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                                      ST Export Credit Insurance

                                        

                                      Covered risks Commercial risks The buyer goes bankrupt or insolvent;
                                      The buyer defaults on payment for goods;
                                      The buyer refuses to take delivery of goods;
                                      The issuing bank goes bankrupt, closed down or under receivership;  
                                      The issuing bank defaults in spite of consistency of trading documents and consistency between L/C and trading documents or dishonors under usance L/C;
                                      Political risks The country or region of the buyer or issuing bank prohibits or restricts the buyer or issuing bank from paying for goods or making L/C payment to the insured;
                                      An import ban is imposed on the goods purchased by the buyer or the import permit issued to the buyer is revoked;
                                      Any war, civil war or riot makes the buyer unable to perform contract or the  issuing bank unable to discharge its payment obligation under L/C;
                                      A third country through which the payment by the buyer or issuing bank has to be routed issues a moratorium.

                                      Covered

                                      percentage

                                      Up to 90% for the loss resulting from political loss.
                                      Up to 90% for the loss resulting from bankruptcy, insolvency, default or other commercial risks.
                                      Up to  90% for the loss resulting from the buyer's refusal to accept goods。
                                      Up to 100% under the export credit insurance (forfaiting) policy.
                                      Up to 90% under the SME comprehensive cover insurance.

                                        Exporters may choose the following insurance products/solutions

                                       

                                        1. Comprehensive Cover Insurance

                                        This product indemnifies exporters from the direct loss arising from political or commercial risks after exporting goods under contract or L/C.

                                        2. Small and Medium-Size Enterprise Comprehensive Cover Insurance

                                        This product protects small and medium-size enterprise exporters from the risk of foreign exchange collection in relation to exports under L/C or non-L/C mode.

                                        3. Small and Micro Eterprise Easy Credit Insurance

                                        This product is an export proceeds insurance program tailor-made to small and micro businesses. It is characterized by zero threshold, zero restriction, all year around protection available upon a lump-sum payment of premium, simple billing method and timely indemnity payment.

                                        4. Additional Pre-export Insurance

                                        This product is an additional insurance product to the comprehensive cover of short-term export credit insurance. It mainly covers the credit risk before export of goods.

                                        Financing banks may choose the following insurance products

                                        1. Export Credit Insurance (Bank) Policy

                                        This product protects a bank as the insured from the direct loss resulting from commercial risks of the foreign buyer and political risks of its country after the bank buys A/R from the exporter (i.e. bank’s export factoring).

                                       

                                        2. Export Credit Insurance (Forfaiting) Policy

                                        This product protects a bank as the insured from the direct loss resulting from the foreign issuing bank’s default on payment after the insured bank buys on a non-recourse basis the outstanding claims of the exporter accepted or committed under the usance L/C in forfaiting.

                                       

                                         

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