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Risk & insurance

Doing overseas business brings new risks along with great opportunities. As an exporter it is important for you to know the risks that can be involved so that the risks can be identified and managed easily. Trade transactions are full of risk and complexity. Through our wide range or insurance and trade solutions and products we can easily secure contracts and agreements to mitigate risks involved in trade transactions.

Risk and insurance products include:

  • Guarantees
  • Bonds
  • Credit issuance
  • Sureties
  • Claim management

Guarantees

A guarantee is a legal document which provided by finance institution. It means that the finance institution ensures the contractual obligations or liabilities of a debtor will be met. In other words, if the buyer fails to settle a debt, the lender will cover it. Similarly, if the exporter fails to deliver the products then the buyer can call the “guarantee” in terms to avail the financial compliance.

Bonds

Bond is used by entities in order to raise money. The bond is issued for a specific set of amount, and the buyer of the bond lends the customer the amount of the bond for a particular tenure or period with an interest rate. It is issued with an end date or maturity date. It can be considered as an instrument which is designed to protect a party as per the contract from the risk of a broken contract.

Credit issuance

It is a process in which the buyer guarantees the seller regarding the payment that the full payment for the service being provided will be made once the conditions of the agreement are fulfilled. It is generally provided by a third party who can be a bank or finance institutions.

Surety

It can be considered as a type of guarantees which is issued by some third party and commits to pay directly for the loses one party goes through if the other party involved breaches the contractual terms. Basically they provide surety for covering the loss that either the importer or exporter may go through.

Claim management

It refers to the compensation, settlement, reparation that has to be done when one of the involved parties breaches the contractual terms and conditions. It includes paying for the loss that the buyer, supplier or seller may have come across and have filed a claim for the compensation. It is managed by the bank or finance providers who were involved in the legal agreement as guarantors and finance providers.

Products of Risk and Insurance

Want more information about risk mitigation services? or looking for any other trade service? Talk to our global trade experts now.

Features of Connect2India finance

Why finance with Connect2India

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Easy processing

Complete online application process makes it easier for us to process forms faster and provide same day loan approvals.

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Fast disbursals

With online loan processing, business loan is disbursed within 3-5 business days of loan approval.

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Collateral free loans

No need to put your valuable assets in risk, we have unsecured loan that do not require any collateral.

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Fair interest rates

Our advanced algorithms determines the best rates for the type of loan you business require.

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No hidden costs

There will be no hidden costs or any other charges involved. Only processing fee of 2% is charged

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Flexible repayments

Loan repayment structure can be customized depending upon how your business is growing.