Deposit Insurance
Deposit insurance is a way to insure your advance payments.
As a company, you often have to pay your domestic and foreign suppliers in advance for capital goods.
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In the event that your supplier is unable to fulfill its obligations and return prepayments made prior to shipment of your order, prepayment deposit insurance will cover up to 90% of eligible financial losses.
Type of Risks Covered
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Commercial risks:
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Supplier insolvency.
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Illegal termination of contract by supplier.
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Legal termination of contract by customer.
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Political or international trade risks:
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Currency conversion and transfer problems.
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War and related disruptions.
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Cancellation or expiration of required permits, licences or approvals.
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Government declaration of suspension of payment of international debts.
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