Turk Eximbank short term export credit insurance contract

The first chapter of the dissertation begins with an explanation of export, exporter and export credit insurance. Together with the substance, benefits and history of export credit insurance were put forward along with a detailed discussion of the legal characteristics of export credit insurance contract, peculiarity thereof, its classification among other insurance contracts, establishment, termination, parties and interested third parties therein. Since export credit insurance encompasses political risk insurance, this chapter also touches third parties and the notion of policyholder in political risk insurance. The second chapter contains a comparative analysis of the jumbo/big risk concept between foreign legislations and Turkish law, and also discusses insured benefit in export credit insurance as well as the scope of commercial and political risks. Such risks as stated in export credit insurance contracts are compared to Credit Insurance General Terms and Conditions and other relevant legal regulations. Political risks as they are featured in export credit insurance contracts or relevant legal regulations and the forms in which such risks to materialize may vary from the ways in which they are stated in political risk insurance. In addition, decisions concerning disputes involving political risks play a steering role in contract language and determining future practices. At the time of the completion of this dissertation, Export Credit Bank of Turkey (Türk Eximbank) launched preparations for its own political risk insurance. For the above mentioned reasons, political risks are added as a section to the political risk insurance contracts. Each individual risk is assessed in conjunction with the Turkish law, doctrinarian opinions, international precedent cases and insurance contracts. Lastly, conditions excluded in export credit insurance warranty coverage are listed. In the third chapter, the obligations and undertakings of insurer and poliyholder are discussed in a comparative fashion with respect to the Turkish Commercial Code, the German Insurance Contracts Act, the Principles of European Insurance Contracts Law and Credit Insurance General Terms and Conditions. Disputes arising in practice and courts' approaches are also observed. In the fourth and last chapter, grounds to terminate the export credit insurance contract, parties' choice of law and jurisdiction and statutory ceding are put forward.