Product Information - Export Post-shipment Cover / Standard Export Cover BENEFITS Protects against failure to receive payment of an insured debt1 from an insured buyer2 in an insured country. Suitable for exporters who have not been paid up-front for goods shipped. RISKS COVERED Product default, which is the failure of your buyer to effect payment for an undisputed debt within six months after due date. Insolvency, which means any of the following events granted against your insured buyer2. 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, refusal or failure of your buyer to accept delivery of goods or services without any lawful reason. Importation, a law in your buyer's country which restricts / controls / prevents the importation of goods into that country Transfer, a law in your buyer's country restricting the transfer of funds, beyond your control, back to you. Conflict, any occurrence of war, hostilities, civil war, rebellion, insurrection, revolution or other disturbances in an insured country. FLEXIBLE POLICY STRUCTURES TO SUIT YOUR NEEDS All markets. You offer all your exports to buyers in all your markets for cover. Selected Markets. You offer all your export buyers in selected countries for cover. Names of selected buyers. You may wish to cover specific number of buyers. You must remember the greater your selection, the greater the impact will be on the premium charged. Insured Percentage. The percentage of the insured debt that will be paid by Credit Guarantee in the event of a loss. Premiums. Premiums are based on turnover, terms of payment and country of destination. Premiums are paid monthly based on a rate schedule, applicable per class of country, or monthly at a fixed value. Annual premiums are also available. Fees payable. A credit limit fee is payable in respect of each credit limit annexure in force at the end of each month. Rapid response fee. Depending on the urgency with which you request your credit limit, a sliding -scale fee will be payable. Non-urgent requests attract a minimum charge. These rates can be reduced where credit limit applications are requested through CregaLink (which is a direct link to Credit Guarantee's system). Policy and certain buyer information is also available in CregaLink. GENERAL EXLCUSIONS FROM COVER Disputes Changes in exchange rates Any actual / alleged breach of contract by you Any shipments made against payment under a letter of credit, confirmed before shipment, by a bank in SA Physical damage to goods The gross invoice value which is owing to you A buyer on whom a credit limit has been granted
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