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General Insurance ‧ Manufacturers and Exporters Insurance

Export Credit Insurance

Manufacturers and Exporters Insurance - Export Credit Insurance introduction

Non-payment of goods exported is usually the greatest barrier to international trade. Credit insurance gives protection against losses of non-payment of trade debts raised from a variety of causes include

  • insolvency or protracted default in payments (buyer risks)
  • inability to transfer currency and payment moratorium for international trade (country risks)

Advantages of “Credit Insurance”

  • Effective control of bad debt risks
  • Enhanced Credit management services
  • A means to obtain more attractive financing
  • Expand sales securely in new markets
  • Protection of your balance sheet and cash flow

Scope of coverage and indemnity

  • Domestic and export sales of goods or services with credit terms up to 180 days.
  • 90% of your receivables can be covered in most cases. The maximum amount is determined by the basic rating associated with the buyer’s credit standing.
  • Claims for default payment are settled in 2 months or 5 months, depending on the amount of default.

Other services

  • Full collection services
  • Risk and credit management services

Premium Rate is calculated on the basis of the followings

  • The volume of insurable turnover
  • The spread of risk
  • The destination of sales

The Export Credit Insurance Policy is acceptable to major Banks in Hong Kong for the purpose of Invoice Financing or Factoring.

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