FINANCIAL INSURANCE PRODUCTS

Insurances against a financial risk

• The optimal conditions for the development of your business
• Reduced risk of financial loss
• Adequate management of your portfolio
• Balkan broker will cooperate with all the documentation during the whole process

1.Insurance against commercial risk/ marketable and non-marketable/

Object:
Payments under the contracts for sale of goods or provision of services with foreign buyer
Covered risks:
The risk of non-payment for the export of goods and services realized by the Insured, connected to the foreign buyer (insolvency and default).

2.Insurance against Domestic risk

Object:
Payments under the contracts for sale of goods or provision of services on the territory of Republic of Bulgaria
Covered risks:
Commercial risks (insolvency and default), connected to the Bulgarian buyer

3.Insurance against political risk

Object:
Payments under export contracts of goods and services
Covered risks:
Оccurrence of extraordinary circumstances in the debtor’s country or in a third country related to the payments, which prevents the settlement of the obligations regarding production and export of Bulgarian goods and services:
Political events: war, strikes, embargo, coup, etc.;
Moratorium on the payments;
Confiscation and nationalization;
Changes in the regime (scheme) of payment;
Acceptance or changes in the legislation

4. Insurance of investments

Object:
Investments in a foreign country, capital, property, immaterial rights
Covered risks:
Inability for conversion of the local currency to convertible;
Inability for conversion of payments in Bulgaria;
Expropriation, nationalization and confiscation;
Political acts of violence mean losses of assets or losses of revenues from the foreign company resulting from war, revolution, rebellion, uprising or civil unrest, terrorism
and sabotage.

5. Insurance of bank credits

Object:
Bank credit for working capital for production of goods or providing services for shipment or a legal entity, licensed or registered under the Credit Institutions Act of Bulgaria.
Covered risks:
Default of the Debtor
Insolvency or Liquidation of the Debtor

6.Insurance of bank guarantee

Object:
Bank guarantee, issued under conditions, stipulated to the Bulgarian supplier or producer
Covered risks:
Default of the Debtor
Insolvency or Liquidation of the Debtor

7. Insurance of letter of credit

Object:
Letter of Credit, issued for the benefit of Bulgarian supplier
Covered risks:
The failure and/or refusal of the Issuing Bank, where the Issuing Bank has no right or cause under the terms and conditions of the Letter of Credit to honor its obligations of payment to the Insured

For further information, please contact us on:
E-mail: ts.spasova@zbkbalkan.com
Telephone: +359 2 917 98 73