Coface is a globally operating credit insurer, offering companies solutions to protect them against the risk of financial default of their clients, both on the domestic market and for export. 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.
In 2013, the Group posted a consolidated turnover of €1440 million. 4,440 staff in 67 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.[citation needed] The company has been expanding into the related fields of trade finance, including factoring, and accounts receivable management.
Their main service offerings include:
