Insurance
Insurance of Bank Service Guarantees

In international business, particularly in the export of equipment, performance of investment work, etc., it is an established practice for the buyer to require from the exporter adequate guarantees to cover risks on the exporter's side (i.e. a bid bond, a performance bond - for the good execution of work, an advanced payment bond, a warranty bond, a retention money bond). Guarantees, issued mostly by banks, are issued in content and form required by the beneficiaries and therefore efficiently protect them against commercial risks, and must be provided by the exporter. The exporter and exporter's bank face certain risks in connection to guarantees in international trade, which can be insured by SID Bank.

Insurance of exporter

The exporter can be insured against

  • unfair calling and calling of guarantees due to political and other non-commercial risks.

Insurance of guarantor

The exporter’s bank can be insured against

  • the calling of guarantees for any reason.

 

thousand
New jobs in 2017
mio €
Additional sales in 2017
mio €
Additional exports in 2017

Call us at +386 1 200 75 00 or e-mail us at info@sid.si

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