#1
May 2nd, 2016, 12:41 PM
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Role of ECGC in Export
Hello, I want to know the details of the role of the Export Credit Guarantee Corporation of India in export.
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#2
May 2nd, 2016, 12:42 PM
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Re: Role of ECGC in Export
Hello, here I am providing you the details of the role of the Export Credit Guarantee Corporation of India in export as under: Export Credit Guarantee Corporation of India The ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a company wholly owned by the Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce. Help in exports: 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 debt Provides information on credit-worthiness of overseas buyers Work of ECGC: Provides a range of credit risk insurance covers to exporters against loss in export of goods and services as well. 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 and advances. Notable Records Largest Policy – short term Rs.450 crores Largest database on buyers 8 lakhs Largest credit limit Rs.80 Crores Largest claim paid Rs.120 crores Quickest claim paid 2 days Highest compensation-Iraq Rs 788 Crores |
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