Customer Service:95387
Short Term Project Insurance

  1. Breach of Contract Insurance

  This product is a short-term export credit insurance product that protects a Chinese exporter from the loss of costs incurred under a commercial contract resulting from political risks and commercial risks. It is applicable to electrical and mechanical products, equipment packages, project contracting and shipbuilding.

Covered risks Commercial risks The buyer goes bankrupt or insolvent;
The buyer terminates the contract unilaterally;
The buyer maliciously change the contract or refuses to pay for purchased goods;
Political risks The buyer’s country or region promulgates a law or takes administrative measures to prohibit or restrict the outward remittance of export proceeds;
The buyer’s country or  region promulgates a law or takes administrative measures to prohibit the import of goods or revoke the import license;
The buyer’s country or region issues a moratorium, which affects the payment for goods;
The buyer’s country or region is embargoed or sanctioned;
A war or any other force majeure event occurs in the buyer’s country or region and prevents the buyer from performing the contract.

Covered

percentage

The insured percentage is chosen by the insured at its discretion, subject to a maximum of 90%

 

  2. Specific Contract Insurance

   This product protects a Chinese exporter from the loss of A/R under a commercial export contract resulting from political risks and commercial risks. Exported products under the commercial contract usually include electrical and mechanical products, equipment packages, high-tech products and other capital or quasi-capital goods, bulk trade commodities and contracted projects and related services.