ECGC (Export Credit Guarantee)
Protecting Indian textile exporters against payment and political risks.
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1. What is ECGC?
The Export Credit Guarantee Corporation (ECGC) provides credit risk insurance to exporters against non-payment by overseas buyers due to commercial or political risks. It enables textile exporters to expand confidently into global markets by safeguarding their receivables.
2. Documents Required
- Import Export Code (IEC)
- Business Registration Certificate (MSME/GST)
- Buyer Credit Information / Reports
- Export Invoices & Shipping Documents
- Bank Certificate (BRC/FIRC)
3. How ECGC Protection Works
- Exporter applies for an ECGC policy (e.g., Shipments Comprehensive Risks).
- ECGC assesses the creditworthiness of the foreign buyer and the country risk.
- Policy is issued with specific credit limits.
- Exporter ships goods and declares them to ECGC.
- If the buyer fails to pay due to commercial or political reasons, ECGC compensates up to 90% of the loss.