Financial Facilities

Export Credit Insurance and Investment Insurance

EXIM SURE under L/C payment

Features and Conditions
1. Coverage is valid for Irrevocable L/C payment term. (Insurance policy covers more than 200 countries around the world.)
2. Terms of payment must not exceed 180 days after shipment date.
3. Coverage applies to all types of goods.
4. Protection starts immediately after first premium payment.
Scope of Coverage
Commercial Risks
Issuing bank insolvency/ bankruptcy
Issuing bank refusal to pay despite clean documentation.
Political Risks
Remittance of hard currency restricted or prohibited by authorities
New regulation prohibiting importation
Occurrence of war, riot, revolution or coup d’etat that obstructs payment
Rate of Indemnity
Commercial Risks : 85% of loss realized
Political Risks : 90% of loss realized
Fees
Credit Information Fee
3,000 baht/ issuing bank/ year (Minimum premium per transaction is 1,000 baht.)
Time Frame for Claim Payment
Commercial risks
Issuing bank insolvency/ bankruptcy: immediately upon receipt of evidence
Issuing bank refusal to pay : within 120 days from the date of submitting the complete application for claim
Political risks
within 120 days from the date of submitting the complete application for claim
Service
1. Exporter applies for the service at EXIM Thailand and pays buyer bank’s credit information fee.
2. EXIM Thailand approves Export Credit Insurance policy and L/C issuing bank’s credit limit.
3. Exporter submits export declaration report and makes premium payment each time an export transaction with L/C to insured
    banks is executed.
4. Exporter monitors buyer’s payment records closely. Notice the Bank immediately, should any irregularities arise.
5. Should payment default occur, exporter can apply for claim payment according to the Bank’s regulations.
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