Cancellation of an option

Definition : Decision which puts an end to an option previously agreed by the credit insurer. The cancellation followed:

• a serious incident
• a bankruptcy
• the degradation in the economic and politic situation of the country of the Buyer. Then, in this case, the cancellation decision is applied to the agreements as a whole issued in this country
• a decision based on credit insurer onw constraints like a cancellation of a line on a country or a sector