- Cover is available for political risks and comprehensive risks
- Up to 80% loss is covered
- Cover is available if war takes place in between India and the country where overseas party is located
- If civil war,rebellion, revolution other disturbances takes place in the overseas country of the party.
Most Popular Policies of Export Credit Guarantee Corporation
- Lines of credit cover
This type of covers are available as agreements and offer protection to lending banks from risks of non-payment
Key features of lines of credit cover
- Buyer Credit Cover Policy
It covers the credit that a bank in India extends to an overseas buyer to pay for machinery and equipment from India.
Key features of buyer credit cover policy
- This policy cover is required to ensure safety for lending banks and exporters
- Coverage available for political risk
- Commercial risks are covered as well
- 20% of premium needs to be paid in advance
- Transfer Guarantee Insurance Cover
The Transfer Guarantee cover offers protection to banks in India against financial losses due to various risks.
Key features of Transfer Guarantee Insurance Cover
- 90% coverage available in case of political loss
- 75% coverage available in case of commercial loss
- Proper and fast claim process available
- Premium depends on the country where goods are export and the tenor of Letter of Credit.
- Overseas Investment Insurance Plan
This cover is designed to provide protection for Indian Investments made in abroad.
Key features of Overseas Investment Insurance Plan
- 90% political loss is covered
- Coverage is effective for 15 days
- Up to 20 years of expansion available
- Premium reduces if coverage for loss is reduced
Export Credit Guarantee Corporation Company
Export Credit Guarantee Corporation Company (ECGC) is an eminent provider of export credit insurance services. Since there are several risks involved in an export trade, credit insurance helps exporters minimize financial damage. Being a Government of India Enterprise, ECGC is wholly controlled by the Ministry of Commerce. The government-owned insurance body is managed by a Board of Directors consisting of representatives of the banking, insurance, Government, exporting community and Reserve Bank of India. It has been ranked as one of the largest credit insurance provider.
The paid-up capital of ECGC is Rs. 1000 crores while the authorized capital is Rs. 5000 crores. It was established in July, 1957 when the exporters in India started experiencing monetary losses as a result of bankruptcy of foreign buyers. The credit insurance facilities of ECGC extend to several banks and financial institutions across India. The Export Credit Guarantee Corporation Company has the highest record of quick claim settlements.
List of Plans from Export Credit Guarantee Corporation Company
Contact Details Export Credit Guarantee Corporation Company:
Express Towers, 10th Floor,
Nariman Point, Mumbai – 400021 (India)
Phone: +91 (022) 66590500 – 510
Fax: +91 (022) 66590517, 66590546