Etihad Credit Insurance (ECI) is a specialized state institution, that supports the export and re-export of UAE goods, works, services, and the foreign investments of companies in the UAE, through the provision of a range of export credit, financing and investment insurance products.
Trade Credit Insurance :
Export Credit Insurance which provides to UAE exporters against commercial and non-commercial risks. These include buyer’s insolvency/bankruptcy, buyer’s failure to pay, buyer refusing delivery of goods, foreign exchange transfer delay, import bans or cancellation of import license, payment moratorium, war, civil disorder, natural disasters.
Short / medium / long-term Credit Risk
Single Buyer Risk, Single Risk
Supply Risk
Surety Bonds:
Bid Bonds (Temporary and Definitive) guarantee the commitment of the contractor during a foreign tender to sign the contract, as well as guarantees that the contractor awarding a contract complies with all of the obligations undertaken on signing the contract. Last guarantees compliance with contractual obligations, both “to do” (direct execution of works) and “to give”
Guarantees the repayment of advance payments made by the purchaser for the execution of the contract abroad in the event of non – fulfilment by the UAE company
Guarantees for customs duties : UAE businesses substitute the payment of duties related to customs operations with the establishment of surety bonds and through surety policies. The guarantees apply to temporary imports, customs deposits and periodic and/or deferred payments in the event of continuous customs operations
Guarantees for Employers in lieu of the bank guarantees that have to be given to the Ministry of Labour and Social Affairs for every new employee they hire.
Export Financing:
Post-shipment financing of exports through bills discounting with the commercial banks at concessional interest rates
Pre-shipment financing facilities for exporters through commercial banks against guarantees issued by ECI for working capital requirements, so as to meet and enhance the opportunity for their export sales
Premium value for insurance will be depending on the transaction and claims. There will be fixed period for insurance validity as per project.