Insurance policy of medium and long-term export credits
Exim Banca Romaneasca covers up to 85% of the losses resulted from export contracts concluded with foreign partners on medium and long term.
Characteristics
- insurance period: equal or longer than 2 years;
- currency: RON or foreign currency, according to the export contract.
Covered risks for export credits
- commercial risks during the pre and/or post-delivery period due to debtor’s insolvency or to its extended payment default, or to unilateral denunciation of the credit convention by the debtor,
- political risks (difficulties and delays in money transfer from the importer’s country due to a general moratory related to external debt, actions of foreign governments preventing the credit convention performance, other risks related to public debtors),
- risks of force majeure (natural catastrophes, floods, earthquakes, volcanic eruptions, wars, etc.) preventing the credit convention performance).
Beneficiaries
- Romanian exporters which do not benefit of mitigated payment terms.
Advantages
- can be used as collateral to finance the complex export contracts,
- the insurance of export credits allows the access of Romanian exporters to high risk markets.