New perspectives of exporting the Rostselmash machinery
The Rostselmash Company concluded the credit complex insurance contract with Export Insurance Agency of Russia (EKSAR). Due to the insurance, the foreign buyers receive the payment delay, and the Russian exporter — protection from non-payment risk from the side of the foreign buyer on commercial and political risks.
The experience shows that commercial financial institutes are not ready to take the considerable part of risks connected with supporting the national export. The reason is high level of commercial and political risks, difficulties of their controlling, as well as cost-based mechanism of realization and low level of profitability. These risks are taken by the state by settling exporting credit agencies.
Since 2010, EKSAR deals in the field of national export insurance and forming of its financing in Russia.
The Rostselmash Company was one of the first industrial enterprises, which concluded export credit complex insurance contract with EKSAR. The achieved agreement directed to supporting the export projects is the first step of cooperation between the largest manufacturer of agricultural materiel and the state agency.
Within the frames of this agreement, EKSAR will perform insurance of commercial and political risks for foreign buyers of the Rostselmash agricultural machinery.
The important moment for foreign buyers of the Rostselmash machines is that fact, that they get the payment delay. The export of materiel from the territory of the Russian Federation is carried out after the initial advance payment is settled. Then, the customer has a delay for payment the residual amount under export contract.
The first export contracts for purchasing of six Rostsemash harvesters were insured by EKSAR for Kazakh customers. The farm managers selected the mostly demanded harvester models in the Republic: VECTOR 410, NIVA EFFECT, and DON 680M.
— Conclusion the contract with EKSAR was the important event, which will allow increasing export and satisfying the needs of foreign agrarians in agricultural materiel. The importance of the agreement signed between Rostselmash and EKSAR is very great in conditions of developing the trade-economical integration and improving the exporting direction. Signing the contracts localized in Kazakhstan is only the first step in long and fruitful work, because the Rostselmash products is sold to more than 20 countries today, — commented Alexei Moshnenko, Marketing Director of the Rostselmash Company. — It should be noticed, that EKSAR is unique insurance agency, which allow the Russian enterprises to perform export deliveries on such conditions, which equalize the abilities of the Russian enterprises in comparison with foreign manufacturers in the territory of the RF and abroad.
The Rostselmash Group of Companies is included into five largest world manufacturers of agricultural materiel. The Group of Companies includes 13 enterprises. The production facilities are situated in the territories of Canada, Russia, USA, Ukraine and Kazakhstan. The Rostselmash product line comprises 24 types of agricultural materiel, and more than 150 models and modifications. The Rostselmash machinery is the selection of customers in 26 countries of the world. The branched dealer network guarantees operative servicing all over the world.
Export Insurance Agency of Russia (EKSAR) PLC was established in October 2011. The EKSAR target is support of Russian export by means of insurance of commercial and political risks of export credits, as well as insurance of Russian investments abroad from political risks. The only EKSAR shareholder is state corporation Bank for development of foreign economic activity (Vnesheconombank). Authorized capital of the agency comprises 30 billion rubles.