Insurance of exporters' losses related to performance of works/services
Insurance of losses of exporters related to the performance of work/rendering of services is a tool that allows a Kazakhstan enterprise (Exporter) to obtain protection under export contracts that provide for the performance of work/rendering of services on deferred payment terms, against the risk of non-payment by a foreign counterparty (Importer) in case of unjustified and unmotivated evasion/refusal to accept the work performed/services rendered by the Importer.
- The Exporter enters into an export contract with the Importer to perform the work/render the services.
- The Exporter applies to KazakhExport for insurance.
- KazakhExport reviews the application and enters into an Insurance Contract with the Exporter.
- The exporter pays the insurance premium and renders services/performs work in accordance with the export contract.
- If the Importer refuses to accept the work performed or services rendered for unjustified and unmotivated reasons, KazakhExport compensates the Exporter's losses.