Medium- and Long-term Export Credit Insurance covers against default of payment caused by commercial and political losses relating to overseas trade transactions i.e. export of goods and services including credits and loans to overseas buyers/borrowers.
1. For Supplier of Goods and Services
This policy is provided to suppliers who export goods or services. The policy covers losses including direct costs and expenses incurred, during Production Period and the invoiced value of the delivered portion in Credit Period.
2. For Financial Institutions Providing Overseas Credit
This policy is provided to financial institutions providing credits to overseas buyers or borrowers for the purchase of Thai goods or services. The policy covers losses during drawdown period and repayment period.
All export transaction such as sales of capital goods,
construction contracts, service contracts, or sale of consumer durable goods, etc.
- For export of services transaction, the term of payment or contract period could be up to 5 years
- For Export of goods transaction, the term of payment or contract period should be more than 6 months to 5 years
Export or loan contract denominated in any currency can be covered. The policy regardless of which currency of the contract being covered will be specified in one of these three currencies; Baht, US Dollar, or Euro.
Exporters/Financial Institutions who are interested in the service could submit the Preliminary Information Form to EXIM Thailand for preliminary assessment without any expense. In order to obtain a binding insurance proposal, Definitive Application including relevant documents along with application shall be submitted and the applicant must pay a processing fee. The proposal shall be valid for 6 months.