Insurance of exporters' losses related to performance of works/services | Export insurance company «KazakhExport»

Insurance of exporters' losses related to performance of works/services

Insurance of losses of exporters related to the performance of works/provision of services is a tool that allows a Kazakhstani enterprise (Exporter) to receive protection under export contracts providing for the performance of works/provision of services on a deferred payment basis against the risk of non-payment by a foreign counterparty (Importer) in case of unreasonable and unmotivated evasion / refusal to accept the work performed / services rendered by the Importer.

Insurance procedure
  • The Exporter concludes an export contract with the Importer for the performance of works/provision of services.
  • Exporter applies for insurance to KazakhExport.
  • KazakhExport considers the application and concludes an insurance contract with the Exporter.
  • The Exporter pays the insurance premium and provides services/works according to the export contract.
  • If the Importer refuses to accept the work performed or services rendered for unreasonable and unmotivated reasons, KazakhExport shall compensate the Exporter's losses.