Context
Presenting security funds and explaining the financial verification process to a prospect.
Talk Track
VERSION 1
INTRODUCTION: SECURITY FUNDS
Security funds are there to protect your business and your talent, not to create extra cost. They include a deposit and, in some cases, severance accrual. If your financial standing is strong, no deposit is required and severance accrual is optional. When funds are needed, they stay fully yours and are only used for the agreed purpose.
DETAILED PROCESS
All financial checks are handled by Allianz using publicly available data. They rate your financial standing from 1 to 10.
Grades 1 to 5: no deposit, severance accrual optional
Grades 6 to 7: deposit required
Grades 8 to 9 or limited data: deposit, severance accrual and an extra month’s deposit, which can be refunded after six months of strong payment history
It is important to note that the financial verification process is ongoing. Allianz reassesses financial standing on an ongoing basis, and any security fund requirements are aligned to the most up to date score. It is a fair and objective process designed to keep your setup secure.
DEPOSIT
The deposit is a one time, refundable amount based on total employment cost and the legal notice period in that country, with a minimum of one month rounded to the nearest 500 in the invoicing currency. If you extend the notice period, the deposit adjusts. You get the full amount back at the end of employment.
SEVERANCE ACCRUAL
In countries with complex severance rules, we set aside 6.5 % of the talents monthly salary to protect you from a large final invoice. Any unused balance is reimbursed at the end of employment. It is simply a safeguard to keep everything predictable.