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Société Marocaine d'Assurance à l'Exportation (SMAEX) (SMAEX)

Key facts

  • Established in 1974
  • Ownership: Mixed
Not Part of the OECD Not part of the Berne Union

Latest update: 03/12/2021

Products

  • Personalized credit insurance
  • Simplified credit insurance
  • Medium-term credit insurance
  • Prospecting insurance

Personalized credit insurance


  • Covers the exporter against non-payment of debts due to commercial, political, catastrophic, and non-transfer risks
  • The policy is underwritten for a period of 1 year, and is renewable by tacit agreement
  • The exporter must declare outstanding payment within 1 month from the due date; the collection service assists with the recovery of the debt
    - Compensation occurs 3 to 6 months from the declaration of loss


Simplified credit insurance


  • Covers the exporter against non-payment of debts due to extended payment default and insolvency of the foreign buyer following a reorganization or liquidation
  • The policy is underwritten for a period of 1 year and is renewable by tacit agreement
  • A lump-sum premium, including investigation and subscription fees, is paid upon signing and renewal of the contract


Medium-term credit insurance


  • Exports of capital goods or carrying out of public work contracts, for contracts longer than 1 year
  • Buyer credits of a duration greater than 2 years: Protects the exporter against the risks of non-payment due to insolvency following a liquidation, deficiency of a private or public debtor, moratorium issued by the administrative authorities of this country, war or natural disaster, and political or administrative difficulties preventing or delaying the transfer of funds


Prospecting insurance


  • Guarantees an exporter looking for new market outlets the reimbursement of up to 50% of expenses incurred if the result of its actions proves to be unsuccessful or insufficient

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