{"id":7687,"date":"2016-07-06T23:44:22","date_gmt":"2016-07-06T21:44:22","guid":{"rendered":"http:\/\/www.eximbank.ro\/en\/?p=2369"},"modified":"2024-03-01T14:47:55","modified_gmt":"2024-03-01T12:47:55","slug":"policy-insurance-for-letters-of-guarantee","status":"publish","type":"post","link":"https:\/\/www.eximbank.ro\/en\/2016\/07\/06\/policy-insurance-for-letters-of-guarantee\/","title":{"rendered":"Insurance policy of export guarantees"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-9294\" src=\"\/wp-content\/uploads\/2016\/07\/vizual8.jpg\" alt=\"\" width=\"776\" height=\"160\" srcset=\"\/wp-content\/uploads\/2016\/07\/vizual8.jpg 776w, \/wp-content\/uploads\/2016\/07\/vizual8-300x62.jpg 300w, \/wp-content\/uploads\/2016\/07\/vizual8-768x158.jpg 768w\" sizes=\"auto, (max-width: 776px) 100vw, 776px\" \/><\/p>\n<p style=\"text-align: justify;\"><strong>Exim Banca Romaneasca covers maximum 95% of the losses the Romanian exporters derived from executing the export guarantees. The cumulated value of all guarantees secured within a contract signed with a debtor is of maximum 85% of the export contract value.<\/strong><\/p>\n<p><strong>Characteristics<\/strong><\/p>\n<ul>\n<li>insurance period: the validity period of the guarantee,<\/li>\n<li>currency: RON or foreign currency, depending on the currency of guarantee.<\/li>\n<\/ul>\n<p><strong>Covered risks<\/strong><\/p>\n<ul>\n<li><b><strong>Commercial risks &#8211; <\/strong><\/b>Risk of unjustified execution of export guarantees by the commercial partner, while the insured party met its obligations within the auction and\/or the contractual obligations;<\/li>\n<li><strong>Political risks<\/strong>:\n<ul>\n<li>Risk of executing export guarantees due to the exporter\u2019s incapacity to meet its contractual obligations due to the occurrence of political risks in the Debtor\u2019s country or in a third country, such as:\n<ol>\n<li>the risk that a public debtor or a country to prevent the achievement of an export transaction;<\/li>\n<li>risks exceeding the will of individual buyers, or which are not the responsibility of individual buyers;<\/li>\n<\/ol>\n<\/li>\n<li>Risk of executing export guarantees by the Debtor, in the conditions when the contract continuation makes no longer an economic sense due to the instating of sanctions or payment moratoria which prevent the Debtor to pay on maturity.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><strong>Beneficiaries<\/strong><\/p>\n<ul>\n<li>Romanian business of private and public law participating in tenders abroad, or which concluded contracts abroad -provisioning the obligation to offer guarantees for the achievement of the contract.<\/li>\n<\/ul>\n<p><strong>Advantages<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">no guarantees required for issuing the policy;<\/li>\n<li style=\"text-align: justify;\">protection of the applicant\u2019s financial resources in case the insured risk occurs; the issuing bank can recover, within the recourse action, the paid amount from the related compensation.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Exim Banca Romaneasca covers maximum 95% of the losses the Romanian exporters derived from executing the export guarantees. The cumulated value of all guarantees secured within a contract signed with a debtor is of maximum 85% of the export contract value. Characteristics insurance period: the validity period of the guarantee, currency: RON or foreign currency, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[88],"tags":[],"class_list":["post-7687","post","type-post","status-publish","format-standard","hentry","category-asigurare-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Insurance policy of export guarantees - Exim - Banca Romaneasca<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.eximbank.ro\/en\/2016\/07\/06\/policy-insurance-for-letters-of-guarantee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insurance policy of export guarantees - Exim - Banca Romaneasca\" \/>\n<meta property=\"og:description\" content=\"Exim Banca Romaneasca covers maximum 95% of the losses the Romanian exporters derived from executing the export guarantees. The cumulated value of all guarantees secured within a contract signed with a debtor is of maximum 85% of the export contract value. 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