Asuransi Ekspor Indonesia (ASEI)
Founded in 1985, Asuransi Ekspor Indonesia (PT ASEI) is a financial institution wholly-owned by the government of Indonesia. Its main goal is to promote non-oil Indonesian companies exports and international trade with Indonesia by providing financial instruments. PT ASEI provides broad range of insurance products including export and domestic credit insurance, counter bank credit guarantees, import insurance to Indonesian exporters/importers, domestic sellers/buyers and banks.
Main instruments :
- Export Credit Insurance
Instrument Export Credit Insurance Instrument Insurance Eligible investments, borrowers, and projects Indonesian exporters/importers, domestic sellers/buyers and banks Eligible beneficiaries Indonesian exporters to enter new and non-traditional markets Eligible forms of investment Loan, equity, bonds, credit, post shipment financing Risk types covered Commercial Risks:
-Importer payment default
-Importer refusal of acceptance of goods
-Currency control/remittance ban
-Import quota restrictions
-Revocation of import license
-Act of war or other hostilities
Maximum tenor No set maximum Maximum amount or cover Indemnity of up to 85% of loss. If PT ASEI recovers any amount under subrogation, 15% of that amout recovered is returned to the exporter.