Policies insure against pre-shipment and/or post-shipment risks on contracts with a government-owned obligor (also referred to as a Public Buyer).
Pre-shipment risks include import or export embargo; buyer's country frustration of the contract; war and political violence; contract repudiation and failure to honor an arbitration award.
Post-shipment risks include nonpayment or failure to honor a letter of credit. Coverage for pre- and post-shipment risks can be combined in one policy.
- Non-cancelable limits during the policy period
- Up to 90% coverage
- Tenor of up to seven years
- Minimum premium of $20,000