Contractors Insurance

A kind of insurance used in contracts abroad to cover the following risks:

• The conditions of the contract are not fulfilled by the public buyers and receivables from contract are not paid
• War, civil war, seizure, expropriation, nationalization
• Payments done by local currency instead of foreign currency or transfer restrictions
• Denial of work permits to company managers and employees
• Imposing of an embargo and/or  license cancellation
• Arbitrary termination or change of insured contract by the buyer
• Failure, refusal or inability of the buyer to perform its obligations under the insured contract, provided that it renders it impossible or commercially impracticable for it to fulfill its obligations under the insured contract.