Insurance of exporters' losses related to performance of works/services
The tool provides a Kazakhstan enterprise (exporter) with protection under export contracts providing for the performance of works/services on deferred payment terms against the risk of non-payment by a foreign buyer and in case of unreasonable and unmotivated evasion/rejection of acceptance of performed works/services performed by the exporter
Insurance procedure
- The exporter concludes an export contract with a foreign customer for the execution of works/provision of services
- The exporter submits an insurance application to Export credit agency of Kazakhstan
- Export credit agency of Kazakhstan reviews the application and concludes an insurance contract with the exporter
- The exporter pays the insurance premium and executes works / renders services according to the export contract
- If the foreign customer refuses to accept the work or services performed for unreasonable reasons and/or fails to pay for the work or services performed - Export credit agency of Kazakhstan compensates the exporter's losses
