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Deposit Insurance
Deposit insurance is one way to insure your advance payments.
As a company, you often have to pay your domestic and foreign suppliers in advance for capital goods.
In the event that your supplier is unable to meet 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, licenses or approvals
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Government declaration of suspension of payment of international debts
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