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Old December 5th, 2015, 12:58 PM
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Default ECGC Scheme Risk Coverage

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  #2  
Old February 9th, 2018, 03:46 PM
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Default Re: ecgc scheme risk coverage

How many risk coverage schemes are launched by Export Credit Guarantee Corporation of India (ECGC)? I also want to know about policies of Export Credit Guarantee Corporation of India (ECGC). So tell me about risk coverage schemes and policies?
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Old February 9th, 2018, 03:47 PM
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Default Re: ecgc scheme risk coverage

The Export Credit Guarantee Corporation of India (ECGC) covers following risks:

COMMERCIAL RISKS
Protracted Default of buyer
Insolvency of buyer/LC opening bank
Repudiation by buyer

POLITICAL RISKS
War/civil war/revolutions
Any other cause attributable to importing country
Import restrictions
Exchange transfer delay/embargo

Products Offered to Export:
Standard Policy
Small Exporters policy
Export Turnover policy
Specific buyer wise policy
Global entity policy
Multi buyer exposure policy
IT enabled (single customer) policy
IT enabled (multi customer) policy
Customer specific policy (Tailor made)
Specific Shipment Policy (short term)
SME Policy
Consignment export policy
Single buyer exposure policy
Software project exports policy

POLICIES OF ECGC:
Shipments (Comprehensive Risks) Policy:
Whole Turnover principle- all exports covered
Policy Period - 2 years
Credit limit (Drawee wise) on all the buyers
Premium rates schedule issued with Policy
Selective options for LC/Associates/Consignments
Monthly declarations with premium due
No claim Bonus – every year 5% subject to maximum of 50%
Advance Premium subject to Minimum premium of Rs.10,000/-
90% cover

Small Exporters Policy:
Cover for Commercial risks 95% and Political risks 100%
Quarterly Declarations
Premium payment as per standard premium schedule attached to Policy
Export turnover not exceeding Rs.50 Lakhs per annum
No Claim bonus applicable
Policy Period - one year
Advance Premium subject to Minimum Premium Rs.2000/-

Export Turnover Policy:
Minimum anticipated Premium of Rs.10 Lakhs
Period of Policy- One year
Premium rates discounted by 20%
5% cash discount for upfront payment of full annual premium
Monthly or quarterly declaration as per exporter’s choice
Premium payable upfront or in Quarterly instalments based on anticipated exports
Higher Discretionary Limit of drawee wise limits on buyers (uptoRs100 lakhs for DP and Rs50 lakhs for DA)

Specific Shipment Policy (SSP):
Covering one shipment or One contract
Commercial / Political risks and L/C comprehensive risks covered
Submission of Shipment Statement and realisation report later
Processing fee of Rs.1000/-
Upfront premium before issue of Policy
80% cover
Premium higher than standard premium rates

Specific Buyer wise Policy:
Covering One buyer / One Bank
All shipments to buyer on Non LC terms or shipments under LC from bank covered
5% No Claim Bonus reduction on renewal
Period of cover - One year
Processing fee Rs.1000/-
Monthly or quarterly shipment statements
Quarterly/Annual premium payable upfront based on projected exports
80% cover

Buyer Exposure Policy:
Cover issued on exposure basis as opposed to turnover ( Exposure: Likely outstanding at any given point of time)
Cover is up to Exposure or the Loss limit (Credit Limit)
No monthly statements
Coverage is 80%
Selective cover for each buyer at exporter’s discretion
One time payment of premium on exposure
Annual statement of shipments at the end of Policy period on renewal
Premium payable either quarterly or annually on the loss limit
Processing fee Rs.1000/- on application
Single Premium rate based on country rating for Comprehensive risks/Political risks

Multi buyer exposure policy:
Cover on exposure as opposed to turnover and cover for more than 1 buyer
Processing Fee Rs.5000/- to accompany application
Minimum 10% of projected turnover will be fixed as Aggregate Loss Limit (ALL) which will be the Maximum Liability
Cover for each buyer is 10% of ALL as Single Loss Limit (SLL)
Upfront premium payable before issue or in quarterly instalments
5% No Claim Bonus reduction on renewal
Discretion to choose buyers for cover with exporter and shall be acceptable to ECGC
List of buyers to be given with proposal and any addition to be advised
Exporter can opt for higher exposure than 10% of turnover
Exporter to have access to ECGC website for checking defaulter buyer list.
Coverage is 80% and lower cover available with proportionate reduction of premium. Single premium rate irrespective of country grading

Export Credit Guarantee Corporation of India (ECGC) Policies:
pharmexcil.com/data/uploads/ECGC%20PRESENTATION.ppt
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