Export Payment Insurance Policy (EPIP)
Export Credit Insurance is designed to protect Zimbabwe’s exporters from losses that may arise from a variety of commercial and political risks inherent in all export transactions. This protection will also enhance their capacity to compete in the international markets and enable them to break into new markets, introduce new products and take up new buyers.
Risks Covered
Commercial Risks
▪ Insolvency of the buyer, his protracted default and non-acceptance of exported goods.
▪ Insolvency and protracted default of the L/C-issuing bank
Political Risks
▪ War
▪ Civil Disturbance
▪ Moratorium
▪ Imposition of new import or exchange control regulations
▪ Transfer Delays
Risks not Covered
Losses arising from the following risks are not covered:
▪ Insolvency or failure of any agent of the exporter
▪ Failure of the exporter or the buyer to obtain necessary authority to execute the export.
▪ Exchange rate fluctuation
▪ General and marine insurance risks
▪ Trade dispute between the exporter and the buyer
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