Frequently Asked Questions

What is the minimum amount for a CelsiusPro certificate?
Standard certificates start from € 500.

When will I be paid out?
5 days after expiry of your certificate, we will inform you about the weather data measured at your specified weather station and will let you know how high your payout will be. The payout will automatically be wired to your account within 30 business days (if applicable).

How many days in advance do I need to buy my certificate?
• The certificate has to be purchased minimum 28 days prior to your specified start date of your certificate. New clients should be aware that certain formalities need to be completed in this timeframe as well (for details, please see ‘open account’ on our website).
• The premium has to be settled in our account minimum 15 days prior to start date of your certificate.

How do I pay for my certificate?
Certificate payments are simply done via a bank transfer to a Swiss bank account of CelsiusPro. All relevant account details incl. bank name and account number which you need for the bank transfer can be found on the second page of your Term Sheet.

What discount do you offer for the winter season?
There will be no 'Membership Bonus' and no 'No-Payout-Bonus' for this winter season.

What security and guarantee do I have that CelsiusPro will pay out the amount I would be entitled to?
Certificates are hedged with our strategic partner, MSI GUARANTEED WEATHER. Hence, the potential payout sum of our customers is always fully covered.

What if the weather data I measured is different from the weather station I specified in my contract?
CelsiusPro certificates are strictly linked to the weather data measured by the weather station specified in your contract. Privately measured or other weather data (including such of other weather stations) do not apply and cannot be taken into consideration.

What if there is no weather station in my area?
• Temperature related Certificates: temperature is usually homogeneous across a large area and regions, hence it is possible to also choose a weather station that is outside of your proximity.
• Precipitation related Certificates: unlike with temperature, rain and snow fall can vary also between areas that are very close to each other.

What is ‚basis risk‘?
Basis risk describes the risk that the measurement results of your specified weather station could not match with the actual weather conditions residing in the area you would like to protect your financial risk against.

What is my maximal potential loss?
In the case that your pre-defined adverse weather conditions of your certificate do not occur, your business will be doing well due to good weather and your maximal loss will only be the premium you paid for your certificate.

What are minimum and maximum timelines for certificates?
Generally, for most of our certificates the following regulations apply: minimum 3 days, maximum 12 months.

What is a weather derivative, i.e. certificate?
A weather derivative is an option based on underlyings such as temperature, precipitation, wind etc.
The weather indices are linked to the measurements by independent national weather stations across Europe.
The contract parameters for weather derivates are usually:
Weather station; weather data (temperature, rain, snow); cover period (minimum 3 days, maximal 365 days); payment amount per unit (e.g. x mm rain); payment amount per contract (maximum limit).


When is weather data measured?
Weather data is measured for the specific dates in the cover period. The start and end date are always included. The national weather stations have different regulations on start and end time of daily weather data measurements. In Switzerland for example, rainfall is measured from 05.40-05.40 UTC (D0-D1) and in Australia 09.00-09.00 local time (D0-D1).

How is a CAO Wind Chill Day Certificate calculated?
Wind chill is calculated as a combination of wind speed and temperature. For this certificate we are using KNMI’s official JAG/TI method where CAO wind chill temperature is calculated based on the following formula:

CAO Wind Chill Temperature = 13.12+0.6215*T-11.37*(FF*3.6)^0.16+0.3965*T*(FF*3.6)^0.16

where


• FF = Mean wind speed (in m/s) at 10 m height during the 10-minute period preceding at 10:00 CET

• T = Temperature (in degrees Celsius) at 1.50 m height at 10:00 CET

How do I check the weather data linked to my certificate?
Via your user account (client login) you will be able to view the weather data measured by your specified weather station.

Why is the weather data reported for my certificate not up to date?
In some cases, measurements are made available with a short delay. In this eventuality, we would kindly ask for your patience. If the data still is not available after 5 days, please contact us.

How do I become a client?
All account opening forms can be downloaded from our website. Once we received and accepted all completed and signed forms, you will be notified and welcomed as official CelsiusPro customer.

I did not yet decide to buy a certificate. Is it recommended to start the client acceptance procedure?
If it is likely that you will buy a certificate in the near future we recommend to start the procedure.

Can I return my certificate before expiry?
No, certificates are subject to the time frame defined by you in your contract and cannot be returned or refunded.

Can I sell my certificate to someone else?
No. Potential payouts will only be forwarded to the registered bank account of the original certificate holder and registered CelsiusPro customer.

By when do I need to pay my premium?
Certificates have to be settled in our accounts minimum 15 days prior to your specified start date in order for them to be valid.

Who measures the weather data?
KNMI's weather stations measure the weather data, to which the certificates are strictly linked to.

As of when is a certificate valid?
As soon as CelsiusPro has received and accepted all the required account opening documentation (for new customers) and the premium has been wired to our account. (Please note that the certificate has to be finalized a minimum of 28 days, and the premium settled with our account minimum 15 days prior to the certificate’s specified start date.

What kind of weather certificates do you have?
Please check our homepage and under "Your industry" for a description of our products for construction.

How about my cover during the national holidays and the winter break?
CelsiusPro is, in consultation with Bouwend Netherlands, excluding the following dates from coverage as most companies will not be pursuing business. These days are therefore not included in the risk period even if the weather parameters are met. The excluded days are not considered as working days. If your company however is pursuing business on the excluded days, it is possible to structure a tailormade solution.

There are no days excluded automatically. Please contact info@celsiuspro.com if you wish to have a custom risk period with specific days excluded.