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Covering my Political Risks

Increasing globalisation has presented companies and financial institutions with new challenges, opportunities, uncertainties and political risks.
 
COFACE’S RESPONSE TO YOUR NEEDS
Coface's dedicated Political Risk team offers a broad range of trade credit and political risk capability - focused on export single risk, political risks, multinational credit insurance and non standard insurance linked to underlying trade finance.
COVER POLITICAL RISKS ON A CASE-BY-CASE BASIS
Insights from a Coface expert
A French manufacturer of equipment for the energy industry had signed a contract with a public company in the Maghreb region. Based in Rennes, the company was due to deliver and install several batches of equipment in electric power plants over a 48-month period.
 
However, without indicating any reason why, the buyer broke off this contract while it was being implemented, despite the fact that the French company had already started to deliver and install the equipment.
 
The manufacturer notified Coface immediately and explained that its customer was also refusing to pay for any equipment that had already been installed. We advised it on a plan of action taking the specific features of the contract into consideration, as well as the relationship with its customer.
 
After the negotiations failed to reach a positive outcome, Coface paid the claim for the non-payment of the equipment which had already been delivered and received. In addition, as the company was unable to withdraw from its deals with its subcontractors, Coface paid out compensation for the loss sustained under its manufacturing risk cover.

POLITICAL RISK COVER TAILORED TO YOUR NEEDS

Political Risk Cover

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