International factoring insurance | Export insurance company «KazakhExport»

International factoring insurance

It is an insurance protection of a financial institution under factoring transactions against the risk of non-fulfilment by foreign counteragents of its contractual obligations

Insurance procedure
  • The exporter and the financial institution providing factoring services (hereinafter referred to as the “Factor”) shall enter into a factoring agreement
  • KazakhExport and the Factor shall enter into a factoring insurance contract
  • The exporter shall deliver its products to the importer
  • After the Exporter has provided documents on the shipment of its products, the Factor shall pay the Exporter the cost of the delivered products
  • If the Importer fails to perform its obligations to the Factor, KazakhExport shall compensate the Factor for losses