Provide protection to banks that take over export bills against defaults from importers
Insurance that provides protection (protection) to banks that take over (negotiate) export bills of customers/debtors/exporters against defaults from foreign buyers (importers) caused by commercial risks and/or political risks. This insurance is provided to guarantee the negotiation of Export Bills for Export Bills on the basis of Usance LC from Issuing Bank, Document Against Acceptance (DA), or Documents Against Acceptance (DP) and Open Account (O/A).
The benefits obtained are as follows:
Risk Covered: Commercial risk (bankrupt importer), importer default/default, importer refusing to accept goods) and political risk (ban on foreign exchange transfers, import quota restrictions, revocation of import business licenses, war or other hostile actions in importer country).
Coverage Fee: Up to 85% of the losses suffered by the Bank on the disbursement of export bills financing facilities to Customers/Debtors/Exporters who have been given a limit of coverage by Asei Insurance.