An insurance product designed to protect Russian or foreign banks from the non-repayment risk of the credit granted to a foreign borrower (the buyer or the buyer's bank) for payment under a contract for goods (services or works) exported from Russia.
What is an Insurance Object?
Credit granted by a bank to a foreign borrower (the buyer or the buyer’s bank) for payment under a contract for goods (services or works) exported from Russia, and interest for using the credit.
Who is the Insurer?
The insurer is a Russian or foreign bank financing a foreign borrower.
What is the Term of the Insurance Contract?
The insurance term is equal to the credit agreement validity period.
Both entrepreneurial and political default risks incurred by a foreign borrower are subject to insurance.