Article by Christian Becker in Versicherungspraxis 9/2011
Many companies grant their customers a commercial credit. The company allows its customers a time for payment of some weeks or even months after invoicing the services provided.
The long-term credit period constitutes an economic advantage for the customer. The lending company takes the economic risk that the payments are not made due to a meanwhile insolvency of the customer.
In order to hedge the default risk, the lending companies conclude commercial credit insurance contracts. The lending companies expect from the commercial credit insurer to compensate for unpaid and thus omitted accounts deducting an own contribution as agreed in the contract.
As the examination of the case of the Higher Regional Court Koblenz will show, these expectations are not always met.
Download full article as PDF