Hermes cover is a common way of referring to an export credit guarantee (ECG) by the German Federal Government. It is also referred to as a Hermesdeckung in German.
These guarantees are an important part of German foreign trade policy and protect German companies in the event of non-payment by foreign debtors.
Read more about Hermes Cover: Type and Volume of Export Promotion in The Form of Hermes Cover, Management of The Scheme, Cost, Economic Importance, Types of Risk, Criticism, Environmental Aspects
Famous quotes containing the words hermes and/or cover:
“Antiquity breached mortality with myths.
Narcissus is vocabulary. Hermes decorates
A cornice on the Third National Bank.”
—Allen Tate (1899–1979)
“You may call a jay a bird. Well, so he is, in a measure—because he’s got feathers on him, and don’t belong to no church, perhaps; but otherwise he is just as much a human as you be. And I’ll tell you for why. A jay’s gifts and instincts, and feelings, and interests, cover the whole ground. A jay hasn’t got any more principle than a Congressman.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)