CREDSURE’s credit insurance policies fall into three main categories;
- Export short–term - provides cover for exports where payments terms or risk period do not exceed 180 days.
- Export medium/ long term - for exports on credit terms generally in excess of two years.
- Domestic - a complete range of policies to cover all corporate credit risk situations.
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Domestic Credit Insurance |
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Covers the risk of Insolvency of the buyer or his Protracted Default (failure to pay an undisputed insured debt within a certain time after the due date). There are five basic policy types;
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Contract policies These policies cover the export of capital goods or services on credit terms of more than two years and include the interest element. They insure against failure to receive payment under an insured contract or an insured debt due to either political or commercial causes. Policies are available on either a Buyer Credit or Supplier Credit basis. Where a bank or similar financial institution is financing the contract, then cover is available against non payment of the loan plus interest by the borrower. There are two basic types of cover;
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Political risks Cover includes laws, wars, strikes and political disturbances which obstruct the importation of goods into a foreign country from Zimbabwe. Boycotts, sanctions and terrorist activities which have these effects also fall under this risk category.
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