ECGC
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ECGC is a government-owned company that provides insurance against risks involved in export trade. It was established in 1957 as ERIC and renamed several times, taking on its current name ECGC Limited in 2014. It covers political risks like import restrictions or war, and commercial risks like buyer insolvency or default. ECGC plays a key role in export finance by providing credit insurance to banks and exporters. This enables exporters to obtain better financing terms. It also offers guidance, information, and support to exporters in recovering debts.
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Export Credit Guarantee Corporation of India
The document provides information on the Export Credit Guarantee Corporation of India (ECGC). It discusses that ECGC is a government owned enterprise that provides credit insurance facilities to exporters and banks in India. It offers various export credit risk insurance products to suit the requirements of Indian exporters and banks. Some of its main policies discussed are the contract policy, shipment policy, construction works policy, services policy, and overseas investment insurance. ECGC aims to promote and facilitate Indian exports through providing these insurance covers.
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This document defines and describes various types of entities involved in international trade from India. It explains that manufacturer exporters produce and export their own goods. Merchant exporters act as middlemen between Indian producers and foreign buyers. Export houses must be registered and hold an export certificate. Star trading houses and star export houses are recognized for high export performance. Other entities discussed include trading houses, canalizing agencies, state export corporations, export consortia, and government trading corporations.
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- The EXIM Bank of India was established in 1982 through an act of parliament to enhance India's foreign trade and competitiveness in global markets (3 sentences)
- It aims to provide financial assistance and export credit services to Indian exporters and importers through various groups that support corporate banking, project finance, trade finance, export services, export marketing, and other support services.
- EXIM Bank is managed by a board of directors representing the government, RBI, public sector banks, and business community to fulfill its objectives of promoting India's international trade and financing medium-long term export activities.
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The document provides information on the Export Credit Guarantee Corporation of India (ECGC). It discusses that ECGC is a government owned enterprise that provides credit insurance facilities to exporters and banks in India. It offers various export credit risk insurance products to suit the requirements of Indian exporters and banks. Some of its main policies discussed are the contract policy, shipment policy, construction works policy, services policy, and overseas investment insurance. ECGC aims to promote and facilitate Indian exports through providing these insurance covers.
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Export procedure
The document outlines the 5 main stages of the export procedure in India:
1. Registration which involves registering the business and obtaining necessary licenses and certifications.
2. Pre-shipment procedures such as finding buyers, obtaining orders, and arranging financing and production.
3. Shipment which includes booking cargo space, transporting goods to ports, and completing customs clearance.
4. Realizing export incentives provided by the Indian government such as duty exemptions and financing.
5. Post-shipment including submitting shipping documents, negotiating payments, and processing forms.
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Export finance provides short-term and long-term financing to exporters. Short-term pre-shipment financing covers expenses before goods are shipped such as raw materials and production, while post-shipment financing bridges the time until payment is received from overseas buyers. Banks provide various types of export financing including cash loans, advances against letters of credit or export orders, and discounted export bills. Government schemes also aim to promote exports through concessional financing such as foreign currency pre-shipment credit and financing for rupee project export contract expenditures.
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FUNCTIONS OF EXIM BANK
- The EXIM Bank of India was established in 1982 through an act of parliament to enhance India's foreign trade and competitiveness in global markets (3 sentences)
- It aims to provide financial assistance and export credit services to Indian exporters and importers through various groups that support corporate banking, project finance, trade finance, export services, export marketing, and other support services.
- EXIM Bank is managed by a board of directors representing the government, RBI, public sector banks, and business community to fulfill its objectives of promoting India's international trade and financing medium-long term export activities.
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This document provides an overview of pre-shipment and post-shipment export finance in India. It discusses the different stages and types of export finance, including packing credit, advances against payments and bills. It also outlines guidelines from the RBI and ECGC on providing export credit, the roles of these organizations, and financing options for software exports.
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1) The document outlines the 8-step procedure for importing goods into India, including obtaining an import license, procuring foreign exchange, placing orders, obtaining shipping documents, clearing customs, and making payment.
2) Key steps include obtaining an import license depending on the importer category, applying to exchange banks to release foreign currency, dispatching letters of credit to exporters, collecting shipping documents from exporters, and completing customs formalities and payments.
3) Importers must follow strict regulations set by the government and Reserve Bank of India regarding licenses, foreign exchange, customs, and payments for imported goods.
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This document discusses export financing provided by Indian banks and institutions. It describes pre-shipment and post-shipment financing for exporters. Pre-shipment financing provides working capital to enable exporters to procure materials and pack goods for export. It is provided for up to 270 days at interest rates linked to the prime lending rate. Post-shipment financing is available after goods are shipped and finances export receivables until proceeds are received, for up to 6 months at concessional rates. The Export-Import Bank of India, commercial banks, and Export Credit Guarantee Corporation provide various export financing options.
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The document discusses export financing provided by banks and EXIM Bank in India. It outlines various pre-shipment and post-shipment financing options available to exporters, including pre-shipment credit, post-shipment credit, supplier's credit, and buyer's credit. It also discusses working capital financing, term loans, project financing, and other facilities provided by EXIM Bank and commercial banks to support exports.
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This document discusses export promotion measures and schemes in India. It defines export as goods produced in one country and shipped to another for sale or trade. The major objective of export promotion programs is to create awareness about exports and their importance for economic growth and market expansion. Various schemes aim to earn foreign exchange, motivate exporting, promote Indian exporters' interests, and correct unfavorable trade balances. The document outlines specific export promotion schemes and measures to improve access to information, foster collaboration, and develop infrastructure like ports to boost exports.
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The document describes various principal and auxiliary documents used in export transactions. Principal documents include commercial invoice, packing list, bill of lading, certificate of inspection, certificate of origin, bill of exchange, shipment advice, and insurance certificate. Auxiliary documents provide supplementary information and include proforma invoice, intimation for inspection, shipping instructions, insurance declaration, and application for certificate of origin.
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This document discusses foreign exchange quotations and methods of quoting exchange rates. It explains that exchange rates quote a fixed unit of foreign currency against a variable amount of the domestic currency. There are two main types of quotes - direct quotes which give the price of foreign currency in terms of the domestic currency, and indirect quotes which give the price of the domestic currency in terms of foreign currency. Some key points covered include that exchange rates can be quoted for spot transactions settling in 2 days or for future dates, and cross rates quote the price of one non-domestic currency in terms of another non-domestic currency.
Types of importers 1
There are three types of importers:
1. Established importers imported goods during a basic period and can apply for a quota certificate specifying the quantity and value of goods they can import, providing documentation of past imports.
2. Actual importers import goods for their own industrial use and must obtain a license through a sponsoring authority certifying their requirements.
3. Registered importers importing under export promotion schemes obtain licenses from the Chief Controller of Exports and Imports.
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Role of ecgc in export finance
ECGC is a government-owned company that provides export credit insurance to exporters in India. It was established in 1957 to strengthen export promotion and covers political and commercial risks that exporters may face. ECGC plays an important role in export finance by providing credit insurance to banks and exporters, enabling exporters to obtain better financing terms. It covers various risks including payment risk and helps exporters manage risk and obtain information to support their international trade.
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The document discusses the structure and features of the foreign exchange market. It begins by defining foreign exchange and describing the major participants in the exchange market, including commercial banks, money changers, and the Foreign Exchange Dealers Association of India (FEDAI). It then outlines the roles and regulations of various authorized entities that can participate in the market, such as authorized dealers and restricted authorized dealers. Finally, it discusses key characteristics of the foreign exchange market, including that it is a 24-hour global market connected by communication channels with a daily turnover of $2.75-3 trillion.
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1.Introduction
2.Evolution
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4. Functions
5. Present scenario
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Pre & post_shipment_finance[1]
This document provides an overview of pre-shipment and post-shipment export finance in India. It discusses the different stages and types of export finance, including packing credit, advances against payments and bills. It also outlines guidelines from the RBI and ECGC on providing export credit, the roles of these organizations, and financing options for software exports.
ADR and GDR
This document provides an overview of American Depository Receipts (ADRs) and Global Depository Receipts (GDRs). It defines ADRs and GDRs, describes the process for issuing them, and outlines their key advantages. It also differentiates between types of ADRs/GDRs, levels of ADR programs, and provides examples of Indian companies that have issued ADRs and GDRs.
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International financing involves raising money from foreign sources for business activities. Key sources of international financing include depository receipts (like GDRs, ADRs, and IDRs), commercial banks, international agencies and development banks, and foreign currency convertible bonds. Depository receipts allow foreign companies to have their shares traded on a local stock exchange without leaving their home country. GDRs are issued abroad by Indian companies to raise funds in foreign currency and are listed on foreign exchanges, while ADRs are similar but issued only to American citizens and listed on US exchanges. Commercial banks provide crucial foreign currency loans for non-trade operations. Development agencies like the IFC and EXIM Bank of India fund various projects. FCC
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American Depository Receipts (ADRs) allow foreign companies to have their stock traded on American exchanges. ADRs represent ownership of shares in a foreign company and pay dividends in US dollars. They were introduced in 1927 to make it easier for American investors to buy shares of foreign companies without dealing with foreign market complexities like different currencies and trading times. ADRs are traded on major US exchanges like the NYSE and NASDAQ.
Import export procedures
1) The document outlines the 8-step procedure for importing goods into India, including obtaining an import license, procuring foreign exchange, placing orders, obtaining shipping documents, clearing customs, and making payment.
2) Key steps include obtaining an import license depending on the importer category, applying to exchange banks to release foreign currency, dispatching letters of credit to exporters, collecting shipping documents from exporters, and completing customs formalities and payments.
3) Importers must follow strict regulations set by the government and Reserve Bank of India regarding licenses, foreign exchange, customs, and payments for imported goods.
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This document discusses export financing provided by Indian banks and institutions. It describes pre-shipment and post-shipment financing for exporters. Pre-shipment financing provides working capital to enable exporters to procure materials and pack goods for export. It is provided for up to 270 days at interest rates linked to the prime lending rate. Post-shipment financing is available after goods are shipped and finances export receivables until proceeds are received, for up to 6 months at concessional rates. The Export-Import Bank of India, commercial banks, and Export Credit Guarantee Corporation provide various export financing options.
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The document discusses export financing provided by banks and EXIM Bank in India. It outlines various pre-shipment and post-shipment financing options available to exporters, including pre-shipment credit, post-shipment credit, supplier's credit, and buyer's credit. It also discusses working capital financing, term loans, project financing, and other facilities provided by EXIM Bank and commercial banks to support exports.
Export promo measures and schemes
This document discusses export promotion measures and schemes in India. It defines export as goods produced in one country and shipped to another for sale or trade. The major objective of export promotion programs is to create awareness about exports and their importance for economic growth and market expansion. Various schemes aim to earn foreign exchange, motivate exporting, promote Indian exporters' interests, and correct unfavorable trade balances. The document outlines specific export promotion schemes and measures to improve access to information, foster collaboration, and develop infrastructure like ports to boost exports.
Documents required for exports in India
The document describes various principal and auxiliary documents used in export transactions. Principal documents include commercial invoice, packing list, bill of lading, certificate of inspection, certificate of origin, bill of exchange, shipment advice, and insurance certificate. Auxiliary documents provide supplementary information and include proforma invoice, intimation for inspection, shipping instructions, insurance declaration, and application for certificate of origin.
Functions of foreign exchange market
The foreign exchange market facilitates the conversion of one currency into another, allowing for the transfer of purchasing power between countries. It provides credit for international trade by enabling payments over a three month period. Additionally, the market allows participants to hedge against foreign exchange risk through forward contracts that set the exchange rate for a future transaction.
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Foreign Exchange Quotation – Direct & Indirect
This document discusses foreign exchange quotations and methods of quoting exchange rates. It explains that exchange rates quote a fixed unit of foreign currency against a variable amount of the domestic currency. There are two main types of quotes - direct quotes which give the price of foreign currency in terms of the domestic currency, and indirect quotes which give the price of the domestic currency in terms of foreign currency. Some key points covered include that exchange rates can be quoted for spot transactions settling in 2 days or for future dates, and cross rates quote the price of one non-domestic currency in terms of another non-domestic currency.
Types of importers 1
There are three types of importers:
1. Established importers imported goods during a basic period and can apply for a quota certificate specifying the quantity and value of goods they can import, providing documentation of past imports.
2. Actual importers import goods for their own industrial use and must obtain a license through a sponsoring authority certifying their requirements.
3. Registered importers importing under export promotion schemes obtain licenses from the Chief Controller of Exports and Imports.
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The Export Credit Guarantee Corporation of India was established in 1957 by the Government of India to promote exports by providing credit insurance. It is managed by a board representing government, RBI, banks, insurers and exporters. ECGC provides various types of credit risk insurance to exporters against losses from political and commercial risks, and facilitates their access to export financing.
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Ecgc Final
ECGC is India's export credit insurer that was established in 1957. It provides credit insurance and guarantees to Indian exporters against losses from payment defaults. ECGC offers various policies like specific, standard, and turnover policies that insure exporters against risks like foreign buyer default, political upheaval, and currency fluctuations. It also provides guarantees to banks to enable exporters to obtain better financing terms. To avail of ECGC's services, exporters must submit an application along with documents and pay initial and monthly premiums.
Export Credit Guarantee Corporation of India (ECGC)
The ECGC Limited is a government enterprise. It is under the ownership of the Ministry of Commerce and Industry, Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters.
Credit risk management
This document provides information about export credit and the Export Credit Guarantee Corporation of India (ECGC). It discusses the risks involved in export credit, defines ECGC and its role in providing credit insurance to exporters and banks in India. It outlines the functions, objectives, policies and schemes of ECGC, including key policies like contract, shipment, services and construction works policies as well as overseas investment insurance. The document aims to explain how ECGC helps exporters by offering various insurance covers and credit risk management services.
Foreign trade promotion in india
The document summarizes various Indian organizations that promote foreign trade and exports:
- ITPO holds international trade fairs in India and has trade centers in major cities to facilitate business meetings and conferences. IIFT is a prestigious business school focused on foreign trade education and research. ICA and FIEO represent traders and exporters respectively.
- EIC, ECGC, and SMERA help Indian companies with quality inspection, export credit insurance, ratings, and financing. CGTMSE provides credit guarantees for MSME loans. DGFT regulates and promotes India's foreign trade.
What is ecgc
ECGC was established in 1957 to provide credit insurance and financial support to Indian exporters. It is owned by the government and offers various guarantees and insurance products to exporters and banks to facilitate exports. These include guarantees for packing credit, export production financing, post-shipment credit, and more. ECGC also provides information to help exporters with market research, recovering debts, and ensuring payment. Recently it introduced a non-recourse maturity export factoring scheme to provide working capital financing to exporters based on their receivables.
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Risk covering documents for export and import business (International business)
Risk covering documents for export and import business (International business)
Export Credit Guarantee Corporation of India (ECGC)
Export Credit Guarantee Corporation of India (ECGC)
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ECGC
- 2. Points to be argued § What is “ ECGC ”? § Brief History § Risk Covered under ECGC § Role of ECGC in Export Finance § Risk Management in Exports
- 3. ECGC • A company which provides cover to exporters against many kind of risks. • Owned by Govt. of India • Head office in Mumbai, Maharashtra and branches all over the country. • Formerly known as Export Credit Guarantee Corporation of India Ltd. (until Aug 2014)
- 4. Brief History Set up on 31.07.1957 1957 – Export Risks Insurance Corporation [ERIC] 1964 – Export Credit & Guarantee Corporation Limited [ECGC] 1983 – Export Credit Guarantee Corporation of India Limited 2014 – ECGC Limited
- 5. RISKS COVERED - L/C Opening Bank Risks - Political Risks - Commercial Risks POLITICAL RISKS – Import Restrictions – War/ Civil war/ Revolution – Additional Freight or Insurance charges – Any other cause attributable to other country. COMMERCIAL RISKS • Insolvency of the buyer • Protracted default of the buyer • Buyer’s failure to accept the goods
- 7. Role of ECGC in Export Finance – Providing export credit insurance covers to Banks & FI’s to enable exporters obtain better facilities from them. – Providing export credit insurance covers to Exporters against loss in export of goods as well as services under many different policies – 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 and advances.
- 8. – 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 for exporters to obtain export finance from banks/financial institutions – Assists exporters in recovering bad debt – Provides information on credit-worthiness of overseas buyers
- 9. Present Scenario – ECGC is the fifth largest credit insurer of the world in terms of coverage of national exports. – The present paid-up capital of the company is Rs.1000 crores and authorized capital Rs.5000 crores. – First overseas office of ECGC in London on September 17, 2013. – ECGC has achieved a magical milestone of Rs.1000 Crores of premium income
- 12. Conclusion The ECGC helps by providing insurance cover in respect of risks in export trade. These risk may include loss of money on account of foreign buyer becoming bankrupt or sudden import or exchange restrictions resulting in stopping of payments etc..