Insurance

Insurance policy of buyer credit

The policy covers the Romanian exports financed by lending the external buyer for the payment of imported goods and services. The funding banks of the exports originating in Romania insure themselves in this way against the credit default risk.

Exim Banca Romaneasca assures the recovery of up to 95% of the buyer credit value.

  • Characteristics
  • Beneficiaries
  • Advantages
  • Case study

Characteristics

  • insurance period: equal or longer than 2 years,
  • currency: RON or foreign currency, depending on that of the credit convention.

Covered risks

  • 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.

Exim Banca Romaneasca policy regarding combating bribery acts in officially supported export credits

Exim Banca Romaneasca policy regarding environmental and social impact in officially supported export credits

Beneficiaries

  • commercial banks granting buyer credits.

Advantages

  • assures the protection of the financing bank against the credit repayment default risk and of its interest due to financial and political reasons,
  • facilitate the access of Romanian exporters on high risk foreign markets,
  • the policy can cover only the principal of the buyer credit or the principal plus its related interest.

 

  • How can you access our insurance products. Simple….by taking the following steps:

    1. Read the general insurance conditions.
    2. To simulate a calculation of the premium quota applicable to the project, access the calculator.
    3. Download and fill in the documents from the section “Required documents”. Attention: It is mandatory to fill in both the insurance application, and the statements/annexes found on the page of the desired insurance product.
    4. Sign, scan and send the documents to the e-mail address asigurari@eximbank.ro. Check up if all the documents are attached as downloaded from the page of the desired insurance product.
    5. An Exim Banca Romaneasca consultant will contact you to conclude the transaction.

Case study