Supplier Credit Insurance

In order to minimize possible losses for exporters and to secure cash receipts for the Republic of Belarus, Eximgarant of Belarus provides insurance of Short-,Medium-and Long-term Export Contracts against Political and/or Commercial Risks.

The context of implementation of current foreign trade contracts presupposes flexible modes of payment, first of all commodity credit. The conclusion of an insurance contract with Eximgarant of Belarus ensures that any losses incurred by the exporter are covered in case the overseas buyer fails to carry out his obligations as to the payment for products (works, services) shipped against deferred payment, in due course as provided by the contract.

Cooperation with us gives you an opportunity to make use of an unprecedented insurance product ensuring successful and operative completion of a deal and including as well the risk management of the project and advice on the essential details of the export contract both at the stage of its conclusion and at the stage of its management. Besides, being entitled to an insurance compensation, you don’t have to go through a long process of collecting debts abroad.

The insurance premium is applicable to the prime cost of products payable by the overseas client of a Belarusian enterprise, which draws cash receipts into our country.

The procedure of interaction:

1. export contract, previously agreed upon with Eximgarant of Belarus;
2. insurance contract;
3. shipment in accordance with the provisions of the export contract;
4. payment by the overseas buyer for the products shipped.

5. payment of the insurance compensation, transfer of the right of claim to Eximgarant of Belarus;
6. raising claims against the overseas buyer.

The list of documents required for the conclusion of an insurance contract:

• application for the conclusion of an insurance contract;
• the Charter, the registration document of the insurant (in case it is the first insurance contract concluded with this insurant);
• documents evidencing or ensuring payment for production to sell, works, services (export contract, letter of credit, counterparty bank or state warranty and other forms of obligations implementation assurance);
• information on the results of economic activity and financial situation of counterparty, his/her legal status.