Contract Frustration Insurance
Contract Frustration Insurance covers Canadian companies for up to 90 per cent of costs incurred or receivables lost in association with a specific export contract for services, capital goods or projects.It protects you against a range of commercial and political risks, including:
- buyer insolvency;
- cancellation of export or import licenses and permits;
- host government’s moratorium on debt;
- non-conversion of currency or inability to transfer funds;
- non-payment or default by your customer;
- termination or cancellation of the contract by your customer; and
- war, revolution, insurrection or other political disturbances.
Qualification
In evaluating applications, we consider several criteria—among them:
- the value of your exports and any other significant benefits to Canada;
- creditworthiness of your foreign customer;
- contractual terms;
- the conditions and economic outlook in your customer’s country; and
- export capabilities.
Cost
Pricing is based on a number of factors including policy liability, length of policy, payment terms, buyer risks and other contract-specific risk factors.
Claims
As a customer, if you encounter a collection problem, we have a simple and effective claims process. Claims forms are available in EDC Direct.
Apply
Application Form (PDF Format)
More information
Brochure (PDF Format)
Call 1-866-283-2957 weekdays between 8 a.m. to 6 p.m. EST or submit an inquiry online.
Important Information
The above information describes, in general, EDC services and is not a commitment to provide them. Only the documentation supplied by EDC, in connection with any transaction, provides the full detail and terms and conditions.
