EXIAR insures Power Machines' exports to Cuba
The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Power Machines have signed an insurance agreement for exports of replacement components for thermal power plant generators to the Republic of Cuba.
Under the terms of the agreement, EXIAR is insuring the exporter against possible losses arising from the buyer failing to fulfil its obligations to pay for shipments.
The Russian Agency for Export Credit and Investment Insurance (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. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 30 billion.
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