Compagnie Française d'Assurance pour le Commerce Extérieur

"Coface" redirects here. For a simplex which has another simplex as a face, see Simplex.
COFACE building in Mainz, Germany

The Compagnie Française d'Assurance pour le Commerce Extérieur (COFACE) is a globally operating credit insurer, offering companies solutions to protect them against the risk of financial default of their clients, both in the domestic market and for export. In 2011, the Group posted a consolidated turnover of €1.6 billion. 4,600 staff in 66 countries provide a local service worldwide. Each quarter, Coface publishes its assessments of country risk for 157 countries, based on its knowledge of companies’ payment behaviour and on the expertise of its 250 underwriters.

In France, Coface manages public export guarantees on behalf of the French state, acting as France's Export Credit Agency.

Coface provides guarantees or insurance on accounts receivable arising from the sales of commercial goods and services on credit terms of 30-day and 60-day time scales especially for export companies (as an alternative to making the foreign purchaser obtain a letter of credit), 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 (Trade Credit Insurance), serving 160,000 clients in 93 countries. The company has been expanding into the related fields of trade finance, including factoring, and accounts receivable management.

In 2007, together with creditreform Coface launched an International identifier EasyNumber which it assigns to every single Business Unit of an economic actor. This service is managed by a joint venture EasyNumber Company SA.[1]

History and ownership

Coface was founded in 1946 as the French export credit agency. It was privatized by the government in 1994 and continued as a commercial enterprise.[2]

In 2014 Coface was introduced at the stock echange Euronext Paris, thus now having this stock distribution: public 58,50%, Natixis 41,24%, employees 0,26%

Products

In the UK and Ireland, Coface UK provides:

In North America, Coface North America provides:

In Australia, Coface Services Australia provides:

Country risks rating

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:

Coface country risks rating (2006).

  A1
  A2
  A3
  A4
  B
  C
  D
  not available

Equivalent in the world

References

  1. ↑ "Creditreform and Coface present the Easy-Number® to partners from around the world". Cfo-news.com. Retrieved 2012-05-04.
  2. ↑ "coface History".

External links

This article is issued from Wikipedia - version of the Monday, April 04, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.