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Product Information - Domestic Pre-delivery Cover

BENEFITS
Protects during the period of pre-delivery (manufacture), with cover starting the day the contract is signed, up to the delivery of the goods.

Available normally if you already cover for the post-delivery risk.

RISKS COVERED
Insolvency of your insured buyer - which means any of the following events granted against your insured buyer1:

  • A provisional compulsory sequestration order,
  • Provisional acceptance by the court of a voluntary surrender of estate
  • A provisional winding-up order
  • Acceptance of a statutory compromise or scheme of arrangement binding on all creditors
  • A provisional judicial management order

Repudiation - the refusal of your insured buyer to accept goods/services rendered from an insurable contract2.

Withdrawal of cover - Credit Guarantee's withdrawal of, or reduction in, the credit limit which precludes you from making any further deliveries.

BASIC POLICY STRUCTURE

Insured percentage.
The percentage of the insured contract price which will be paid by Credit Guarantee in the event of loss.

Premium.
Calculated on the total insured contract value and is payable monthly.
GENERAL EXLCUSIONS FROM COVER

  • Government buyers
  • Subsidiary / associated companies
  • Loss due to:
    • Any actual / alleged breach of contract by you
    • Any dispute relating to an insured contract resulting in non-payment, until such time as the dispute is resolved
  1. A buyer to whom credit has been granted
  2. A written contract sale between you and your buyer

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