica
Croatia
Czech Republic
Denmark
Ecuador
Egypt
Estonia
France



COFACE GABON SERVICES
Immeuble DIAMANT
2è étage
BP 1070
Libreville
Tel. : + 241 05 03 69 05
Fax : + 241 76 13 50
Email : coface_westafrica@coface.com

Gabon
Germany
Hong Kong
Hungary
India
Ireland
Israel
Italy

COFACE SICR COTE D'IVOIRE
2 Cocody Plateaux
Lot n°85 Ilot 9
18 Abidjan
Tel.:+ 225 22 41 49 68
Fax.:+ 225 22 41 48 49
Ivory Coast
Japan
Latvia
Lithuania
Luxembourg

COFACE SERVICES MALAYSIA SDN BHD
CP 17, Suite 1304 13th Floor,
Central Plaza, 34 Jalan Sultan Ismail
50250 Kuala Lumpur
Tel.:+60 (3)  2141 3380
Fax.:+60 (3) 2141 3381
e-mail:
enquiries@coface.com.my
Malaysia



COFACE WEST AFRICA MALI
Imm. Dramane Kouma
Av Cheick Zahed
BP E 4770 Bamako
Tel./Fax : +22 32 29 26 45

Mali
Mexico
Morocco
Netherlands

COFACE NORWAY
Postboks 2006 Vika
0125 Oslo

Norway
Peru
Poland
Portugal
Romania
Russian Fed.


COFACE SICR SENEGAL

43, rue Albert Sarraut
Immeuble AGS Parchappe
BP 12454 Dakar
Tel: +221 33 823 69 92
Fax.: +221 33 842 08 87

Senegal
Serbia
Singapore
Slovakia
Slovenia
South Africa


COFACE SERVICES KOREA CO LTD
Kyobo Life Insurance Bldg. 9F
1 Jongno 1-ga, Jongno-gu
Seoul 110-714
Tel.:+82 (0)2 2088 7401 
Fax.:+82 (0)2 2088 7474
e-mail: jinhak.ryu@coface.com

South Korea
Spain
Sweden
Switzerland
Taiwan


COFACE HOLDING (THAILAND) CO LTD
622 Emporium Tower - 10th Floor - Room 10/8
2 Sukhumvit 24 Road,
Kwang Klongton, Khet, Klongtoei
10110 Bangkok
Tel.: +66 (02) 664 89 89
Fax.: +66 (02) 664 89 98
e-mail: marketing_thailand@coface.com

Thailand


COFACE WEST AFRICA TOGO
22, Boulevard de la Paix
Immeuble ERAD
Quartier Super TACO
BP 899 Lomé
Tel./Fax: +228 220 89 58

Togo
Turkey
UAE
Ukraine
United Kingdom
United States
Venezuela

COFACE VIETNAM SERVICES

6 Suite 1719, 17th floor, Gemadept Tower
Le Thanh Ton Street, Ben Nghe Ward,1st Dist
Ho Chi Minh
Tel: +84 8 62 556 928
Fax: +84 8 62 556 801
e-mail: coface_vietnam@coface.com 

Vietnam

Credit insurance


The main types of payment between trading parties

Lack of working capital is one of the main difficulties preventing companies from expansion of their activity, improving production quality as well as starting the new competitive production, even local and foreign market have enough demand for that product. Particularly need for working capital is important, when trading partners has trade credit terms.

Scheme of Credit insurance

Under the competitive circumstances Suppliers are forced to give favorable payment conditions for buyers, therefore the growth of trade receivables is the main reason influencing lack of Supplier‘s current assets and risk, that buyer will not be able to pay in time for the received production or services. In order to minimize the credit risk for the Suppliers, Coface offers credit insurance scheme, which can include and factor-current assets backer..

Credit insurance scheme with factoring possibility

Credit insurance


1. Supplier makes credit insurance contract with Coface;
2. Supplier sells goods to Buyer under the credit periods terminated in the sales contract;
2.1. Supplier can approach to Bank for factoring (a loan) giving the bank the insured debtors list;
2.2. Factor, on the ground of insured customers, gives the sponsorship to the Supplier;
3. Buyer pays for the goods and transfers money for Supplier;
3.1. Buyer pays for the goods and transfers money to Factor under the factoring agreement;
4. If Buyer does not pay, Coface pays out the indemnification for Supplier;
4.1 If buyer can not pay for the goods, Coface pays out the indemnification for Factor, if supplier financed insured debts.

Insurance (Supplier and Coface)

When Supplier sends goods for the buyer with credit period nonpayment risk of buyer arises to. Supplier can approach for credit insurance to Coface if there is a need to reduce the nonpayment risk of the buyers.
Coface makes credit insurance contract with Supplier under the certain insurance conditions as well as each buyer’s credit rating appraisal and settlement of certain the credit limit. Coface commits to cover up to 90 % of Supplier’s losses raised due to insolvency or nonpayment of the insured buyer.

Credit insurance with sponsorship opportunity (Supplier and factor)

Banks in their practice finances trade agreements by pledging trade receivables. The source for covering the financed trade agreement is trade receivables indicated in the trade agreements.

Supplier pledge to Factor insured receivables. Special account is opened for Supplier to get buyers fees. Supplier together with credit insurance contract gives Factor Coface’s confirmed credit limits for the buyers. Supplier indicates bank account to the buyer where the buyer must transfer payment for received goods. If Supplier wants to get money for invoices, they must be provided to the Factor. Factor finances supplier’s invoices within the amount of buyers credit limits estimated by Coface.



Guarantee to cover overdue payment (Coface and factor/Supplier)

In case of Buyer’s nonpayment for Supplier Coface is liable to cover losses to the Factor or supplier in the range of estimated credit limit and under insurance conditions. This means that Factor can be indicated as beneficiary in credit insurance contract.

If Supplier does not use factoring services the Supplier is indicated as beneficiary in credit insurance contract. In this case, insurance indemnification due to the buyer’s nonpayment/ insolvency is paid to Supplier.