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ECGC Slide Share
ECGC Slide Share
Presented By Saumil Joshi (97) Shipra (98) Sneha Sadani (100) Terry Rae (101) Vivek Khatri (102) Ambika Negi (103) Ankita Chhajlani (104) Kisan Agarwal (106) Suyog Manwatkar (107)
What is ECGC?
Export Credit Guarantee Corporation of
India Limited. Established in the year 1957 by the Government of India. An export promotion organization which functions under Ministry of Commerce & Industry, Department of Commerce, Government of India.
ABOUT ECGC
Fifth largest credit insurer of the world in terms of coverage of national exports. The present paid-up capital of the company is Rs.800 crores.
Functions of ECGC
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.
Coup or insurrection
Risk Of Insolvency
ECGC Policies
Special Schemes
Standard Policy
For short term shipments (180 Days)
Specific Policy
For exports under Deferred Payments, Project Exports, Service exports
(Transfer Guarantee ) To protect Banks Issuing L/C, Confirming L/C, Insurance Cover, Line of Credit, Overseas Investment Insurance & Exchange Fluctuation Risk Insurance
Standard Policy-Products
Small Exporters Policy Period of Policy: Twelve months as against 24 months in the case of Standard Policy. Minimum Premium: Premium payable will be determined on the basis of projected exports on an annual basis subject to a minimum premium of Rs. 2000/- for the policy period
Guarantees to Banks
Packing Credit Guarantee
It helps the exporter to obtain better facilities from their bankers. The Guarantees assure the banks that, in the event of an exporter failing to discharge his liabilities to the bank, ECGC would make good a major portion of the bank's loss. The bank is required to be co-insurer to the extent of the remaining loss
Special schemes
Transfer Guarantee Overseas Investment Guarantee Exchange Fluctuation Risk Cover
A statement to be submitted to the ECGC Every month along with last months Statements & the monthly insurance Premium cheque (mandatory)
The list of exports also includes the value of export Shipments & insurance premium to be paid
Contd
Application is to be made to ECGC in case of non- receipt of payment within 4 months from the due date Documents required as proof
E-mails Faxes Reminders sent through banking channel
In case of suspicion or fraud, ECGC can blacklist the importer or exporter
THANK YOU