Types of Risk
Risks covered include political risks, such as bad debt losses due to legislative or administrative measures, war, and civil commotion, losses due to the inability to convert or transfer sums paid in local currency by the debtor due to restrictions in the international payment system, inability to fulfill the contract due to political circumstances, and loss of goods (before the risk has passed to the foreign buyer) due to political circumstances, such as the goods being confiscated or destroyed. They also include commercial risks such as protracted default and bankruptcy of the buyer.
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