Export Bond Insurance - K-sure,

This product covers losses suffered by financial institutions
in case exporters default on redeeming their bank guarantees
issued by financial institutions for export transactions.

During international transactions, importers present L/Cs for
security for their payments to exporters, while importers demand
bank guarantees from exporters as security for the performance of export.

For financial institutions: When the policyholder a guarantee-issuing financial institution.

For exporters: When the policyholder is an exporting company

The contract “for exporters” is an insurance contract where the financial institution is the insured.

Fair Calling

When the “calling” is based on the ground of the exporter’s default

Unfair Calling

• When the “calling” belongs to any of the following categories:
• - When the exporter stands in debt pursuant to the export contract
• - When the exporter had not or is unable to fulfill debt requirements due to reasons not attributable to exporter’s fault, resulting in the exporter not fulfilling the applicable export contract