IT-Enabled Services Policy-Single Customer (SITES)

IT-enabled Services (Single Customer) Policy would be given in respect of contracts for rendering service during a defined period with billing on the basis of service rendered during a period say, a week, a month or a quarter. One policy for one buyer shall be issued.

Period of Policy: 12 Months

Risks Covered:

  • Commercial Risk / Buyer Risk
  • Political Risk
  • L/C Opening Bank Risk

Percentage of Cover: 80%

Distinct Characteristics OF ITES Contracts:

  • Contract is for providing certain service during a defined period.
  • Billing for the service rendered at a pre-determined interval.
  • Where there is a non-payment problem, there can be certain services invoiced and accepted, certain services invoiced but not accepted and certain services rendered but yet to be invoiced.
  • No requirement of physical documentation as the process is carried out through electronic media.
  • Provision for correction in case of errors and omissions.
  • Filing of claim within 360 days from the due date of the export bill or 600 days from expiry date of the Policy Cover whichever is earlier.
  • The policy will be offered for contracts, which contain standard terms and conditions as per the norms and practices of the IT-enabled Services export industry.
  • Right to verify documents by the Corporation or by an authorized agency.


  • Protection is available upto the Loss Limit approved on the buyer under the Policy.
  • Premium is payable only on the Loss Limit approved on the buyer, irrespective of the shipments effected to the buyer.
  • Separate Policy per buyer.
  • No Claim Bonus (NCB) of 5% subject to no claim, upto a maximum of 50%.

To download the proposal form for ITES (Single Buyer) Policy, click here.

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