Unconfirmed Letter of Credit Insurance Policy

The policy covers any failure or refusal of the Issuing Bank to honor its obligation of payment to the Insured on the original due date as a result of the occurrence of a Covered credit and/or political risks.
Dhaman compensates the insured exporter against realized risks up to 100% of the L/C value.

Procedure

  • Application form

    The exporter submits the application for ULC insurance

  • ULC Insurance quotation

    Dhaman provides the exporter with an indication detailing the scope of cover and the pricing

  • Issuance of the Insurance policy

    Acceptance of quotation /policy signature/premium payment

  • Declaration of shipments

    Declaration of shipments made under the Insured Letter of Credit within 7 days

  • Compensation Process

    Declaration of default of payment/Compensation disbursement/Collection from the defaulting Bank

Contact info

  • Sara S. Alrifaee Head of Short-term Export Credit Insurance

  • +965 24959534
  • sara@dhaman.org