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Domestic Credit Insurance
Provides coverage for credit sales within the national market, to legal or natural entities with commercial activities. The Insured’s domestic credit portfolio is divided into two types of clients: nominated and non nominated, based on the amount of the credit limit awarded to each one, establishing a division that will depend on the spread of the portfolio and the volume of sales established with the clients.
Minor or non nominated clients are those whose credit limit is lower than the established segmentation for the client in consideration of their sales volume. The evaluation is for account of the Insured, based on guidelines defined by the Company.
Nominated clients are those whose credit limit is in excess of the separation established under the policy, which will be approved, limited or rejected after an exhausted evaluation made by an InSur expert.
Export Credit Insurance
Provides coverage for credit sales carried out in the international market, that is, covers the Commercial Risk of exports.
The Export Credit Insurance contributes to the increase
of the exporters’ sales and incursion into new markets, as it allows them to export under a minimized
and defined risk, supported by an expert credit risk evaluation. It furthermore
provides an additional benefit consisting of periodic follow up of clients
and of collection of possible non payments, which is more relevant abroad
considering legal, cultural and language differences.
On the other hand, the Export Credit Insurance contributes
to the development of competitive advantages as it allows exportations
to new and existing clients under previously evaluated credit conditions,
without the necessity of payment warranties, such as Letters of Credit,
without time consuming dealings and resources with respect to clients
that do not qualify financially for credit allowance.
Furthermore, foreign sales encounter a non payment risk due to political decisions or situations, in other words losses caused by non payment of credits not attributable to insolvency of buyers. The Insured can therefore purchase a special additional clause covering Political Risks, including the following instances:
- War, civil war, revolution, or occupation of territory by a foreign power.
- Expropriation or confiscation, requisition of merchandise, or delay of transference of foreign currency due to lack of funds or government instructions.
- Cancellation of export or import permits.
- Unilateral cancellation of contracts by the importers government.
It is also possible to provide coverage for credit sales by companies established or domiciled out of Perú or to affiliates of our insured, who wish to cover their exports or sales in the local market.
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