Insurance of the Exporter’s Short-Term Receivables | Export credit agency of Kazakhstan

Insurance of the Exporter’s Short-Term Receivables

This tool is designed to protect exporters and financial institutions providing them with financing against the risk of non-payment by foreign buyers. Using this instrument, the exporter can insure the entire portfolio of export contracts with deferred payment

Insurance Procedure
  • The exporter concludes a deferred payment export contract with the importer
  • The exporter submits an application for insurance to Export credit agency of Kazakhstan
  • Export credit agency of Kazakhstan examines the application and concludes an insurance contract with the exporter
  • The exporter pays the minimum insurance premium and delivers the goods, works and services under the export contract
  • The exporter submits to Export credit agency of Kazakhstan a declaration with information on the actual trade turnover
  • In the event of a difference between the previously paid minimum insurance premium and the premium calculated on the declaration, the exporter pays the additional insurance premium
  • If the importer fails to pay for the goods received, Export credit agency of Kazakhstan compensates the exporter for the loss
What is the amount of insurance coverage?
  • Insurance coverage for commercial and political risks is up to 80% of the amount of damages