Most of the times, during a commercial partenship, the two parties can establish a certain term for payment of the goods/services which are object to the contract, meaning the supplier can grant a sort of commerial credit to the buyer. This kind of method obliges the supplier to take charge of not cashing the value of the contract, if the foreign client does not pay as settled in the contract or becomes insolvent.
What are the covered risks?
The non-payment risk in case the buyer does not pay in time the value of the deliveries, as settled in the commercial contract.
The policy covers the commercial risk for pre and post-delivery periods.
What is the insurance percentage?
Usually, our company provides the coverage for 80% of the limit granted to a buyer, meaning the value of the receivables that the supplier has to cash from his client.
What is the insurance period?
The insurance against risk of non-payment on the foreign market can be signed for a maximum period of 360 days.
Types of insurance products for the risk on non-payment on the domestic market (domestic credit)
EximAsig’s products provide financial protection against non payment risk. These include protection against insolvency of the buyer and payment delays.
The insurance policy can be issued:
- for the domestic turnover, that covers the risk of non-payment for all the domestic clients of the Insured;
- for pre-and post-delivery, as an extension of the initial policy, covering the supplier for the risks that he can be exposed to, from the written admitance of the order, until its delivery.
What are the costs of the insurance policy?
The insurance premium is calculated based on the insured amount, the number of clients for which the insurance is requested and also their reliability, the payment method of the insurance premium (fully or instalments), the history of the company, etc.