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Export Credit Insurance Policy
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​​A credit insurance policy that covers the Saudi exporter against the risks of non-payment of the international buyer resulting from commercial or political risks.

Product Description
Properties
Beneficiary

Saudi Exporter.

Uses

Insuring Saudi exports sales of goods and/ or services to International Buyers.

Type

Revolving policy (single-buyer or multi-buyer)

Utilization

Saudi Exporters report shipments and pay premium to obtain coverage.

Coverage

up to 95% for multi-buyer policy, and 90% for single-buyer policy.

Facility Duration

Short-term (up to 1 year), long-term (up to 5 year).

Repayment

Insurance premium

Security

-

Cost

Benefits
  • ​Enable exporter to expand their customer base in existing markets.
  • Enable exporters to penetrate new markets.
  • Enhance trust between exporters and buyers.
  • Increase competitiveness with international buyers by extending longer payment terms, and Reduces transaction cost by avoiding the usage of L/Cs.
  • Provide policyholders with up-to date, real time information on their buyers portfolio. 

Eligibility

  • Saudi Exporters

Prerequisite
1 - Application form
2 - Know your customer form (provided if the request is accepted)


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