Through the products of the insurance division, the risks of non-payment of receivables from the side of foreign buyers that are linked with the export credits are prevented. Amendment of the Act on EXIMBANKA SR also enables insurance of domestic receivables.
Insurance of a receivable is a very advantageous way of securing them also for other reasons:
Loan insurance is very much approved also when penetrating new markets. EXIMBANKA SR is a partner of the French Crédit Alliance and together with a network of other agencies around the world it is capable of securing:
A component of political risks is also transfer risk, when a foreign buyer gives an order for payment at a bank and deposits the money in local currency but with respect to the insufficient convertibility of the currency or restrictive measures of the state (an embargo, moratorium) it is not possible to transfer the convertible currency to the account of the supplier.
Another category is the revoking of an export or production license or other permits necessary to carry out the signed contract. These are such cases when a foreign contract and the export associated with it was from the technical and business side in line with all required matters, customs and regulations of international trade and interferance from the state in the area of license came in the course of fulfilling the contract.
A case when an export contract is signed with a public or state buyer is considered a so-called pure political risk.
Sometimes damage may occur even in periods before fulfilment of the contract, so-called production risk. In such cases, particularly with mid-term contracts related to investment units and goods for special order, damage may be caused by withdrawal from the contract by a public buyer, non-observance of contractual conditions by a private buyer, and this non-observance was caused by administrative measures of the state, the start of a war conflict, a revolution or rebellion in the buyer’s state.