Trade Insurance type
Trade Insurance is a type of insurance that provides compensation to the Insured (Seller / Bank / Non-Bank Financial Institution (INKB)) against the possible risk of loss due to partial or total repayment of payments from the Buyer / Importer or Bank opening L / C caused by risk commercial and / or political risk.
Export Bill Insurance (EBI)
Insurance that provides protection (protection) to banks that take over (negotiation) export bills of customers / debtors / exporters against defaults from foreign buyers (Importers) caused by commercial risk and / or political risk. This insurance is provided to guarantee the negotiation of Export Bills for Export Bills on the basis of Usance LC from Issuing Bank, Document Against Acceptance (DA), or Documents Against Acceptance (DP).
The amount of the premium is calculated from the premium rate for banks (already having a cooperation agreement) single flat rate
Commercial risks (prohibition of foreign exchange transfers, restrictions on import quotas, revocation of import business licenses, war or other acts of hostility in importing countries) and political risks (bankrupt importers, bankrupt importers/breach of contract/default, importers refuse to accept goods) .
As much as 85% of the losses suffered by the Bank due to the disbursement of the export draft financing facility to the Customer / Debtor / Exporter that has been given an insurance coverage limit by Asei Insurance