To protect Qatari exporters against the risk of all approved overseas buyers failing to pay. It is intended for SMEs with Annual Export Turnover less than QAR 5 million.
For any future questions please contact: export.finance@qdb.qa
Coverage
Post-shipment risk cover protects against the risk of all approved overseas buyers, failing to pay for goods received on credit. It is intended to protect multiple transactions, effective for a period of one year, with repayment terms not exceeding 12 months. Under the Simplified Policy, SMEs can choose among 5 Grades, depending on their projected annual export turnover ranging between QAR 200,000 to QAR 5 Mn.
Major obligations of Exporter:
- Remit the requisite premium, in advance, as per the Grade chosen, before the policy issuance
- Request for Credit Limits on each buyer
- Cover starts after approval of credit limit.
- Migrate to higher grade, if required, with payment of differential pro-rata premium in advance
- Notify the non-payment from the buyer within 30 days from the original due date
- Subject to the General Terms & Conditions of Policy
Specifications
- Coverage up to 90% of the face value of the invoices, subject to the approved credit limit amount on Buyers
- Coverage starts once goods are shipped till payment is collected on due date.
- Coverage for political and commercial risks, subject to a valid credit limit decision on each Buyer
Required documents
- Purchase order(s) / confirmation of order(s)
- Contracts
- Invoices
- Evidence of collection actions, including dunning process correspondences, letters of demand and correspondence with any debt collection agencies or lawyers
- A letter from the Insured to the buyer notifying him of legal actions if the amount is not paid
- Details of any steps taken to enforce any collateral
- Confirmation of the insolvency of the buyer (e.g., a court decision)
- Details of any down payments received from the buyer or any other third party
- Certificate of Origin -Delivery Note(s)
- Transport documents (e.g., bill of lading, air waybill, consignment, notes, discharge receipts, mate’s receipts, export and import licences and insurance documents
- The insured’s trading history with the buyer in the past 12 months from the earliest outstanding receivable
