An insurance product designed to cover the factor against the risk of non-payment by foreign counterparties.

What is insured?

A loan issued by a bank to a Russian exporter to allow them to ship products under an export contract

Who is the insured/loss payee?

The insured party is the Russian bank financing the Russian exporter. The bank is also a member of the credit and insurance support programme for SMEs

What is the term of an insurance contract?

The insurance term corresponds to the financing term

Degree of insurance coverage

The insured portion for commercial risks related to non-fulfilment of the borrower’s obligations under a loan agreement is 70% of the credit amount

  • Accelerates the receipt of cash from receivables under export contracts
  • The review procedure for export projects consists of 7 stages and takes between 12 and 29 days.

Documentation required to review a project:

  • An export contract (or draft version)
  • A draft loan agreement
  • Information on the Russian bank, including financial records (balance, profit and loss account), ownership structure, information on the group of companies that the counterparty is a member of, and the group’s consolidated management accounts (if applicable)