The SCHUNCK GROUP operates its own Competence Center specifically for credit insurance, factoring and guarantees, where banking and insurance experts continuously adapt the insurance solutions to current developments.
Today, a guarantee through an insurer is an alternative to a bank guarantee. All guarantee requirements in connection with the delivery and performance of a company can also be represented by a so-called guarantee insurance (Kautionsversicherung). This is particularly suitable for:
- Rental collateral
- Fuel/ fuel cards, tolls, leasing
- Authorities (customs, import sales tax, IATA, recultivation)
- Performance of contract, down payment, warranty
- Other operational safeguards, such as working time accounts and partial retirement
What is the typical situation of a company?
Guarantees are traditionally provided through a company’s local bank. In accordance with the German Banking Act (Kreditwesengesetz), the amount of guarantees issued must be credited to the total bank line of a company. Shifting the guarantees to an insurer reduces the strain on the bank line, and lines that become free can be used for a current account credit or long-term loans, for example.
What solutions does the SCHUNCK GROUP offer?
The SCHUNCK GROUP reviews existing guarantee obligations and creates an insurance solution based on an individual analysis, which is specially adapted to the needs of the company. Depending on the company and situation, special contract forms and special conditions are possible.
What are the advantages of SCHUNCK guarantee insurance?
- simpler application and acceptance procedure
- guarantees from insurers have the same acceptance as bank guarantees – nationally and internationally
- of course also certificates on “first call
- individual guarantee texts can be taken into account
- transparent and attractive pricing
- no or little collateralisation (no real security required)
- relief of the bank line by shifting the guarantees to an insurer
- all types of guarantees
- no industry exceptions