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Consumer Notification
At AIG Canada, we are vigilant of any misrepresentation of our name and services. Please be advised that AIG does not offer insurance coverage for wire transfers or other types of electronic fund transfer methods.
Anyone who receives or has purchased an alleged AIG branded policy purporting to insure a wire transfer (or other types of electronic fund transfers), should contact local law enforcement and AIGCanadaOmbudsman@aig.com to report the matter.

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Overview

AIG’s Medium Term Trade Credit product provides protection for manufacturers and financial institutions against loss due to a customer or borrower’s non-payment for capital goods, machinery and related equipment sold on payment terms of up to five years.

Benefits

  • Protects the insured’s balance sheet and extended cash flow against the risk of a customer default.
  • Allows capital goods manufacturers to increase sales in highly-competitive markets by offering better financing terms to strategic customers.
  • Facilitates attractive financing options for the buyer and seller.
  • Helps manufacturers establish a presence in new foreign markets to increase export sales.
  • Viable alternative to cash in advance, bonds or letters of credit.

Coverage

  • Indemnifies the insured for loss caused by the failure of the obligor to pay the insured all or part of the financed value of the capital goods.
  • The policy period matches the repayment period, with the flexibility to attach coverage up to the obligor’s credit limit for all sales transacted within 12 months of policy inception.
  • Credit limits are non-cancellable for the life of the policy. Policies are typically “single-buyer”, written for a specific obligor, though multiple obligors may be included in one policy.
  • Premium is calculated using a rate applied to the amortizing balance of the financed value, and is usually payable in full at inception of the transaction.

Contact Us

If you have any questions about Medium Term Trade Credit Insurance or any other trade credit insurance product, please contact us at aigtradecreditcanada@aig.com

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