Political Risk Insurance: Contract Frustration


Definition of "Political risk insurance: contract frustration"

Pamela  DuBois real estate agent
Pamela DuBois, Real Estate Agent RE/MAX Realty Services

Insurance coverage that will indemnify the insured in the event a foreign government or company does not abide by the terms and conditions of the contract in such instances as:

  1. Exportation exporter incurs a loss because the buyer in a foreign country does not adhere to the contractual obligations.
  2. Deterioration and repudiation insured sells services to buyer who refuses to honor contractual obligations.
  3. Importation insured incurs a loss resulting from the nondelivery of products purchased and paid for in advance.
 

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