ArmInfo. Export Insurance Agency of Armenia and Eurocup LLC have signed an Insurance Contract on export of metal lids to Russia. As the press-service of the Agency informed ArmInfo, the document was signed on February 15.
According to the source, the insurance covers losses incurred as a result of non-payment for supplied goods by the Foreign Buyer, which can be caused by commercial (bankruptcy or refusal to pay without legal basis) and by political (administrative decisions, restriction of trade and international transfers) risks, natural disasters and circumstances of insuperable force.
To recall, Export Insurance Agency of Armenia Insurance CJSC was founded on October 23, 2013 by the decision of the Government of the Republic of Armenia within the framework of the export-oriented industrial policy. The Company provides insurance against the financial losses incurred as a result of non-payment for supplied goods by the Foreign Buyer or its Bank, which has a payment obligation under the Contract. The services offered by our Company
are efficient solution for the control of export risks of our customers. EIA is a fully state-owned company.