Provides a range of credit risk insurance covers to exporters against loss in export of goods and services.
Offers guarantees to banks and financial institutions to enable exporters to obtain better facilities from them.
Provides Overseas Investment Insurance to Indian companies investing in joint ventures abroad in the form of equity or loan.
Foreign buyer unable to pay Protracted Default of Buyers Risk Of Insolvency Balance of payment problems Coup or insurrection Outbreak of war or civil war Political & Economic changes Risk Associated With Exports
ECGC Policies Specific Policy For exports under Deferred Payments, Project Exports, Service exports Standard Policy For short term shipments (180 Days) Financial Guarantees to Banks For Giving credit to exporters Special Schemes ( Transfer Guarantee ) To protect Banks Issuing L/C, Confirming L/C, Insurance Cover, Line of Credit, Overseas Investment Insurance & Exchange Fluctuation Risk Insurance
Application Process: ECGC Application to the ECGC along With Rs. 10,000 as initial premium A statement to be submitted to the ECGC Every month along with last month’s Statements & the monthly insurance Premium cheque (mandatory) The list of exports also includes the value of export Shipments & insurance premium to be paid This is the general process to avail the services of ECGC