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The purpose of sales turnover insurance is to provide your company with protection against losses due to payment problems on the buyer’s end.

The insurance coverage can be used to cover all your sales or transactions to certain countries. It will help your company venture more boldly into new markets, gain better knowledge about business partners’ backgrounds and ensure financial stability.


  • You save time and money obtaining and evaluating background information on buyers
  • You gain the option of selling confidently on new and unknown markets
  • You derive a competitive advantage as instead of asking for a prepayment, you offer buyers a payment term
  • You will receive assistance in collecting debts
  • You will receive compensation if the buyer proves insolvent

For who?

  • starting enterprise
  • established company
  • exporting company

Service is suitable if

  • you are looking for broader insurance coverage for sales
  • you have buyers in Estonia and abroad
  • you plan to increase export volumes to new levels
  • the payment term for your buyers is generally 90 days (not more than 360 days)

Important conditions

  • Insurance covers losses your company incurs due to unpaid invoices
  • You will be indemnified for insurance events agreed upon in the insurance policy
  • Lines of credit can be sought for buyers
  • Buyers may be located abroad or in Estonia
  • The payment tern for your buyers is generally 90 days (not more than 360 days)
  • Your expenses on the insurance policy comprise the premium and the fee for evaluation of buyers
  • Additional options: insurance coverage for affiliates operating abroad, insurance coverage for production period, possible to combine with factoring service offered by banks
  • You are required to provide timely notice to KredEx should a buyer be late with a payment

The sales turnover insurance process

Fill in the form and send it to krediidikindlustus@kredex.ee. If you have any questions, contact our account managers.

Before making an offer, we will make sure whether we understood your company’s needs correctly and explain how the insurance works.

We will make you an offer listing the conditions of the insurance and expenses related to the insurance. We’ll also analyse the background of your most important buyers and explain how the insurance works.

If the offer was suitable, we will sign the insurance agreement and you will receive the invoice for the first premium. The insurance agreement runs 12 months, and the premiums generally are payable quarterly.

KredEx will approve the maximum line of credit that is covered by insurance for each buyer. During the insurance year, you can flexibly apply for lines of credit for new buyers and change the existing limits.

At the end of each quarter, we’ll expect your insured turnover declaration. At the end of the insurance period, we will perform an offsetting based on what your actual insured sales turnover came to.

If a buyer is late with a payment, first send them a reminder yourself. If this doesn’t help resolve the problem, let us know within 30 days of the end of the first collection attempt (you can find this on the insurance policy and it is usually 30 days). Send us the information by email to krediidikindlustus@kredex.ee or using the form on our website.

You can file a claim if an insurance event has occurred. This may be a bankruptcy or situation where an invoice is 180 days past due. Fill in the claim form, appending/attaching documents that substantiate the loss.

We will make the decision on the claim within one month after receiving the application and supporting documents. We will communicate our decision to you in writing.

KredEx Krediidikindlustus encourages responsible business conduct in regard domestic and international business transactions. This means inter alia reasonable care for identifying and preventing situations that may involve corruption risk and for avoiding commitment to grant, acceptance or arranging receipt of bribes in connection with business transactions from which arise payment risks that the parties wish to mitigate with credit insurance.

Every person involved in business transaction must comply with all relevant laws prohibiting bribery. In case of international business transaction, it is significant to comply with laws of every relevant country. Persons involved in business transaction must implement reasonable management and internal control systems in order to assure value aligned conduct within organisation and effectiveness of control environment.

KredEx Krediidikindlustus directs attention to fact that according to Estonian Penal Code both public and private sector bribery is punishable as well as bribery offences committed in foreign states. These offences are punishable by a pecuniary punishment or imprisonment and confiscation of assets or property acquired by the offence. 

KredEx Krediidikindlustus follows OECD Council recommendations for combating bribery in international business transactions https://legalinstruments.oecd.org/en/instruments/OECD-LEGAL-0447 

As recommended by OECD Council, KredEx Krediidikindlustus requests provision of declaration that any party of a business transaction nor anyone acting on behalf of that party is not connected to bribery; is not under charge or investigation in connection to bribery and that all fees payable in connection to the transaction will be for legitimate purpose only.  Declaration may consist in conditions of credit insurance contracts or on a separate formula. Partyʼs connection to bribery may result with the following actions by KredEx Krediidikindlustus: refusal of giving insurance cover, cancellation of insurance contract, suspension of indemnification or reclaim of already paid indemnification.

Contact us

Anneli Liinat
Client Manager
anneli.liinat [at] kredex.ee
Külli Saarepera
Client Manager
kylli.saarepera [at] kredex.ee
Ivika Kolk
Acting Sales Department Manager
ivika.kolk [at] kredex.ee

Before signing the contract, check the terms and conditions of AS KredEx Krediidikindlustus and, if you have any further questions, contact our specialists.