Supplier Credit Insurance

To minimize potential losses for exporters and secure cash receipts for the Republic of Belarus, Eximgarant of Belarus provides the insurance of short-, medium-and long-term export contracts against political and/or commercial risks.

The terms of implementing current foreign trade contracts presuppose the 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 their obligations as to the payment for products (works, services) delivered on the terms of deferred payment, in timing as provided by the contract.

The cooperation with Eximgarant of Belarus gives you an opportunity to make use of an insurance product with successful and operative completion of a foreign trade deal, as well as to provide the risk management of a project and advice on the essential details of an export contract both at the stage of conclusion and support. Thanks to paid insurance indemnity, you are not obliged to go through long-term procedure for collecting debts abroad.

The insurance premium is applicable to cost of products paid by the overseas buyer of the Belarusian goods (works, services), thereby drawing cash receipts into our country.

Procedure of interaction:

1. Conclusion of an export contract;

2. Conclusion of an insurance policy;

3. Delivery of goods in accordance with the terms of an export contract;

4. Non-payment by the overseas buyer for the delivered products;

5. Payment of insurance indemnity and transfer of the right of claim to Eximgarant of Belarus;

6. Submitting a request against the overseas buyer.

Documents required for the conclusion of an insurance policy:

Application for Insurance Policy;
The Insured’s title documents;
Export contract;
Overseas buyer’s title and financial documents.

Procedure for the Insured to follow upon the occurrence of an accidentthat may constitute an insured loss under the terms and conditions of the insurance policy:

Following upon the occurrence of an insurable event, the Insured is obliged to submit the following documents (no later than 30 calendar days from the end of the waiting period):

1. Insurance claim statement;

2. Original version of an insurance policy;

3. Documents proving the occurrence of an insurable event and the amount of losses incurred.

For inquiries regarding this line of business, contact the Export Credit Insurance Department or any Eximgarant of Belarus’s branch: Tel\Fax: +375 (17) 371-00-65.