Insurance of the Exporter’s Credit
This tool protects the exporter against the risk of non-fulfilment of financial obligations by foreign contractors when selling goods, works/services for export with a deferred payment term
- The exporter and importer conclude an export contract with a deferred payment option
- The exporter submits insurance application to KazakhExport
- KazakhExport examines the application and concludes an insurance contract with the exporter
- The exporter delivers the goods and pays the insurance premium
- If the importer fails to pay for the goods received, KazakhExport compensates the exporter's los
- Competitive advantage in foreign markets, which consists in the possibility of granting a deferred payment under an export contract;
- Protection from political risks;
- Minimization of losses in case of non-fulfillment of financial obligations by the Importer;
- Increasing the volume and expanding the geography of exports due to favorable conditions for foreign partners.
- Bankruptcy of the Importer;
- Non-performance of financial obligations under the contract by the Importer.
- Action of the state body of the country of transit, or the country of destination for the supply of Kazakhstani goods, works, services, or the country of the Importer to expropriate, confiscate, restrict ownership of goods, works, services, the result of the work performed, owned by the exporter;
- Unforeseen action by the state body of the country of destination for the supply of Kazakhstani goods, works, services, restricting or prohibiting the supply of this product, performance of work, provision of services;
- War, civil unrest, global disorder outside the Republic of Kazakhstan, preventing the fulfillment of obligations under the insured Contract;
- Unforeseen action by a government authority in the Importer's country that restricts or prohibits conversion into a freely convertible currency and/or payment transfer.
- For political risks - up to 80% of the amount of losses incurred.
- For commercial risks - up to 80% of the amount of losses incurred.
- Determined based on country risk assessment and analysis results for the Importer's Bank (Issuing Bank).