You can file your claim when you are aware of any adverse information which may affect the payment of your invoices related to credit insured sales. Our Claim and Recovery Department will provide all assistance to you to file a claim and recommend appropriate measures to minimize your losses.
What action should be taken by the exporter in case the buyer requests for extension of date of payment?
If a buyer who is not in a position to make payment on the due date of the export bill and requests additional time to settle the amount, the exporter should make good commercial judgment on the request of the buyer based on facts and circumstances of the case. If the exporter is convinced that extending the due date of the bill is the proper course of action, then the exporter should seek the approval from Credit Oman of Oman giving in details the reasons justifying such extension.
If the buyer raises any disputes regarding quality of goods exported, the claim for the resultant loss will be considered once the disputes are settled amicably by the exporter with the buyer or the exporter obtains judgment in his favour from the court of law in the buyer country.
Where payments are not realized due to exchange transfer delay, claims can be filed with the Agency after six months from the date on which the buyer has, after making the payment in local currency, completed exchange control formalities necessary for the transfer of funds to Oman. Where the Agency has stipulated a longer waiting period, claims can be filed only after completion of such period.