Compagnie Française d'Assurance pour le Commerce Extérieur

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"Coface" redirects here. For a simplex which has another simplex as a face, see Simplex.

The Compagnie Française d'Assurance pour le Commerce Extérieur (COFACE) was founded in 1946 as the French export credit agency. It was subsequently privatized by the government and continued as a commercial enterprise. Currently, COFACE is owned by the bank group Natixis.

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.

Furthermore, together with creditreform la Coface launch an International identifier EasyNumber which gives to every single Business Unit of an economic actor. This service is manage by a joint venture EasyNumber Company SA.^[1]

In the UK and Ireland, Coface UK provides:

Accounts Receivable Insurance (Trade Credit Insurance)
Single Risk and Political Risk Protection
International Business Information
Commercial Collection Services
Country Risk Information
Receivables Finance
Performance Bonds & Duty Deferment Guarantees (Surety)

In North America, Coface North America provides:

Accounts Receivable Insurance (Trade Credit Insurance)
Single Risk and Political Risk Protection
Receivables Finance
International Business Information
Commercial Collection Services
Kompass Business to Business Search Engine
Country Risk Information

In Australia, Coface Services Australia provides:

Company Information
Receivables Management
Receivables Protection (Trade Credit Insurance)
Receivables financing

[edit] 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:

A1 : Steady political and economic environment, good payment record of companies, very weak default probability
A2 : Political and economic environment or payment record of companies not as good as A1, default probability being still weak
A3 : Payment record usually lower than A1 and A2, likely to be modified by adverse political or economic circumstances, probability of a payment default being still low
A4 : Patchy payment record, likely to be modified by a deteriorating political and economic environment, probability of a default being still acceptable
B : Unsteady political and economic environment, usually poor payment record
C : Very unsteady political and economic environment, frequently bad payment record
D : High risk profile of the economic and political environment, very bad payment record.

Coface country risks rating (2006).

A1

A2

A3

A4

B

C

D

not available

[edit] Equivalent in the world

France : Euler Hermes
United Kingdom : ECGD
China : Eximbank

[edit] References

^ http://www.cfo-news.com/Creditreform-and-Coface-present-the-Easy-Number-to-partners-from-around-the-world_a2412.html

[edit] External links

[0] ttp://www.cfo-news.com/Creditreform-and-Coface-present-the-Easy-Number-to-partners-from-around-the-world_a2412.html

[1]

Compagnie Française d'Assurance pour le Commerce Extérieur

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[edit] Country risks rating

[edit] Equivalent in the world

[edit] References

[edit] External links

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