Before entering into an export risks insurance contract, the Exporter (Bank) should consult the Conditions of export risks insurance with State support approved by the Ministry of Finance of the Republic of Belarus for the relevant field of insurance.
The Conditions of export risks insurance with State support After consulting the Conditions of insurance, the Client files an application and submits it to Eximgarant of Belarus specialists with the attachment of the appropriate documents pursuant to the Conditions of insurance.
|Within 1 day||The specialist of Export Risks Insurance Unit conducts the documentary analysis of the Client’s set of documents within one working day and, if the set of documents complies with the list of Eximgarant of Belarus and provided that all the documents are properly filed, transfers them to Eximgarant of Belarus financial analysts.|
|Within 2 days||
At the stage of underwriting, financial analysts gather all the information available from open sources on the Client’s contractor and request identification data from competent overseas credit information agencies.
After all the necessary information has been obtained, underwriters, within two working days, assess the financial standing of the overseas contractor, his solvency and business record; apart from that, the specialists evaluate political and economical situation in the country of the contractor, market conditions and the strategic potential of products promotion in the foreign market. Such an analysis allows to assess the degree of risk involved in the insurance project and to evaluate insurance costs (insurance rate).In case a particular foreign trade deal bears excessively high risk, Eximgarant of Belarus specialists carry out the risk management of the project: propose any measures to reduce the risk involved in this project (considering possible provisions to make sure that the obligations arising from the deal are fulfilled, etc.).
|Within 2 days||The insurance project is subject to legal audit: within two working days, Eximgarant of Belarus lawyers examine all the essential details of the deal as to its legitimacy, the juridical capacity of the legal entity, consider the prospects of collecting outstanding debts, find out and analyse the information on possible claims against the contractor of the Client and propose any measures to improve the inadequacies, if any.|
|The term depends on how promptly the proposed conditions of cooperation are accepted by the Client||Then Eximgarant of Belarus specialist and the Client agree upon the conditions of cooperation which should necessarily comply with the Conditions of insurance and the legislation of the Republic of Belarus, resulting in a Draft General Insurance Agreement.|
|Within 4 days||Within 4 working days, the General Agreement is subject to the internal procedures of approval in order to ensure high quality of cooperation.|