Country trade data

• Export credit insurance that covers exporters against commercial and non-commercial risks
• Includes buyer’s insolvency/bankruptcy, buyer’s failure to pay, buyer refusing delivery of goods, foreign exchange transfer delay, import bans or cancellation of import license, payment moratorium, war, civil disorder, and natural disasters
• Short, medium, and long-term credit risk
• Whole turnover insurance:
• Insures business against non-payment of invoices due to commercial default or non-payment due to political risk
• Tenor: 12 to 24 months
• Cover: Up to 90%
• Pre-shipment risk insurance:
• Protects exporter losses due to cancelled orders
• Tenor: Policy period will match production time
• Cover: Up to 90%
• Invoice discounting insurance:
• Covers all invoices to export buyers issued by UAE exporters and purchased with recourse to the exporter.
• Tenor: 12 to 24 months
• Cover: Up to 90%; ECI may allow the bank to return the uninsured part of the debt to the exporter
• LC confirmation insurance
• Insures LCs issued to a UAE exporter for export goods in the case of default by the issuing bank
• Tenor: Up to 24 months (extendable to 36)
• Cover: Up to 90%
• Factoring insurance:
• Protects banks or factors against non-payment on receivables they purchase from exporters without recourse
• Tenor: 12 to 24 months
• Cover: Up to 90%
• Supply chain financing insurance:
• Secures bank against the potential risk of default on payments for a loan to the exporter
• Tenor: Policy period will match the repayment terms
• Cover: Up to 90%
• Non-payment insurance:
• Reduces a bank’s risk of loss due to non-payment on loans made by UAE banks for the purchase of goods of UAE origin, or trade finance loans that are used to prepare and execute UAE export contracts
• Tenor: Policy period will match the repayment terms
• Cover: Up to 90%
• Project finance insurance:
• Protects UAE banks in case of payment default on a loan granted to an SPV backed by a UAE company
• Political risk insurance for investments
• Tenor: Up to 10 years
• Cover: Up to the total value of the equity investment
• Green working capital insurance:
• Protects loans against payment default for green exports
• Tenor: Up to 7 years
• Cover: Up to 95%
• Buyer credit insurance:
• Protects bank from payment defaults on a loan given to a foreign buyer to purchase goods from UAE exporter
• Tenor: Up to 15 years

• Post-shipment financing of exports through bills discounting with the commercial banks at concessional interest rates
• Pre-shipment financing facilities for exporters through commercial banks against guarantees issued by ECI for working capital requirements to meet and enhance the opportunity for their export sales

• Bid bonds (Temporary and Definitive): Guarantee the commitment of the contractor during a foreign tender to sign the contract, as well as guarantee that the contractor awarding a contract complies with all the obligations undertaken on signing the contract
• Guarantee the repayment of advance payments made by the purchaser for the execution of the contract abroad in the event of non-fulfilment by the U.A.E. company
• Guarantees for customs duties: U.A.E. businesses substitute the payment of duties related to customs operations with the establishment of surety bonds and through surety policies
• The guarantees apply to temporary imports, customs deposits, and periodic and/or deferred payments in the event of continuous customs operations
• Guarantees for employers in lieu of the bank guarantees that have to be given to the Ministry of Labor and Social Affairs for every new employee that is hired