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insurance or supplier credit insurance assigned to a financial institution. For SERV’s security, the financial institution granting the export credit must assign its claim against the foreign debtor to [...] guarantees are always issued in combination with Buyer Credit Insurance or supplier credit insurance assigned to a bank. It thus covers the risk that the financial institution that provided the export credit [...] the issue of a refinancing guarantee is that the financial institution granting the export credit assigns the principal claims and the ancillary claims to SERV by way of security plus corresponding collateral

guarantee is issued shall apply to premiums and any reimbursement of premiums paid. 10 Assignment 10.1 The assignment of the claim under the counter guarantee shall be subject to the consent of SERV. SERV [...] expiry of the contract bond; 2.3.2 if the claims under the counter guarantee or the contract bond are assigned without the consent of SERV; 2.3.3 if a risk aggravating amendment to the contract bond has been [...] collateral exists for the claims for cover, the f inancial institution which issuing the bond shall assign to SERV the claim for cover including any and all ancillary rights to the extent of the payment made

can be assigned? The claims under the export contract must be assignable, rather than the export contract itself. This serves as security for the financial institution. When concluding the assignment agreement

reimbursement of premiums paid. 16 Assignment of the Insured Claim 16.1 The insured claim may only be assigned together with the claims from the insurance. The assignment is subject to the consent of SERV [...] insured claim; or 2.4.2 if an insured claim or the claims to compensation under the insurance are assigned without the consent of SERV. 3 Insured Risks The insurance shall cover the risk that an insured [...] transaction and the exporter’s indemnity claims under the related export risk insurance policies assigned to it at least in the amount of the working capital loan. 12.4 The policyholder shall ensure that

reimbursement of premiums paid. 17 Assignment of the Insured Claim 17.1 The insured claim may only be assigned together with the claims f rom the insurance. The assignment is subject to the consent of SERV [...] letter of credit against the issuing bank that the policyholder gained by way of legally ef fective assignment f rom the exporter, if the policyholder has silently conf irmed the letter of credit for the benef [...] insured claim; or 2.4.2 if an insured claim or the claims to compensation under the insurance are assigned without the consent of SERV. 3 Insured Risks 3.1 Political Risk 3.1.1 The insurance covers the risk

granted shall apply to premiums and any reimbursement of premiums paid. 16 Assignment of Claims under the Insurance 16.1 Any assignment of claims under the insurance shall require consent f rom SERV. SERV may [...] prior to its expiry; or 2.4.3 if the claims under the insurance or rights to the insured item are assigned without the consent of SERV. 3 Insured Risks 3.1 Political Risk 3.1.1 The insurance covers the risk [...] conditions. 16.2 The legal relations between SERV and the policyholder shall remain unaf fected by the assignment. General Terms and Conditions – Confiscation Risk Insurance Swiss Export Risk Insurance SERV |

reimbursement of premiums paid. 17 Assignment of the Insured Claim 17.1 The insured claim may only be assigned together with the claims f rom the insurance. The assignment is subject to the consent of SERV [...] ilment of the insured claim; or 2.6.2 if an insured claim or the claims under the insurance are assigned without the consent of SERV. 3 Insured Risks 3.1 Political Risk 3.1.1 The insurance covers the risk [...] conditions. 17.2 The legal relations between SERV and the policyholder shall remain unaf fected by the assignment. 18 Termination of the Insurance 18.1 SERV may terminate the insurance if 18.1.1 the policyholder

Zurich +41 58 551 55 55 | info@serv-ch.com | www.serv-ch.com Page 7 of 8 16 Assignment of Claims under the Insurance 16.1 Any assignment of claims under the insurance shall require consent f rom SERV. SERV may [...] 4.2 if the claims to compensation under the insurance or the claims under the contract bond are assigned without the consent of SERV. 3 Insured Risks 3.1 Political Risk 3.1.1 The insurance covers the risk [...] conditions. 16.2 The legal relations between SERV and the policyholder shall remain unaf fected by the assignment. 17 Termination of the Insurance 17.1 SERV may terminate the insurance if 17.1.1 the policyholder

reimbursement of premiums paid. 17 Assignment of the Insured Claim 17.1 The insured claim may only be assigned together with the claims under the insurance. The assignment is subject to the consent of SERV [...] ilment of the insured claim; or 2.7.2 if an insured claim or the claims under the insurance are assigned without the consent of SERV. 3 Insured Risks 3.1 Political Risk 3.1.1 The insurance covers the risk [...] conditions. 17.2 The legal relations between SERV and the policyholder shall remain unaf fected by the assignment. 18 Termination of the Insurance 18.1 SERV may terminate the insurance if 18.1.1 the policyholder

against the financial institution opening the letter of credit and acquired through legally valid assignment, if the financial institution confirming the letter of credit has silently confirmed the letter