ShortTermEportCreditInsurance短期出口信用保险英文条款.docx
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1、China Export & Credit Insurance CorporationShort Term Export Credit Insurance - Comprehensive PolicyShort Term Export Credit Insurance - Comprehensive Policy Chapter OneScope of PolicyArticle I.Exports insurable under the Policy are the exports conducted by the entities incorporated under the law an
2、d registered within the territory of the Peoples Republic of China (hereinafter refers to as “China”) who are licensed to handle import-export business provided the following terms and conditions are satisfied.1. Goods are exported from China,2. The Sales Contract, which specifies the transaction es
3、sentials including the name, quality standard, specification, quantity, price of the goods as well as the time limit for performance, is issued in written form and come into effect before the export,3. The payment term includes documents against payment (D/P), documents against acceptance (DA) and o
4、pen account (OA), etc and the period of payment under which is not exceeding 180 days.Chapter TwoCoverageArticle II.The Insurer shall indemnify the Insured, and subject to the payment of premium by the Insured in accordance with the terms and conditions of Article Five, against direct losses resulti
5、ng from the following event occurring after the exports pursuant to the sales contracts.1. Commercial risk:a. Buyers Insolvency and/or Inability to pay the debt due, namely the buyer is declared to be bankrupt or loose the capability of paying debt;b. Protracted default, which occurs when the buyer
6、has received the goods whilst the debt remains unpaid in whole or in part after expiration of the due date due to thenon-compliance of its contractual duty by the Buyer;c. Buyers Refusal to take delivery of the goods, namely the Buyer fails to observe its duties under the sales contract and refuses
7、to take delivery of the arrived goods.2. Political riska. The operation of any laws, regulations, orders, rules or administrative measures of the buyers country or region which prevents or restricts the transfer of payments due in the currency designated in the invoice or in any other freely convert
8、ible currency.b. The imposition of any laws, regulations, orders, rules or administrative measures by the buyers country or region which restrains the import of the goods ordered by the buyer.c. The imposition of any laws, regulations, orders, rules or administrative measures by the buyers country o
9、r region which revokes the buyers previous import license or prevents the extension of its validity;d. A general moratorium decreed by the buyers country or by a third country through which the payment must be effected;e. The occurrence of war, civil commotion, insurrection, revolution or rebellion,
10、 which prevents the buyer from performing its contractual duty;f. Unless otherwise provided by the Policy, the occurrence of any other events deemed to be political risks by the Insurer, which prevents the buyer from performing its contractual duties.Chapter ThreeExclusionsArticle IIINotwithstanding
11、 other provisions contained in the Policy, the Insurer shall not be liable for1China Export & Credit Insurance CorporationShort Term Export Credit Insurance - Comprehensive Policyany loss arising from the following events:1. Wear and tear, damage, spoilage, loss or destruction of the goods occurred
12、during the transportation and/or the storage period and/or the loss which has been insured or can be insured at the time of export in the customary way by cargo insurance or other similar class of insurance;2. Exchange rate fluctuations;3. A breach of any duties under the sales contract or any compe
13、tent law by the Insured or its agent;4. Insolvency, any breach of contract, fraud, violation of law and any similar acts on the part of the buyers agent;5 Commercial risks due from export to any Affiliated Company;6 The frustration of the Sales Contract due to the failure of timely obtaining of any
14、necessary import or export license, approval or authorizations by the Insured or the buyer;7. The Insured waives its rights to rescind or suspend the contract and carry on to release the goods despite the fact that risks listed in Article II of Chapter Two and/or the material breach and/or anticipat
15、ing breach to the sales contract by the defaulting buyers has occurred and the occurrence of which has come into the Insureds knowledge before the export;8. The export to the buyer when at the time of shipment the buyers Credit Limit approved by the insurer is “Zero” or when the Credit Limit has bee
16、n withdrawn, void or when the Discretionary Credit Limit has no apply;9. The release of goods by any bank, freight forwarder or carrier without proper authority;10. The loss occurred prior to the export ;11. Ionizing radiations or contamination directly or indirectly caused by radioactivity of nucle
17、ar waste or the combustion of nuclear fuel, and/or radioactive, toxic, explosive or other hazardous properties caused by any explosive nuclear assembly or nuclear components thereof,12. The war(s) between any two or more of the permanent members of the Security Council of the United Nations;13. Any
18、other losses beyond the scope of Coverage of the Policy.Chapter FourLimit of LiabilityArticle IV.The Maximum Limit of Liability under this Policy is the maximum amount of aggregated loss the Insurer may be liable to pay during the term of the Policy and in respect of the exports declared under the P
19、olicy. The Maximum Limit of Liability will be specified in the Policy Schedule.Article V.The Credit Limit includes Discretionary Credit Limit set up by the Insured and Credit Limitapproved by the Insurer.1. Unless otherwise provided by the Policy, the Discretionary Credit Limit operates when the Max
20、imum Limit of Liability is automatically granted by the Insurer without prior application by the insured for exports to a certain buyer in accordance with the terms and conditions specified in the “Insured Country / Region List”. The DiscretionaryCredit Limit will be specified in the Schedule of the
21、 Policy. The Insurer will be liable to the exports in line with the Discretionary Credit Limit when the procedure for Credit Limit approval was not triggered. The Amount Payable is however subject to the Percentage of Indemnity specified in the Policy Schedule.2. The Credit Limit approved by the Ins
22、urer is the maximum amount of loss that the Insurer may be liable in respect to a certain export to a certain buyer. The amount payable is however subject to the Percentage of Indemnity specified in the Policy2China Export & Credit Insurance CorporationShort Term Export Credit Insurance - Comprehens
23、ive PolicySchedule. The Insured shall apply to the insurer in a written form for a Credit Limit for each buyer individually. The Credit Limit approved by the Insurer is valid for the corresponding export made after its effective date. Unless otherwise provided, such Credit Limit is revolving for the
24、 whole period of insurance. The Discretionary Credit Limit becomes void accordingly once the Credit Limit approved by the Insurer came into effect.3. The Credit Limit approved by the Insurer in respect of a certain buyer becomes void automatically upon the Insureds filling of “Notification of Likely
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