Specific Insurance policy

The policy protects against the risks of default of payment of a private or a public buyer. The insurance covers the credit and/or political risks of a single export transaction.

The insurance policy expires upon the final settlement of all dues. The policyholder obtains up to 90% of the incurred loss once a risk materializes.

Insured Risks

Credit risks

Inability or failure, or refusal of the importer/LC issuing Bank/payment obligor to fulfill the payment

The bankruptcy of the importer/LC issuing Bank/payment obligor

Political risks

Contract Frustration

Currency inconvertibility and transfer restrictions

Measures taken by the authorities of the importing country preventing the insured from obtaining his rights

Default of payment of a public entity

War and civil disturbances

Eligibility

Eligible Transactions

Export of goods and/or services of Arab origin.

Supply of goods and/or services of non-Arab origin to an Arab country from all over the world, provided the supplied goods are developmentally sound for the importing country, such as commodities, equipment, food, pharmaceuticals, etc.

Eligible Exporters

Exporters from Arab countries.

Companies in non-Arab countries exporting goods/services of Arab origin and owned by more than 50% by nationals from member countries

Suppliers of commodities, equipment, pharmaceuticals, etc. from non-Arab countries

Procedure

1

Request for quotation

The exporter submits the request for quotation form to Dhaman

2

Dhaman provides the exporter with an indication detailing the scope of cover and the pricing

Export credit insurance quotation

3

Issuance of the Insurance policy

Acceptance of quotation /contract signature/premium payment

4

Declaration of shipments to the approved buyer within 10 days

Declaration of shipments

5

Compensation Process

Declaration of default of payment/Compensation disbursement/Collection from the defaulting obligor

End

Contact Us

Sara S. Alrifaee
Head of Export Credit Section

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