BAEZ
BAEZ was established in 1998 as a joint stock company. It is the first Bulgarian insurance company, which offers export credit insurance against commercial and political risks.
The amount of the capital of BAEZ is BGN 10 millions. This capital is 100 % held by the Republic of Bulgaria, represented by the Minister of Economy.
The object of export credit insurance against short-term commercial risk is payments under contracts for export of goods and services, concluded under conditions of deferred payment up to 1 year. The insurance covers risks, related to the foreign buyer - insolvency and protracted default. If the export is to a country with non-marketable risks, BAEZ also covers risks of unilateral cancellation of the contract and non-acceptation of the goods by the foreign buyer.
The insurance cover of export credit insurance against short-term political risk includes the payments under contracts for export of goods and services, concluded under conditions of deferred payment up to 1 year. Covered risks include occurrence of political events in the country of the foreign buyer, leading to non-payment under the export contract.

Financial insurance, offered by BAEZ, provide important benefits for the companies. Export credit insurance policies give the possibilities for:

  • Active and successful cover and management of the non-payment risks under the export deals and thus providing protection against financial loses.
  • Increase the company's competitiveness by offering deferred payment to its clients and cover the risk of non-payment in BAEZ.
  • Effective management of the financial liquidity.
  • Receiving reliable information of the financial condition and creditworthiness of their partners.
  • Wider access to financing by assigning the rights under the policy to a commercial bank.
Managing Committee:
Docho Karadochev

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