ECGC Insurance

Will you please share with me the details of Export Credit Guarantee Corporation of India of Export Credit Insurance For Banks Individual Post -Shipment (ECIB -INPS)?

[Quick Sam]

As you want to get the details of Export Credit Guarantee Corporation of India of Export Credit Insurance For Banks Individual Post -Shipment (ECIB -INPS) so here is the information of the same for you:

Eligibility:
Any bank or financial institution who is an authorized dealer in foreign exchange can obtain the Individual Post-shipment Export Credit Cover in respect of its exporter client who is holding the appropriate Comprehensive Risks Policy of ECGC but with specific exclusions.

Period Of Cover:
12 months

Eligible Advances:
All post-shipment advances given through purchase, negotiation or discount of export bills or advances against bills sent on collection.

Protection Offered
Against losses that may be incurred in extending post-shipment advances due to protracted default or insolvency of the exporter-client.

Percentage Of Cover:
75% for advances against bills drawn on buyers other than associates. 60% for advances against bills drawn on associates provided relevant shipments are covered for comprehensive risks.

Premium:
9 paise per Rs.100 p.m. payable on the highest amount outstanding on any day during the month.

Maximum Liability:
75% of the Post-shipment Limit sanctioned to the account.

Highlights:
Bank can take the cover selectively.

Contact Details:
Export Credit Guarantee Corporation of India
Express Towers,10th Floor, Nariman Point
Nariman Point
Mumbai,
Maharashtra 400 021
India

Map Location:
[MAP]Export Credit Guarantee Corporation of India Maharashtra[/MAP]

[sumit]

The ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce.

It was transformed into Export Credit and Guarantee Corporation Limited (ECGC) in 1964 and to Export Credit Guarantee Corporation of India in 1983.


Facilities by ECGC

Offers insurance protection to exporters against payment risks

Provides guidance in export-related activities

Makes available information on different countries with its own credit ratings

Makes it easy to obtain export finance from banks/financial institutions

Assists exporters in recovering bad debt

Provides information on credit-worthiness of overseas buyers


Address :

Express Tower, 10thFloor, P.B.No. 373,
Nariman Point, MUMBAI-400021.
Telephone : (022) 6659 0500, (022) 6659 0510.
Fax : (022)6659 0517/0546
e-mail : webmaster@ecgc.in