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EIAA - Export Insurance Agency of Armenia (EIAA)

Key facts

  • Established in 2013
  • Ownership: Public
Not Part of the OECD Part of the Berne Union

Latest update: 03/12/2021

Products

  • Pre-export financing insurance
  • Short-term multiple shipments insurance
  • Short-term export factoring

a. Pre-export financing insurance

Armenian exporters receive short-term bank financing, without collateral, fdunder EIAA’s insurance of export contracts. Eligibility:

  • Armenian companies must have at least 1 year of production experience
  • Eligible exports include raw materials, packaging costs, product-appearance demands costs, transportation costs, and customs expenses
  • Tenor: Up to 366 days
  • Insurance coverage is limited to 85% of the export contract if financing is provided in the currency of the export contract, otherwise insurance coverage is limited to 75% of the export contract

b. Short-term multiple shipments insurance

Used by Armenian exporters to cover multiple shipments to a single buyer or to multiple buyers. Financial institutions are insured against losses due to non-payment by the foreign buyer or its bank.

c. Short-term export factoring

Used by Armenian exporters to factor exports to financial institutions. Financial institutions are insured against the losses incurred because of non-payment by the foreign buyer or its bank. Up to 2 year tenor and collateralized by export insurance to financial institution



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