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.
- 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.