Whole Turn-Over Policy
This policy covers all exports made by an
Iranian exporter to different countries against major political &
commercial risks for a period of one year. Under this policy, the insured
should make monthly declarations of his export activities and pay the
determined premium simultaneously.
The policy covers one or more shipments made
by an Iranian exporter to a foreign buyer only under a particular contract.
Techno-Engineering Services Policy
This policy covers construction projects
implemented or engineering services provided by Iranian contracting and engineering
companies in other countries against political and commercial risks.
Export Contract Frustration Policy
This policy covers any loss incurred due to
the frustration of export letters of credit/contracts. In case the Iranian
exporter sustains a loss due to any of the covered risks, EGFI will indemnify
him, provided that the incurred loss is not due to his breach of contractual
Manufacturer's Credit Guarantee
The Iranian exporters who intend to purchase
their export commodities on credit terms from domestic manufacturers may submit
EGFI’s guarantee to the manufacturer as collateral to guarantee the fulfillment
of their obligations toward the supplier. EGFI evaluates the creditability of
the Iranian exporter and obtains the minimum possible collateral from him prior
to the guarantee issuance.
For Banks & Exporters:
Local Credit Guarantee
Iranian Banks and Financial Institutions who
intend to grant short term local currency (Rial) facilities/ loans to domestic
exporters with the aim of financing their export activities and providing their
working capital, may obtain EGFI’s “Local Currency Credit Guarantee” as a
substitute for the collateral they require to insure the repayment of the
granted facility by the debtor, i.e. exporter, on the due date.
Forex Credit Guarantee
“Foreign Exchange Credit Guarantee” can be
used as an appropriate substitute for the collateral required by the banks
granting forex facilities to Iranian exporters.
Discounting of Export Bills Insurance Policy
This insurance policy covers the risk of
non-payment of the export bills (including L/C or bill of exchange) discounted
by Iranian banks. In case of the non-payment of the export bills by the foreign
buyer/bank, the claim will be paid to the discounting bank.
Sight L/Cs Insurance Policy
This insurance policy covers the risk of
non-payment of the issuing bank to the advising bank, after receiving the
documents mentioned in L/C. Therefore, the exporter will receive his money
immediately from the advising bank backed by EGFI's Guarantee, after
negotiation of the documents, and before the final approval of the issuing
Buyer’s Credit Guarantee
To help Iran's export promotion, domestic
banks may provide foreign buyers, who intend to import goods or services from
Iran, with buyer’s credit lines to enable them to buy on credit terms. To
insure the due repayment of the credit granted to the foreign buyer/buyer’s
bank, the creditor/Iranian bank may require securities. This Guarantee is a
suitable substitute for the collateral required by the creditor.
Bank Guarantee Insurance Policy
This policy covers the risk of calling of the
Bank Payment Guarantee, which is issued by the Iranian banks in favor of
foreign financers of Iranian technical projects in target markets.
For Investors & Banks:
This Policy covers the principal &
interest of the medium & long term investments made by the Iranian
investors in target countries solely against political risks.
In case the investor gets a loan from a bank
for his project, he can assign the rights of the Investment Policy to the
financing bank as a security.
For Banks &
Coverage for Banks' Bonds
According to Cabinet's Act in 2008, EGFI is
to cover Iranian banks, issuing performance and advance payment bonds for
Iranian contractors and constructors winning in International bids inside Iran,
and consequently support the contractors in international competitions.
- Credit Evaluation Reports of foreign
- Necessary consultancy to the exporters
applying for policies and guarantees.
Risks covered by
- Buyer’s failure, or unwillingness to accept
the exported goods & services
- Non-payment of the price of goods &
services on due date
- Buyer’s protracted default due to
bankruptcy, insolvency or lien.
- Outbreak of war or state of war
- Straining or severance of diplomatic
relations with the buyer’s country as a result of which the exporter is unable
to collect his receivables on the due date
- Imposition of economic policies in the
buyer’s country which may block the exporter’s receivables
- Imposition of restrictions on imports or
foreign exchange transfer in the buyer’s country
- Confiscation & nationalization of the
buyer’s properties as a result of which the exporter is unable to collects its