International Project Insurance for Various Risk Categories:
Keep in mind that Ovadya Funding Group International, Inc. nor none of its affiliate Ovadya companies are insurance providers, insurance underwriters, insurance agents, etc.
This information is present here for your information, as, many projects in non-U.S. domiciles may be required to provide certain insurance policies in order to mitigate specific risk(s, such as, but not limited to:
Confiscation, Expropriation, Nationalization – protects companies from loosing their foreign investments in plants, property, and equipment due to acts of a foreign government.
Contract Frustration Insurance – protects companies who cannot complete a contract due to acts of a foreign government, such as trade embargoes, import/export license cancellations, non transfer of currency, unilateral termination of contracts by governmental agencies and non payments by government buyer or by a private company when caused by a political event.
Wrongful Calling of Guarantee Insurance: protects a company from a foreign government arbitrarily or wrongfully calling its performance bonds or letters of credit, which the insured company must put up to do business in that foreign country. It also protects a company in the event that a political event, such as a war, stops it from fulfilling its contract and the government rightly calls its bonds.
Currency Inconvertibility – protects investors if local currency cannon be converted into hard currency or if investors are prevented from transferring funds from the host country.
Deprivation – protects a company in the event that a foreign country refuses or revokes an exporting license.
Forced Abandonment – protects a company with investments in a foreign country in the event that the foreign country makes it abandon its investment.
Forced Divestiture – protects a U.S. company with foreign investment in the even that U.S. government orders it to divest itself from the foreign country.
Third-Party Blockage – protects a company with international investments from any third-party sovereign nation threatening military force that prevents the insured from removing insured assets from the host company.
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