Export Payment Insurance Policy (EPIP)
Export Credit Insurance is designed to protect Zimbabwe exporters from losses that may arise from a variety of commercial and political risks inherent in all export transactions. This protection will also enhance their capacity to compete in the international markets and enable them to break into new markets, introduce new products and up new buyers.
Risks Covered
Commercial Risks
- Insolvency of the buyer his protracted default and non-acceptance of exported goods.
- Insolvency and protracted default of the L/C issuing bank.
Political Risks
- War
- Civil disturbance
- Moratorium
- Imposition of new import or exchange control regulations
- Transfer delays
Risks not Covered
Losses arising from the following risks are not covered:
- Exchange rate fluctuation
- General and marine insurance risks
- Trade dispute between the exporter and the buyer
Domestic Payments Insurance Insurance Policy (DPIP)
The Domestic Insurance Policy (DPIP) is designed to provide protection to Companies against commercial credit risks inherent in local transactions.
Risks Covered
- Buyer insolvency and protracted default are the commercial risks covered under the policy.
Risks not Covered
Losses arising from the following risks are not covered:
- Insolvency of any agent of the Company or of a collecting bank or from any act or default of such agent or collecting bank.
- Any failure or inability of the Company or buyer to obtain authority to deliver or accept goods where such authority is required by regulations.
- Risks covered by general insurers
- Trade dispute between the Company and the buyer.
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