1.1  Short-Term Export Credit Insurance 
· What is Short-Term Export Credit Insurance?
Short-Term Export Credit Insurance protects an exporter of products and services against the risk of non-payment by a foreign buyer. In other words, it significantly reduces the payment risks associated with doing business internationally by giving the exporter conditional assurance that payment will be made if the foreign buyer is unable to pay. Simply put, exporters can protect their foreign receivables against a variety of risks that could result in non-payment by foreign buyers.
· Risks Covered
This product generally covers commercial risks (such as insolvency of the buyer, bankruptcy, or protracted defaults/slow payment) and certain political risks (such as war, terrorism, riots, and revolution) that could result in non-payment. It also covers currency inconvertibility, expropriation, and changes in import or export regulations. It is offered either on a single-buyer basis or on a portfolio multi-buyer basis for short-term (up to one year) repayment periods.
PICC Short-Term Export Credit Insurance allows exporters to offer competitive open account terms to foreign buyers while minimizing the risk of non-payment.
- Even creditworthy buyers could default on payment due to circumstances beyond their control.
- With reduced non-payment risk, exporters can increase export sales, establish market share in emerging and developing countries, and compete more vigorously in the global market.
- When foreign accounts receivable are insured, lenders are more willing to increase the exporter’s borrowing capacity and offer more attractive financing terms.
- PICC Short-Term Export Credit Insurance does not cover physical loss or damage to the goods shipped to the buyer, or any of the risks for which coverage is available through marine, fire, casualty or other forms of insurance.
 
1.2  Short-Term Export Specific Contract Insurance
· What is Short-Term Export Specific Contract Insurance?
Short-Term Export Specific Contract Insurance protects an exporter of specific contract against the risk of non-payment by a foreign buyer or contractor. In other words, Short-Term Export Specific contract insurance significantly reduces the payment risks associated with executing project contract in international market by giving the exporter conditional assurance that payment will be made if the foreign buyer is unable to pay.
The payment period of the Short-Term Export Specific Contract Insurance shall be no longer than 2 years.
· Risks Covered
Short-Term Export Specific Contract insurance generally covers commercial risks (such as insolvency of the buyer, bankruptcy, or protracted defaults/slow payment) and certain political risks (such as war, terrorism, riots, and revolution) that could result in non-payment. Short-Term Export Specific contract insurance also covers currency inconvertibility, expropriation, and changes in import or export regulations. Short Term Export Specific contract insurance is offered a single-buyer basis two years repayment periods.

2.1  Short-Term Domestic Trade Credit Insurance
· What is Short-Term Domestic Trade Credit Insurance?
The Short-Term Domestic Trade Credit Insurance indemnifies the policyholder for the invoice value of goods delivered to a customer but unpaid due to credit risks such as protracted default or the customer’s insolvency. The Short-Term Domestic Trade Credit Insurance covers goods selling and service trade as well.
Policies are written on a 12-month basis, covering goods delivered to customers during the policy.
· Risks Covered
During the insurance period, after the Insured deliver goods or provide services to the buyer according to the sales contract, the Insurer will indemnify the Insured against direct losses of payment resulting from following events:
  >Bankruptcy of the buyer
When the buyer has entered bankruptcy per court’s announcement, or upon receiving court’s judgment or ruling to enter liquidation.
  >Default by the buyer
When a buyer fails to pay the insured either full or part of the amount owing under the sales contract after end of the waiting period.

2.2  Domestic Specific Credit Insurance
· What is Domestic Specific Credit Insurance?
Domestic Specific Credit Insurance protects a local supplier from the loss of A/R under an individual sales contract resulting from contract interruption or non-payment from the buyer.
Operations Covered by Domestic Specific Credit Insurance usually include electrical and mechanical products, equipment packages, high-tech products , bulk trade commodities and contracted projects or related services.
PICC DSCI’s cover can be arranged for up to 5 years.
· Risks Covered
During the insurance period, the insurer will indemnify the insured when below events happen:
  >Bankruptcy of the buyer
the buyer has entered bankruptcy per the People’s Court’s announcement, or upon receiving the court’s judgment or ruling to enter liquidation
  >Default by the buyer
The buyer does not pay or settle the receivable amount after the payment due date agreed under the sales contract has passed and the waiting period has ended. If the payment is made by instalments as agreed in the sales contract, the buyer does not pay the receivable amount after any waiting period of the instalment has ended.

3  Product Quality Bond Insurance
· What is Product Quality Bond Insurance?
This insurance is applicable to the Product produced or sold conforming to relevant quality testing standards for the similar products of the People's Republic of China (PRC). The End-user of the Product has the rights and interests of the Insured under this Insurance Contract. Based on the written Product Quality Warranty provided by the original manufacture to the End-user of the Product, the Insurer shall provide indemnity regarding the liabilities for repair, replacement, refund of the Product. The causes of above indemnity are due to:
  >the Product cannot function as it is supposed to
  >the Product does not meet the standards on the label.
· Features
  >Costs of service fees due to claims are beyond the limit of indemnity, we can cover up to 30% of the aggregate limit of indemnity
  >Deductibles cannot erode the limit of indemnity