Insurance of losses of financial institutions
The tool allows a financial institution to have insurance coverage against the risk of non-payment by a Kazakhstan enterprise (exporter) for its obligations under a financial services agreement (opening a letter of credit, issuing a bank guarantee, urgent currency transaction, granting a credit (loan, financing)
Insurance Procedure
- KazakhExport provides insurance coverage for Financial institution against the risk of default on the financial service provided
- The Financial institution provides the Exporter with a financial service (opening a letter of credit, issuing a Bank guarantee, urgent currency transaction, granting a credit (loan, financing), the purpose of which includes the development of exports
- In case of default of the borrower (exporter), KazakhExport compensates the losses of the Financial institution
