endgültige Indeckungnahme final commitment for cover
| Creator: | |
| Language pair: | German to English |
| Definition / notes: | Following confirmation that all project agreements and financing documents have been signed the Ministry and Hermes will issue letters confirming the decision on a final commitment for cover (endgültige Indeckungnahme) which as matter of German law constitutes acceptance of the application and results in the contract of guarantee (Gewährleistungserklärung) between the Federal Government (represented by its agents, Hermes and PwC) and the applicant. |
| URL: | http://www.nortonrosefulbright.com/knowledge/publications/79558/hermes-buyer-credit-guarantees-in-project-financing |
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