ECGC Scheme PDF

My symbol of identification is Ram and I have a question what is ECGC and please give me ECGC Scheme in PDF format

ECGC was set up by the Government of India in 1957 to provide cost effective credit insurance covers to exporters and banks and to promote exports from the country. It functions under the administrative control of the Ministry Of Commerce.

It has evolved different credit insurance covers to suit the requirements of Indian Exporters and Commercial banks from time to time. The Corporation offers covers for short-term as well as medium and long-term exports which may involve export of capital goods on deferred payment terms, execution of turn-key projects, construction work contracts and/or rendering of services related thereto.

Specific Contract Policy can be obtained by exporters that have secured contract for Turnkey Projects, EPC contract or any other contract which involves supplies of capital goods and services for erection and commissioning of the project.

The cover provides protection against no receipt of payments due to commercial and/or political risks.

Risks Covered

Insolvency of Buyer
Protracted Default of Buyer
Buyer’s failure to accept goods

Political
War, Civil War, Revolutions in buyer’s country
New import restrictions
Transfer Delays

L C Opening Bank Risks
Insolvency
Default

Loss Coverage: 90%

Obligations:
Obtain indicative premium rate at bid stage.

Seek post awarded approval from AD/WG on award of contract.

Obtain in principle approval.

Seek cover after payment of premium.

Advise progress of project in accordance with PEM guidelines.

Declaration of overdue payments.

Filing of claim within 12 months from due date.

Sharing of recovery.

Highlights

Cover can be either for Political or Comprehensive Risks

Add on pre shipment risk cover can also be obtained

Cover for full insurable value including retention portion

Cover for third country exports as well

Premium in installments

Contact Detail
Export Credit Guarantee Corporation of India Limited
Head Office
Express Towers,10th Floor,
Nariman Point,
Mumbai - 400 021.
Tel: (022)6659 0500-0510
Fax: (022)6659 0517/0546
E-mail: webmaster@ecgc.in

Attached Files Available for Download

ECGC Scheme PDF.pdf (596.2 KB, 141 views)

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