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Export Credits Insurance in the International Practice

Author

Listed:
  • Vãduva Cecilia Elena

    („Constantin Brancusi” University of Targu Jiu, Faculty of Economics and Business Administration, Romania)

Abstract

The credits insurance has the mission to offer protection to the economic agents against the specific export risks. An export contract can have as object delivery of goods, execution of works and carrying out services, including cession of licenses, patents in favor of some buyers or beneficiaries residing abroad. When the contracting parts convey that the requisites, works and services, which represent the object of the present export contract, are not to be paid at delivery, but after passing an interval of time, the supplier grants the external buyer a commercial credit. Consenting to such a modality of payment, the supplier assumes the credit risks in export, the treasury effects of the export operation with the term payment. In order for the credit export locks up for a period of time the supplier’s financial resources incorporated in the delivered products on credit, this sees himself obliged to complete them.

Suggested Citation

  • Vãduva Cecilia Elena, 2013. "Export Credits Insurance in the International Practice," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 667-672, May.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:1:p:667-672
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    Keywords

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    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F65 - International Economics - - Economic Impacts of Globalization - - - Finance

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