Annahmeschreiben confirmation (by Hermes and the Ministry) of acceptance of the application
| Creator: | |
| Language pair: | German to English |
| Definition / notes: | The definition of Hermes policy will typically refer to the Hermes Declaration of Guarantee but may be linked to the confirmation by Hermes and the Ministry of acceptance of the application leading to the final commitment for cover. Conditions precedent relating to the Hermes cover will include delivery of the Declaration of Guarantee and/or the letter confirmations from Hermes and the Ministry confirming the final commitment for cover, the export contract itself, an exporter indemnity, a manufacturer’s indemnity and evidence that the 15% down payment has been made. |
| URL: | http://www.nortonrosefulbright.com/knowledge/publications/79558/hermes-buyer-credit-guarantees-in-project-financing |
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