More than 50 years
of experience
of experience
29 USD Billion Worth
export and investments
export and investments
A+ Rated by S&P
Covers the failure of an issuing bank to honor its payment obligation on the original due date. The insurance policy covers both credit and political risks. Dhaman compensates the policyholder up to 100% of the L/C value following risk materialization.
Inability or failure, or refusal of the LC issuing Bank to fulfill the payment The bankruptcy of the LC issuing Bank
Currency inconvertibility and transfer restrictions Measures taken by the authorities preventing the issuing bank from effecting payment Default of payment of a governmental bank War and civil disturbances
Export of goods and/or services of Arab origin. Import of goods and/or services of non-Arab origin by an Arab country from all over the world, provided the imported goods are developmentally sound for the importing country, such as commodities, equipment, food, pharmaceuticals, etc.
Exporters from member countries. Companies in non-member 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-member countries
Application form
The exporter applies to ULC insurance
Dhaman provides the exporter with an indication detailing the scope of cover and the pricing
ULC Insurance quotation
Issuance of the Insurance policy
Acceptance of quotation/policy signature/premium payment
Declaration of shipments made under the insured Letter of Credit within 7 days
Declaration of shipments
Compensation Process
Declaration of default of payment/Compensation disbursement/Collection from the defaulting Bank
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