Unistrat Coface covers export and domestic projects :
- Industrial goods and Heavy plants
- Infrastructure
- Services
- Building and engineering
- Commodities and energy
Unistrat Coface guarantees 3 types of risk on public or private buyers :
Pre-shipment risk : It covers losses which result from a breach of contract prior to shipment.
Non-payment / Non-transfer risk : It covers losses which result from the total or partial non-payment or non-transfer.
Unfair calling of bonds risk : It covers bid bonds, advance payment bonds, performance bonds and retention bonds.
INSURED PERCENTAGE => 90% (average)
WAITING PERIOD => 6 to 12 months
Examples :
1) An industrial company that manufactures bottling production lines concluded a contract with a beverage manufacturer for a production line. When the equipment was ready for shipment, an embargo was declared against the debtor’s country.
The insured can obtain compensation from Unistrat Coface based on a loss account for costs incurred.
2) A company concluded a contract to provide spare parts with payment due 30 days from delivery. The company never received payment due to the bankruptcy of the customer.
With a non-payment guarantee, the insured can obtain compensation from Unistrat Coface for up to 90% of the loss incurred.
3) Under a construction contract for a pipeline, a company posts an advance payment bond. After proper execution of the contract, the beneficiary calls the bond unfairly.
Under an unfair calling of bond, the insured can obtain compensation from Unistrat Coface.
