Exim Sure under L/C Payment

EXIM SURE is an insurance service suitable for exporters wishing EXIM Thailand to oversee each export shipment and monitor overdue payment closely. Compensation will be paid in case of loss arising from commercial and political risks.
  1. Coverage is valid for Irrevocable L/C payment term. (Insurance policy covers more than 200 countries around the world.)
  2. Terms of payment must not exceed 180 days after shipment date.
  3. Coverage applies to all types of goods.
  4. Protection starts immediately after first premium payment.
Commercial Risks
  • Issuing bank insolvency/ bankruptcy
  • Issuing bank refusal to pay despite clean documentation.
Political Risks
  • Remittance of hard currency restricted or prohibited by authorities
  • New regulation prohibiting importation
  • Occurrence of war, riot, revolution or coup d’etat that obstructs payment
  • Commercial Risks : 85% of loss realized
  • Political Risks : 90% of loss realized

Credit Information Fee

3,000 baht/ issuing bank/ year (Minimum premium per transaction is 1,000 baht.)

Commercial risks
  • Issuing bank insolvency/ bankruptcy: immediately upon receipt of evidence
  • Issuing bank refusal to pay : within 120 days from the date of submitting the complete application for claim
Political risks
  • within 120 days from the date of submitting the complete application for claim
  1. Exporter applies for the service at EXIM Thailand and pays buyer bank’s credit information fee.
  2. EXIM Thailand approves Export Credit Insurance policy and L/C issuing bank’s credit limit.
  3. Exporter submits export declaration report and makes premium payment each time an export transaction with L/C to insured banks is executed.
  4. Exporter monitors buyer’s payment records closely. Notice the Bank immediately, should any irregularities arise.
  5. Should payment default occur, exporter can apply for claim payment according to the Bank’s regulations.

Service

Fee

Contact for service at

EXIM Thailand’s Head Office
Insurance Business Promotion Development Department
Tel. 0 2617 2111 ext. 3935-3942