Under which of the following ECGC comes?
The ECGC Limited (Formerly Export Credit Guarantee Corporation of India Ltd) is a government owned export credit provider. It is under the ownership of Ministry of Commerce and Industry, Government of India based in Mumbai, Maharashtra. It provides export credit insurance support to Indian exporters.
What is ECGC Buyer Wise policy?
The Buyer Exposure Policy is to insure exporters having a large number of shipments to a particular buyer with simplified procedure and rationalized premium. An exporter can choose to obtain exposure based cover on a selected buyer. The cover would be against commercial and political risks.
What are the procedure for taking a policy from ECGC?
The exporter can apply with ECGC for insurance on shipment wise order as specific insurance policy, or at lump sum as comprehensive policy. If an exporter obtain a specific policy, the contract of insurance is only for that particular shipment. You as an exporter has to pay premium only against the said shipment.
What does ECGC do on default of payment of any overseas buyer Mcq?
We have discussed about the default of payment by overseas buyer and insurance coverage by ECGC. Export Credit Guarantee corporation reimburse the export proceeds, if overseas buyer not paid the amount of export proceeds to exporter, if such transaction has been insured by ECGC.
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