07.07.2020 EXIAR JSC and Sberbank PJSC launched a new online service for exporters-Sberbank clients as part of a joint project. The new service was established on the Sberbank Business Online platform to allow Russian SME exporters to insure their export deliveries online. The extent of insurance covers business and political risks, faced by exporters when dealing with foreign buyers on a deferred payment basis.
To use the service, an exporter needs to fill out a special insurance application form in Sberbank Business Online personal account, no other documents are required. If a positive decision is made, EXIAR JSC draws up an electronic insurance policy in the form of an offer. The exporter accepts the terms of the offer by paying the insurance premium through Sberbank Business Online personal account. The size of the insurance premium is fixed and amounts to 20,000 rubles.
The service is available to legal entities and individual entrepreneurs registered in the Unified Register of Small and Medium-sized Enterprises. The insurance policy covers 70% of the amount of unfulfilled obligations of a foreign buyer and allows the exporter not only to secure his foreign trade activities but also to fulfill his obligation to repatriate foreign currency earnings.
“The digitalization of all areas of activity, including the digitalization of the largest possible number of public and commercial services that an exporter wants to receive is our main direction for today. Therefore, it is very important for us that Sberbank, as the owner of the largest base of small and medium-sized enterprises, will become a reliable partner for Russian Export Center in expanding measures to support exporters,” Veronika Nikishina, General Director of REC.