Exporter’s credit insurance


Successful conclusion of foreign trade contracts often involves the use of flexible forms and methods of payment, such as the deferred payment or in other words, the provision of a commodity credit to the Foreign counterparty (Importer) by the Exporter. Under the scheme “Exporter’s credit insurance”, KazExportGarant provides Kazakh Exporter the protection against the risk of loss associated with default on financial obligations by the Foreign counterparty (Importer) under the export contract for sales of goods, works and services on the deferred payment terms.

Stepwise description of the procedure for the scheme “Exporter’s credit insurance”

  • The Exporter plans to conclude or has concluded an export contract with the Foreign counterparty on the deferred payment terms.
  • The Exporter submits an application for insurance to KazExportGarant and after approval and coordination of insurance terms, concludes an insurance contract with KazExportGarant.
  • The Exporter delivers the goods in accordance with obligations specified in the export contract and pays an insurance premium to KazExportGarant.
  • Upon occurrence of an insured accident, i.e. if the Foreign counterparty fails to pay for the goods received, KazExportGarant makes insurance payment in favour of the Exporter. In this case, the rights to a claim against the debtor (Importer) are transferred to KazExportGarant.

Who should use the supplier’s credit insurance? - the Exporter’s credit insurance is available to all Kazakhstani Exporters of non-primary goods, works and services.

What risks are covered?

Commercial risks:

  • bankruptcy of the Foreign counterparty;
  • default on financial obligations under the contract by the Foreign counterparty.

Political risks:

  • action of the governmental authority of the country of transit, or the country of destination of delivery of the Kazakhstani goods, or the country of the Foreign counterparty on expropriation, confiscation, restriction of ownership rights to the goods, the result of the work performed owned by the Exporter;
  • unilateral (unreasonable) termination or non-performance of a contract by the governmental authority of a foreign state, which is a Foreign counterparty;
  • war, civil commotion, mass riots outside the Republic of Kazakhstan, preventing the execution of financial obligations under the contract;
  • contingency action of the governmental authority in the country of the Foreign counterparty restricting or prohibiting the conversion into a freely convertible currency and/or transfer of the payment.

Share of the insurance coverage

  • Political risks - up to 80% of the amount of loss incurred.
  • Commercial risks - up to 80% of the amount of loss incurred


Application «Kazakhstan Land of the Great Steppe»