The Export Credit Policy specifies a minimum period of time after which loss is ascertained to indemnify a claim for loss. This particular point of time is known as the “date of ascertainment of loss” which must be reached before any claim is paid.

– Copy of the sales contract

– Sales invoices

– Proof of debt/non-payment of sales proceeds

– Proof of dispatching goods

– Proof of insolvency if applicable

– Documentation outlining the action you have taken to collect the overdue amount

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.

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.

Notification of all payments not received within two months of their due dates should be sent to the Agency on the Overdue Declaration Form. The declaration should be sent on or before the 10th of every month.