Credit Intelligence Opinions
Frequently Asked Questions
Credit Intelligence Opinions:
your questions answered.
What is a Euler Hermes Credit Intelligence
Opinion?
A Euler Hermes Credit Intelligence Opinion
is the maximum amount of credit we would
recommend you trade up to with a buyer within
your Discretionary Limit, backed up by our
wealth of global trade sector, country and buyer
knowledge and most importantly our insurance.
Our Credit Intelligence Opinion service provides
Credit Opinions on your buyers in the UK,
Ireland, Channel Islands and Isle of Man, and on
your buyers in 22 key export markets.
What are the key benefits of the Credit
Intelligence Opinion service?
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*3rd party information
agencies must be
approved in accordance
with your EHUK Policy.
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Online access to Euler Hermes unrivalled
global information network; saving you
time and cost of monitoring your domestic
and export risks
Positive Monitoring - automatic notification
of any increases in cover at no extra cost
Cover for domestic and all main export
markets in Western Europe, North America
and Australasia
Access to our global database of more than
40 million buyers worldwide providing
opinions that are backed by our up to date
local risk knowledge and our insurance
cover
An easy to use service which provides a fast
response to your Credit Opinion Requests
Enhanced standard policy terms – including
a higher insured percentage than other
methods of Discretionary Limit justification
Opinions which are valid for 12 months
Competitive priced service
Full online service
What’s the difference between a Credit
Opinion and an Approved Limit?
Both Approved Limits and Credit Opinions are
designed to establish an agreed level of cover
for any buyer under your Policy above and
below your Discretionary Limit. Above your
Discretionary Limit you must have an Approved
1
Limit issued by us in order to have any cover under
your Policy. If our Approved Limit is nil then you
have no cover on that buyer.
Below your Discretionary Limit, we allow
you greater flexibility to use either our Credit
Intelligence Opinions or alternative means
of justification - including your own trading
experience or information obtained from a 3rd
party information agency* - to justify trade under
your Policy without reference to us.
How long are Approved Limits and Credit
Intelligence Opinions valid for?
An Approved Limit remains valid under your Policy
(including any subsequent Periods of Cover) until
and unless we notify you otherwise in writing.
A Credit Intelligence Opinion is valid for 12 months
(subject always to your Policy continuation).
The period of validity for information obtained
from a 3rd party information agency may vary in
accordance with your Policy terms (standard terms
issued from January 2009 restrict the Justification
Period for 3rd party information to 6 months).
All Credit Opinions will expire at the end of their
approved period of validity and you must renew
your Credit Intelligence Opinion if you wish to
continue to use it as justification under your Policy.
Our EOLIS online system will help you to easily
manage your opinions renewal list to ensure you
continue to benefit from cover.
When can I start using the Credit Intelligence
Opinions service?
Immediately, as there is no registration required.
As a client of Euler Hermes UK you can access the
service online through EOLIS, our online Policy
management system.
How do I apply for an Opinion?
Log in to EOLIS and select the Credit Opinions
option from the Credit Services menu and follow
the simple application process. You will have direct
access to the company search facility in EOLIS,
should you need to identify the Euler Hermes ID of
the buyer.
If you are not an existing EOLIS user and would like
to become one – please contact our Customer
Line Team who will be delighted to set you up and
provide training where necessary. Tel: 0844 893
0000 or email: [email protected].
How quickly will I get a decision?
In most instances your decision will be instant.
Referrals should only occur:
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What amount of cover should I apply for?
The Credit Intelligence Opinions service does not
require you to make an application for a specified
amount of cover – we will always grant you the
maximum amount of cover we can agree for the
buyer (up to the amount of your Discretionary
Limit).
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Where your buyer is new to us and
we need to confirm the business’
credentials.
Where we have received no recent
information concerning the buyer and
need to review their credit rating.
I’ve previously had the Discretionary
Limit withdrawn on a buyer. Will a Credit
Intelligence Opinion on that buyer be valid?
Our Credit Intelligence Opinions are based on
the same unrivalled information and expertise
as our Approved Limits. If a Discretionary Limit is
withdrawn as a result of a nil Approved Limit, then
a subsequent positive Credit Intelligence Opinion
will reinstate that Discretionary Limit up to the
amount shown on the Credit Intelligence Opinion
for the duration of the Opinion.
What information will the Credit Intelligence
Opinion contain?
Our Credit Intelligence Opinion will provide you
with a specified maximum amount – which
may be equal to or less than your Discretionary
Limit – that may be used by you to justify trading
with the buyer company specified. The opinion
will be viewable online via EOLIS and will also
be delivered to you by email, fax or post in
accordance with your instructions.
What is Positive Monitoring?
We will always automatically issue the maximum
Credit Intelligence Opinion amount possible based
on our current assessment of your buyer. If we are
unable to cover the whole of your Discretionary
Limit when you first apply, and our credit
assessment subsequently improves so that we can
offer increased cover within your Discretionary
Limit, then we will automatically issue you with a
new increased amount at no extra cost to you and
without the need for an appeal. Such increases
will not alter the period of the original Opinion but
the increased value will apply to the start of your
Policy or to the latest previous nil Approved Limit
or Credit Intelligence Opinion.
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Can I still trade under my Discretionary Limit if
the Credit Opinion is nil?
Yes. For any Credit Opinion (issued by Euler
Hermes or an approved 3rd party information
agency) you are not bound by the amount of
the Opinion if you have alternative justification
that supports a higher amount under your
Discretionary Limit provided you trade within the
terms of your Policy.
40 million
+
Companies monitored in our risk database
What countries are covered?
How much does the service cost?
UK, Ireland, Channel Islands and Isle of Man,
Australia, Austria, Belgium, Canada, Czech
Republic, Denmark, Finland, France (inc DOM
TOM), Germany, Greece, Italy, Luxembourg,
Morocco, Netherlands, New Zealand, Norway,
Portugal, Slovak Republic, Spain, Sweden,
Switzerland and USA. The list is reviewed
regularly and we hope to expand the service to
other countries.
Your Approved Limit and Credit Intelligence
Opinions fees are detailed in the latest Credit
Intelligence Schedule of Fees (10/12) – if you
would like a copy, please contact our Customer
Line team on 0844 893 0000 or contact your
Account Manager or Broker.
What are the contractual terms of business
for the Credit Intelligence Opinions service?
The service is provided in accordance with the
Euler Hermes Services UK Ltd, Credit Intelligence
Services Terms and Conditions of Business
(EHS T&Cs 01/12) and Credit Intelligence
Schedule of Fees (10/12), copies of which you
should have received. If you have not received
these documents and wish to use the Credit
Intelligence Opinions service please call our
Customer Line Team on 0844 893 0000. Please
ensure that you read and understand these
documents before you request an Opinion.
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How will I be invoiced?
Credit Intelligence Opinions will be invoiced
monthly in arrears, by Euler Hermes Services UK
Ltd, in the currency of your Policy.
If you already receive a monthly invoice for your
Credit Intelligence Approved Limit service then
these fees will be incorporated into the same
invoice. A copy of the invoice and a detailed
breakdown of your Credit Intelligence Approved
Limit and Credit Opinion fees can be found
in EOLIS (location details will be outlined on
your invoice). Payment can be made by Direct
Debit. Where you are already paying for Credit
Intelligence Approved Limit fees monthly by
Direct Debit, these fees will simply be picked up
under the same Direct Debit mandate.
Contact Us
Important Note
For general enquiries – please call our Customer
Line on 0844 893 0000 or contact your Euler
Hermes Account Manager or Broker.
The contents of this document are for guidance only
and do not constitute or form part of the terms and
conditions of your Policy with Euler Hermes UK or the
Euler Hermes Services UK Ltd Credit Intelligence Services
Terms and Conditions of Business, which will prevail in
case of any conflict.
Should you wish to submit up to date financial
information in respect of a buyer based in the UK
or Ireland on which you have received a restricted
or nil Credit Intelligence Opinion – please call our
Buyer Line - 08444 122041 or email:
[email protected]
5
Euler Hermes UK
1 Canada Square
London E14 5DX
Tel: +44 (0)20 7512 9333
Fax: +44 (0)20 7512 9186
www.eulerhermes.co.uk
Euler Hermes UK is a branch of Euler Hermes Europe S.A (N.V.).
Branch registered in England and Wales with no BR015404,
registered branch address: 1 Canada Square, London E14 5DX.
Authorised by the National Bank of Belgium and the Belgian Financial Services and Markets Authority,
and subject to limited regulation by the Financial Services Authority. Details about the extent of our
regulation by the Financial Services Authority are available from us on request.