Claim Settlement Process

Claim Settlement Process

Process 1: Export Trade Credit Insurance Prospectus submitted by the entrusting Party.

If the report of loss or claim is delayed, CITIC reserves the right to reduce the proportion of compensation or even reject the claim. Therefore, please submit the Export Trade Credit Insurance Risk Description in time after the accident. The relevant period is as follows:
● Customer bankruptcy: within 8 working days from the due date
● Customer rejection: within 8 working days from the due date
● Malicious default: within 50 working days from the due date

Process 2: Submission of "Notice of Possible Loss" by Shandong Limaotong to Sinosure.

Process 3: After Sinosure accepts the loss, the entrusting party may choose the credit insurance company to recover the payment for goods or directly submit the Application for Claim for Compensation.

Process 4: Citic insurance filed a case for acceptance.

Process 5: Waiting for Sinosure investigation.

Process 6: Sinosure will pay for it.