WHAT is Commercial Risk Insurance?
One of the two main categories of risks managed by Cultivar Insurance Ltd. Commercial Risk Insurance indemnifies the Insured against financial loses owing to the non-payment of a private-sector counterparty (under a trade agreement) or a borrower (under a trade-financing agreement)
Failure of a private sector counterparty/borrower to make contractually due payments.
Failure by a private sector counterparty/borrower to pay the contractual debt within a pre-defined period.
The status where a private sector counterparty/borrower can no longer meet its financial obligations to its creditors.
Legal procedure for liquidating a private sector counterparty/borrower.
An arbitrary withdrawal of a private sector counterparty from its duties and responsibilities imposed by a trade contract.
Violation(s) of any of the agreed-upon terms and conditions of a binding trade contract by a private sector counterparty.
