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I. What is « the COFACE »? II. History and key dates III. Missions What they do? Protection Information Receivables Man

I. What is « the COFACE »? II. History and key dates III. Missions What they do? Protection Information Receivables Management Receivables Financing IV. A case study for a better understanding. . Introduction. Companies want to have at one’s disposal: effective tool

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I. What is « the COFACE »? II. History and key dates III. Missions What they do? Protection Information Receivables Man

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  1. I. What is « the COFACE »? II. History and key dates III. Missions What they do? • Protection • Information • Receivables Management • Receivables Financing IV. A case study for a better understanding.

  2. Introduction • Companies want to have at one’s disposal: • effective tool • adapted to their needs • to manage at time • in safety • at the least cost • The COFACE offers: • some solutions in order to manage, to protect and to finance their clients’ post. Thus they are able to externalize all or a part of risks linked to their trade relationship and this in their own country and abroad.

  3. I. What is « the COFACE »? • COFACE (Insurance company of the foreign trade) • The « Compagnie française d'assurance pour le commerce extérieur » is the main French export credit agency. It provides guarantees for export credits on 30-day and 60-day time scales for export companies based in any country, sometimes on longer time scales; it manages state guarantees for exports by French corporations; and also provides some other international support for exporters. • Coface is a world leader in trade-credit information and protection, serving 85,000 clients in 93 countries.

  4. Coface has direct operations in the six major continents of the world, through local subsidaries and branches represented across 58 countries: • In countries where Coface does not have a subsidiary or branch, clients are served by high quality partners via the CreditAlliance credit insurance & information network, which offers a local service across 93 countries.

  5. II. History and key dates • 1946: foundation as a specialised export credit insurance company. • 1992: international expansion set up of the CreditAlliance network of credit insurers. • 1994: Coface is privatised. • 1995: The CreditAlliance network is extended to credit information. • 2000: Coface launches @rating

  6. History and key dates • 2002:Natexis Banques Populaires becomes Cofaces majority shareholder.  • 2004: Coface acquires Ort from Reuters. • 2005: Coface acquires South African credit insurance company CUAL and Lithuanian LEID. • 2006: Coface acquired the majority stake in Business Data Israel (BDI), the leading credit information provider in Israel Coface North America acquired the commercial debt recovery firm, Newton & Associates. • Creation of Coface Services (merger between Coface Scrl and Coface Ort)

  7. III. Coface's mission • Coface's mission is to facilitate global business-to-business trade by offering companies four products lines to help them manage, finance and protect their receivables (i.e. all credit granted for a period of 30 days, 60 days or sometimes more to other companies in the course of their commercial relations): • 4 main services are offered to the clients: • Protection • Information • Receivables management • Receivables financing • Coface also offers three other business lines: • guarantee insurance,• • receivables management training, • in France, public procedures management for export guarantees given by the French State

  8. Protection

  9. Information

  10. Coface country risks rating (2006). • Coface assigns a rating to each of the 150 countries it monitors; this rating reflects the average risk of short-term non-payment for companies in this country. Seven families are used:

  11. Receivables management

  12. Receivables financing

  13. Insurance payments  Prospecting insurance IV. Case study What is the interest of a prospecting insurance? The prospecting insurance is an insurance against the trade failure risks for an action of a prospecting abroad and financial support.

  14. Ce sont les commentaires liés au tableau précédent: le vocabulaire utilisé est il adéquate à la matière et à la situation? • The process is easy: • During the period of guarantee, the Coface pays an allowance at the end of the financial year according to the engaged expenses in the limit of the budget of guaranteed expenses and earnings made in the area of guaranty during the financial year regarded. • During the sinking (amortissement) period, the policyholder pays back each year a percentage on the earnings made in the area provided by the contract. • In all the case, the policyholder doesn’t pay back more than the allowance paid. • The guaranty enters in a contract which is defined: • The area of guaranty • The guaranteed budget • The date of the start of the contract and the term contract (durée du contrat) • The rate and the term of the sinking • The modes of compensation • The premium (la prime)

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