Export Business Builder BENEFITS Protects you against failure to receive payment of an insured debt 1 from an insured buyer 2 in an insured country. This type of policy caters for companies that do not have an extremely large export turnover. RISKS COVERED Protracted default: which is the failure of your buyer to effect payment in local currency for an undisputed insured debt within six months after due date. Insolvency: which means any of the following events granted against your insured buyer: • A provisional compulsory sequestration order. • Provisional acceptance by the court of a voluntary surrender of estate. • A provisional winding-up order. • Acceptance of a statutory compromise or scheme of arrangement binding on all creditors. • A provisional judicial management order. Importation: a law in your buyer's country which restricts/controls/prevents the importation of goods into that country. Transfer: a law in your buyer's country restricting the transfer of funds, beyond your control, back to you. Conflict: any occurrence of war, hostilities, civil war, rebellion, insurrection, revolution or other disturbances in an insured country. BASIC POLICY STRUCTURE Premium: Premium is a fixed amount that is payable monthly via debit order. Insured percentage: The percentage of the insured debt that will be paid by Credit Guarantee in the event of a loss. GENERAL EXCLUSIONS FROM COVER • Changes in exchange rates. • Physical damage to the goods. • Any actual/alleged breach of contract by you. • Disputes. 1 The gross invoice value, excluding any form of tax, which is owing to you. 2 A buyer on whom a credit limit has been granted. CELEBRATING yrs Credit Guarantee Insurance Corporation of Africa Limited Reg No. 1956/000368/06 | Authorised Financial Services Provider No. 17691 | VAT No. 4790116877 Gauteng (Head Office): Tel +27 11 889 7000 | KwaZulu-Natal: Tel +27 31 265 0300 Western Cape: Tel: +27 21 421 7830 | Eastern Cape: Tel +27 41 363 4024 ENABLING GROWTH WITHOUT RISK Email: #[email protected] | www.creditguarantee.co.za

Export Business Builder - Credit Guarantee · Export Business Builder BENEFITS Protects you against failure to receive payment of an insured debt 1 from an insured buyer 2 in an insured

Download PDF Report

Upload
lydung
View
213
Download
0

Embed Size (px)

Citation preview

Export Business Builder

BENEFITS

Protects you against failure to receive payment of an insured debt1 from an insured buyer2 in an insured country. This type of policy caters for companies that do not have an extremely large export turnover.

RISKS COVERED

Protracted default: which is the failure of your buyer to effect payment in local currency for an undisputed insured debt within six months after due date.

Insolvency: which means any of the following events granted against your insured buyer:• A provisional compulsory sequestration order.• Provisional acceptance by the court of a voluntary surrender of estate.• A provisional winding-up order.• Acceptance of a statutory compromise or scheme of arrangement binding on all creditors.• A provisional judicial management order.

Importation: a law in your buyer's country which restricts/controls/prevents the importation of goods into that country.

Transfer: a law in your buyer's country restricting the transfer of funds, beyond your control, back to you.

Conflict: any occurrence of war, hostilities, civil war, rebellion, insurrection, revolution or other disturbances in an insured country.

BASIC POLICY STRUCTURE

Premium: Premium is a fixed amount that is payable monthly via debit order.Insured percentage: The percentage of the insured debt that will be paid by Credit Guarantee in the event of a loss.

GENERAL EXCLUSIONS FROM COVER

• Changes in exchange rates.• Physical damage to the goods.• Any actual/alleged breach of contract by you.• Disputes.

1 The gross invoice value, excluding any form of tax, which is owing to you.

2 A buyer on whom a credit limit has been granted.

CELEBRATING

yrs

Credit Guarantee Insurance Corporation of Africa Limited Reg No. 1956/000368/06 | Authorised Financial Services Provider No. 17691 | VAT No. 4790116877

Gauteng (Head Office): Tel +27 11 889 7000 | KwaZulu-Natal: Tel +27 31 265 0300

Western Cape: Tel: +27 21 421 7830 | Eastern Cape: Tel +27 41 363 4024

ENABLING GROWTH WITHOUT RISK

Email: #[email protected] | www.creditguarantee.co.za