When you’re selling to a foreign government or public-sector buyer, contract frustration insurance or contract repudiation insurance protects against non-payment or arbitrary non-honoring of your contract, either before or after your shipment of goods or performance of services. Political risk insurance is also available to protect against non- honoring of sovereign government payment guarantees, whether […]
Tag Archives | Risk
Currency inconvertibility
There are two types of political risk insurance relating to currency risks. One deals with the inconvertibility of local currency into hard currency and the other addresses the inability to transfer hard currency out of the country. Currency inconvertibility and transfer risk policies apply to losses resulting from financial crises, hard currency shortages, exchange controls, […]
