Insurance of the Exporter’s Legal Liability to Financial Organizations | Export insurance company «KazakhExport»

Insurance of the Exporter’s Legal Liability to Financial Organizations

Insurance of civil liability of exporters to financial organizations is a tool that allows a Financial institution to get insurance coverage against the risk of non-payment by Kazakhstan enterprise (Exporter) for its obligations under the Guarantee.

Insurance Procedure
  • The Exporter enters into an export contract with the Importer with the possibility of deferred payment.
  • The Exporter submits an application for a guarantee to a Financial institution.
  • The Exporter applies to KazakhExport for insurance.
  • KazakhExport reviews the application and enters into an Insurance Contract with the Exporter.
  • The Credit institution provides a guarantee for the obligations of Kazakhstan enterprise (Exporter)
  • KazakhExport provides insurance coverage to a Financial institution in the event that the Exporter fails to fulfill its obligations under the Guarantee.
  • If the Exporter fails to fulfill its obligations under the Guarantee, KazakhExport compensates the losses of the Financial institution.