The Export Credit Guarantee Corporation of India has been set up by the national Government of India and give banks and exporters in the country diverse export credit insurance plans. At present, with regards to coverage for national exports, Export Credit Guarantee Corporation occupies the seventh spot in the world. ECGC also provides a range of credit risk insurance covers to exporters against loss in export of goods and services. The products and services of the Export Credit Guarantee Corporation are available under three heads:. Following are the locations where the Export Credit Guarantee Corporation has its regional offices:.
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Objective and Function of ECGC
Product Country. It provides export credit insurance support to Indian exporters and is controlled by the Ministry of Commerce. Export Credit Insurance :. What Is Credit Insurance? Trade credit Insurance insures suppliers against the risk of non- payment of goods or services by their buyers This may be a buyer situated in the same country as the supplier Domestic Risk or A buyer situated in another country Exporter Risk.
Functions of Export Credit Guarantee Corporation of India
I have been getting many enquiries about the risk coverage on nonpayment of export proceeds by buyer like How to provide credit to the overseas buyer? Is credit extending to importer safe? How can an exporter provide credit to an un known buyer? What is the remedy to provide credit to an overseas importer? Is there any insurance to cover the risk of nonpayment of export goods value?