Hungarian Content
On of the most important requirements when applying for export credit, export guarantee or export credit insurance products is that the goods or services of the company applying for financing and insurance have a certain minimum Hungarian value added. The credible substantiation of this added value is called the Certification of the Hungarian Content. The document is issued by the Hungarian Chamber of Commerce or by the National Chamber of Agriculture in the case of export of goods, and by the Government Office in the case of export of services. When examining an export transaction to be financed or insured, at least one of the following main rules must be fulfilled. If the planned transaction is related to export of goods, then at least 50 percent of the delivered products must be considered to be of Hungarian origin in order for the given delivery to recieve a chamber certificate providing the Hungarian content. In the cases of construction and installation orders, the value of the main contractor agreement less financing costs must be of at least a quarter of certified Hungarian origin. If the new transaction qualifies as a service export, then more than half of the employed labour force by the client requesting financing or insurance must have a legal relationship with a domestic health insurance.