#1
6th April 2016, 10:55 AM
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Ipcg ecgc
Hello can anyone provide me the detail of Individual Packing Credit - (INPC) program of ECGC ??
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#2
6th April 2016, 10:56 AM
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Re: Ipcg ecgc
Here is the detail of Individual Packing Credit - (INPC) program of ECGC Individual Packing Credit - (INPC) Export Credit Insurance Packing Credit Eligibility: Packing credit cover can be obtained by the bank that provides advances/credit facilities to the exporters for the purposes of manufacturing, processing, purchasing and/ or packing of goods granted by banks to exporters who enter into contracts for export of examines or undertaking construction works abroad. The cover gives protection to the banks against losses suffered on account of non payment of advances/credit facilities due to insolvency and/ or default of the borrower exporter. Period Of Cover: 12 months Eligible Advances: All packing credit advances as per RBI guidelines. Risk Covered: Protracted default or insolvency of the exporter-client. Percentage Of Cover: 75% Premium: 0.12% on the highest amount outstanding on any day during the month. Maximum Liability: 75% of the Packing Credit Limit sanctioned to the account being covered. Important Obligation of The Bank:- Obtain cover for each project unconnectedly. Maintain advance deposit equivalent to one month’s premium. Submission of monthly declaration of advances granted and repayments made in the account and payment of due best on or before 10th of the succeeding month. Approval of the Corporation for extension of due date. Default to be reported within 4 months from due date or widened due date of advances. If not recovered, filing of claim within 6 months of the Report of Default. Recovery action after payment of claim and sharing of recovery. Here is contact address ECGC Registered Office Express Towers,10th Floor, Nariman Point, Mumbai - 400 021. Tel : 6659 0500 / 6659 0510 Fax : (022) 6659 0517 / 0546 E-Mail : webmaster@ecgc.in |