CONTRACT FRUSTRATION INSURANCE

 

Contract Frustration Insurance is also commonly known as Public Buyer Default. If you want to ensure that everything goes effortlessly when you enter in to an international contract, then you should consider Contract Frustration Insurance. It indemnifies eligible losses up to 90%.

 

By protecting your business against political and commercial risk, Contract Frustration Insurance will enable you to bid on larger contracts and enter new markets to pursue new customers.

 

COVERAGE

 

Non-payment or incapability of buyer to pay debt

 

  1. Pre and post shipment risk and non-delivery risk

  2. Licence cancellation

  3. Calling of performance guarantees and advanced payment

  4. Restrictions on import and export

 

KEY BENEFITS OF CONTRACT FRUSTRATION INSURANCE

 

  • Protects against cancellation of a contract
  • Protects against customer default or bankruptcy
  • Free up working capital
  • Protects against cancellation or rejection of renewal of import or export permit by government of Canada
  • Eliminates political and commercial risk

 

QUALIFICATION CRITERIA

 

  • International customer’s creditworthiness
  • Terms of contact
  • Value of exports
  • Capabilities to exporting goods and services

 

For more information on Contract Frustration Insurance, or to discuss your existing insurance policies, please call at 416 484-4545 or email us at cover@getcreditinsurance.ca. 

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