| Exporters are constantly exposed to risks of non-payment from customers to whom they have sold and exported volumes of goods. This can be a default due to reasons such as bankruptcy, insolvency, closure or even new government regulations. However, such non-payment can cause stagnancy in the exporter’s business leading to losses. OIC offers Credit Insurance to cover losses caused by such defaults in payment. The policy also offers additional benefits like alerting the insured about the credit-worthiness of their customers, and so on. - The covers offered include:
- Protracted default by the debtor - in case the debtor fails to pay the due amount even if he is not declared insolvent by the court, OIC will pay the amount (subject to the wait period in the policy)
- Political risks - foreign exchange restrictions, nationalization, confiscation of assets by government (of the debtor)
- Why you need OIC’s Credit Insurance:
- Outstanding debts represent a chief asset in the balance sheet – protect yourself.
- Insuring the account receivables will secure your profitability without extra credit control infrastructure.
- Ensures peace of mind, enabling you to concentrate your resources on entering/winning new markets.
- Even if there is a political risk (of the government of the buyer's country acting illegally), the policy will pay for it.
- Before deciding to advance credit to a prospective customer, talk to OIC. The company will assess the prospect and give you a report on his credit-worthiness.
- Often, even before your existing customers experience credit difficulties, OIC is likely to come to know of it through its global network; so the company can inform you of the potential danger.
- Within one month of credit default, OIC will pay the amount of claim to the Insured (subject to policy conditions).
The premium on this policy is dependable on the exposure and a careful study can be made upon contacting us. For detailed information, please call toll free 800 4746 or email call_center@tameen.ae | 
