This contract protects contractors’ equipment located in an Arab country – other than the Contractor’s country – against political risks such as Deprivation (inability to re-export), Expropriation, Riot and Terrorism and War.
The eligible equipment must be imported from outside the project country or acquired locally and paid in foreign currency transferred from abroad.
The insurance contract period corresponds to the project execution schedule. In case an insured risk materializes, the insured contractor will be paid a compensation ranging between 85% and 90% of the incurred loss.
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