Cost
The charges for these export credit guarantees include an application fee, a policy-issuing fee, a risk-dependent commission, a duration-dependent commission, and an additional charge. The costs depend on the type, size, and duration of the transaction and on the risk assessment for the importing country. In the case of a claim, there is an excess paid by the exporter, generally between 5 and 15 percent.
Read more about this topic: Hermes Cover
Famous quotes containing the word cost:
“Keeping accounts, Sir, is of no use when a man is spending his own money, and has nobody to whom he is to account. You won’t eat less beef today, because you have written down what it cost yesterday.”
—Samuel Johnson (1709–1784)
“How much would it cost you to stand at the wrong end of a shooting gallery?”
—S.J. Perelman, U.S. screenwriter, Bert Kalmar, Harry Ruby, and Norman Z. McLeod. Groucho Marx, Horsefeathers, Huxley College president to con artist Baravelli (Chico Marx)
“Apparently, a democracy is a place where numerous elections are held at great cost without issues and with interchangeable candidates.”
—Gore Vidal (b. 1925)