Ecgc
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2012
while doing business of exporting,to secure the payment of buyer,how can ECGC can help ?
RAMESH KUMAR VERMA
(Expert)
06 February 2012
before getting ECGC service you will mandatory registration in ECGC .
Actually Export Credit Guarantee Corporation of India Limited was established in the year 1957 by the Government of India to strengthen the export promotion drive by covering the risk of exporting on credit.
Being essentially an export promotion organization, it functions under the administrative control of the Ministry of Commerce & Industry, Department of Commerce, Government of India. It is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, insurance and exporting community.
Actually ECGC HELPS of Exporters for :
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 to obtain export finance from banks/financial institutions
Assists exporters in recovering bad debts
Provides information on credit-worthiness of overseas buyers
ECGC take risks. & paid a substantial amount of the premium back in claims. This means that ECGC grant credit limits on buyers who are not necessarily AAA rated. Obviously ECGC do not have the urge to take credit limits on buyers who are very likely to become insolvent or who have a record of non-payment. As a claim will affect your result.
ANY QUERY:
webmaster@ecgc.in
Actually Export Credit Guarantee Corporation of India Limited was established in the year 1957 by the Government of India to strengthen the export promotion drive by covering the risk of exporting on credit.
Being essentially an export promotion organization, it functions under the administrative control of the Ministry of Commerce & Industry, Department of Commerce, Government of India. It is managed by a Board of Directors comprising representatives of the Government, Reserve Bank of India, banking, insurance and exporting community.
Actually ECGC HELPS of Exporters for :
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 to obtain export finance from banks/financial institutions
Assists exporters in recovering bad debts
Provides information on credit-worthiness of overseas buyers
ECGC take risks. & paid a substantial amount of the premium back in claims. This means that ECGC grant credit limits on buyers who are not necessarily AAA rated. Obviously ECGC do not have the urge to take credit limits on buyers who are very likely to become insolvent or who have a record of non-payment. As a claim will affect your result.
ANY QUERY:
webmaster@ecgc.in
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