Medium and Long-term Export Credit Insurance (Buyer Credit · Bond)
Overview of Scheme and Product CharacteristicsThis scheme is for K-SURE to guarantee the principal and interest payment in relation to project bonds issued by importers for the funding of medium and long-term export transactions with the settlement period of export proceeds exceeding two years.
Target TransactionsTransactions involving bonds, trust agreements and ancillary finance agreements with the repayment period exceeding two years for a financial institute to provide funds necessary for payment of export proceeds to a foreigner
※ Applied limitedly to export transactions of ships and floating offshore facilities
Losses Eligible for CompensationA loss caused by an insurance policy holder becoming unable to recover the principal or interest of a bond issued on the repayment due date as specified in the conditions for the bond that is in an amount to add each of the following:
- Principal and interest the insurance policy holder cannot recover on the repayment due date specified in the conditions for the bond
- Interest incurred up to the insurance payment date after the repayment due date for the balance of the unpaid principal and interest (normal interest rate as specified in the conditions for the bond applied)
- Point of Contact : Project Finance Coordination Department