EXIAR insures export of electric and gas equipment to Armenia
The Russian Agency for Export Credit and Investment Insurance (EXIAR) and ELINOX (Cheboksary) have concluded a comprehensive export credit insurance contract.
Under the agreement, EXIAR provided a one-year term of insurance for exports of electric and gas equipment for catering industry to the Republic of Armenia. As per the contract, the Agency insured against the risk of non-payment by the buyer.
Preliminary forecasts have put annual trade turnover at over RUB 5 million.
Comprehensive export credit insurance is intended to protect Russian exporters (as well as banks financing them) from the risk of non-payment by the foreign buyer.
Insurance coverage extends to regular shipments of similar goods delivered on deferred-payment terms.
Export Insurance Agency of Russia (EXIAR) was established in 2011 as an open joint-stock company. EXIAR's mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. EXIAR holds a charter capital of RUB 30 billion. Eximbank of Russia is a subsidiary of EXIAR.
External communications EXIAR