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Cooperation Advantages

Cooperation Advantages

For enterprises
  • The insurance premium is included in the prime cost of goods (works, services).
  • Increased sales due to the commodity credit granted.
  • Competitiveness with other sellers due to more favourable terms of sale.
  • Access to new outlets — a wider geographical span of exports.
  • Sales against delayed payment help to refrain from dumping and discounts.
  • The opportunity to employ credit resources on preferential terms for foreign trade and investment activities: in euros and in US dollars at commercial interest reference rates CIRR.
  • Lower prime cost of products due to credit resources granted at a moderate rate, strengthening the company’s competitiveness in new markets.
  • A wider range of facilities for the exporter to set up joint ventures, assembly lines, subjects of a commodity producing network.
  • Investment expansion helps to expand production, to develop new technologies and to attract cheaper production factors (land, labour).
  • A profound examination by Eximgarant of Belarus of the foreign contractor’s financial standing and business record.
  • The evaluation of the capacity and infrastructure of a new outlet for export products.
  • The analysis of the political situation in the overseas buyer’s country, the revealing of political factors detrimental to foreign trade cooperation and to the execution of a particular deal.
  • Legal advice on the terms of the export contract, the elaboration of the most adequate strategies and mechanisms to effect a particular deal.
  • The elaboration of individual mechanisms of financing foreign trade and investment activities.
  • The right to an insurance compensation in the currency of the contract eliminates the necessity to withdraw funds from circulation, thus ensuring the ongoing production process and asset reproduction.
  • Payment of the insurance compensation eliminates the necessity to go through a long process of collecting debts abroad.
  • The right to an insurance compensation gives the enterprise an opportunity to complete the foreign trade deal in due time without having to pay any penalties.
  • The absence of necessity to get an authorization of the National Bank to extend the term of the completion of the foreign trade deal for the period preceding the actual payment of the insurance compensation.
  • The absence of outstanding accounts receivable.
For banks
  • A wider range of services provided and of the territories covered.
  • Favourable terms of granting credit to clients, improving the bank’s image.
  • Compensation of losses from the State budget when export credit is granted.
  • The insurance contract is equal to an insurance policy issued by an insurance company — a legal entity from group A.
  • In case credit is granted to an overseas contractor, credit currency resources remain within the territory of the Republic of Belarus.
  • Supervision of the employment of special-purpose export credit granted to an overseas buyer of domestic products.
For the country
  • The implementation of the progressive global experience in foreign trade activities through particular financial mechanisms provided by the legislation of the Republic.
  • Export promotion in conformity with the principles of the International Union of Credit and Investment Insurers (the Berne Union).
  • The development and strengthening of the country’s export potential.
  • Positive impact on the foreign trade balance.
  • Consolidation of Eximgarant of Belarus’ authority within the International Union of Credit and Investment Insurers has a positive effect on the attitude of the international community to the country. The inclusion of the insurance premium in prime cost of products paid by the overseas buyer draws additional cash receipts into the Republic.
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