Insurance coverage for exporters losses stemming from the fulfillment of export contracts.

The national exporter’s losses related to the inability of implementing an export contract in full or in part, as well as losses experienced by exporter in case of the overseas buyer’s failure to execute the liabilities on payment for goods (works, services), delivered on the terms of delayed payment within the contract period.

Hence, in case of the overseas counterparty’s refusal to fulfil the export contract, Eximgarant of Belarus indemnifies and covers costs incurred by the enterprise to execute the obligations under an export contract.

This insurance product ensures a comprehensive approach for the protection of the enterprise’s foreign trade activity.

Procedure of interaction:

2. Conclusion of an insurance policy;

3.  Overseas buyer’s refusal to fulfil the obligations of an export contract;

4.  Insurance indemnity and transfer of the right of claim to Eximgarant of Belarus;

5.  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;

·   Cost calculation;

·    Foreign buyer’s title and financial documents.

Procedure for the Insured to follow upon the occurrence of an accident that may constitute an insurable event under the terms of 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 damage.

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