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Finance 21/09/2015 EXIAR insures supply of GAZ automobiles to Uzbekistan
EXIAR insures supply of GAZ automobiles to Uzbekistan
Tashkent, Uzbekistan (UzDaily.com) -- The Russian Agency for Export Credit and Investment Insurance (EXIAR) and Novikombank signed two confirmed letter of credit insurance contracts for the payment of exports of GAZ automobiles from Russia to Uzbekistan.

Under the agreements, EXIAR has insured confirmed letters of credit issued by Invest Finance Bank in favour of Commercial automobiles – GAZ Group on order of the Uzbek importers. Novikombank is confirming and financing bank.

Under the terms of the contracts, EXIAR insured loans issued to the Commercial automobiles – GAZ Group, AIR Business Consulting and Stayd. The agency provided insurance coverage to confirming bank against the risk of the issuing bank’s failure to pay indemnity.

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