Credit Insurance Function
Medium - and long-term export credit insurance business; Overseas investment (lease) insurance business; Short-term export credit insurance business; To invest in insurance business in China; Domestic credit insurance business; Guarantee business related to foreign trade, foreign investment and cooperation; Reinsurance business related to credit insurance, investment insurance and guarantee; Operation of insurance funds; Accounts receivable management, commercial accounts collection and factoring; Credit risk consulting, rating business, and other business approved by the state. Sinosure has also launched an e-commerce platform with multiple service functions -- "Sinosure", and an insurance system of "SME Credit Insurance E Plan" specifically to support the export of smes, so that our customers can enjoy more efficient online services.
Short-term Export Credit Insurance
Short-term export credit insurance generally protects the risk of export collection of foreign exchange within one year of the credit term. Applicable to export enterprises engaged in L/C, D/P (D/P), D/A (D/A), credit sales (OA), export from China or re-export trade.
Underwriting risk Commercial risk - the buyer goes bankrupt or becomes insolvent; The buyer defaults on the payment; The buyer refuses to accept the goods; The issuing bank goes bankrupt, ceases business or is taken over; Issuing bank defaults or refuses to accept under usance credit when documents comply or only comply.
Political risk -- the country or region where the buyer or issuing bank is located prohibits or restricts the buyer or issuing bank from making payment to the insured for goods or credit; Prohibit the import of the goods purchased by the Buyer or revoke the import licence issued to the Buyer; In the event of war, civil war or insurrection, the Buyer is unable to perform the contract or the issuing bank is unable to perform its payment obligations under the credit; The third country through which the buyer is required to make payment has issued an order of deferred payment.