The premium is calculated on the basis of the premium report submitted by the policy holder. The method of calculating the premium is set out in the insurance contract. The costs of credit insurance are therefore different for each policy holder.
The minimum amount payable by the policy holder per insurance year, irrespective of the policy holder's reported balance or turnover.
In credit insurance, a receivable is understood as a claim arising from the delivery of goods or services. In other words, if the policy holder has already delivered and invoiced the goods to its customer, but the customer has not yet paid the invoice, the policy holder has a receivable from its customer.
Overdue receivables are receivables that have not been paid within the agreed payment term. See also maximum extension period exceeded.