October 16, 2020 / DGFT

PROFESSIONAL UPDATE NOV 14,2015

PROFESSIONAL UPDATE

CREDIT RISK A credit risk is the risk of default on a debt that may arise from a borrower failing to make required payments. In the first resort, the risk is that of the lender and includes lost principal and interest, disruption to cash flows and increased collection costs.

From Today we will discuss about Export Credit Guarantee Commission of India Ltd. and various credit insurance policies offered by it.

Export Credit Guarantee Commission of India Ltd.

ECGC Ltd. was established in July, 1957 to strengthen the export promotion by covering the risk of exporting on credit. 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.
What Does ECGC do?

Provides a range of credit risk insurance covers to exporters against loss in export of goods and services.
Offers Export Credit Insurance for Bankers 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.

Services Provided by ECGC to Exporters

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.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional endeavors. For query or help, contact:info@caindelhiindia.com or call at 011-23343333

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