Under normal circumstances, when the insured enterprise defaults, the Credit Insurance Association will pay compensation to the insured enterprise according to the payment ratio agreed with the enterprise in advance. This delay may be caused by political risks (including foreign exchange restrictions, expropriation, war and riots in the debtor's country) or commercial risks (including default, rejection of goods, insolvency, bankruptcy, etc.). ).
There are mainly export credit insurance and mortgage credit insurance. In order to prevent the insured from mismanagement and abuse of credit due to credit insurance, the insured is usually required to share a certain share of losses with the insurer as a * * *, and there are certain requirements for the subject matter of credit to prevent the insurer from suffering unreasonable losses.
Extended data:
The role of Xinbao:
1, which is conducive to ensuring the stable development of production and business activities of enterprises.
When granting loans to enterprises, banks must consider the safety of loans, that is, whether the loans can be recovered in time. After handling the credit insurance, the enterprise can mortgage the insurance policy to the loan bank as a guarantee, transfer the insurance compensation to the loan bank, and require the insurer to issue a letter of guarantee to the loan bank, so that the bank can get a reliable guarantee to recover the loan and relieve the worries of the bank in issuing the loan.
It can be seen that the intervention of credit insurance makes it easier for enterprises to obtain bank loans, which can alleviate the shortage of funds and promote the development of production and operation.
2. It is conducive to promoting the healthy development of commodity trading.
In commodity trading, whether the parties can fulfill the supply contract on time and recover the sales money in time is generally affected by many factors. There is a chain relationship between commodity transfer and producers, wholesalers, retailers and consumers.
Once a credit crisis occurs in a certain link of commodity trading, it will not only cause the creditors' own losses, but also often cause a chain reaction, thus interrupting the commodity trading relationship and ultimately hindering the healthy development of commodity economy. With credit insurance, all insurance companies provide risk protection no matter what kind of transaction credit crisis occurs. Therefore, even if a link goes wrong, it can be remedied in time.
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