The Hong Kong Export Credit Insurance Corporation was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115). It was created by statute with the aim of encouraging and supporting export trade by providing Hong Kong exporters with insurance prot...
Overview of Scheme ; Overview · Short-term Export Credit Insurance insures exporters against the risk of buyer(or L/C issuing bank) nonpayment under an export contract with less than 2 years of credit period. ; Product Characteristics · Scheme to cover (both commercial risk and political risk)
Category, Description ; Political Risks, Country Credit Risk pursuant to the OECD Arrangement Risk caused by other reasons outside the Republic of Korea that are not attributable to the contract parties ; Commercial Risks, Importer’s bankruptcy Importer’s inability to make payment due to debt freezing by court of importing country, or debt rescheduling agreement with debtors Importer’s delayed payment for at least two months from the payment due date
KSure Export Credit Insurance in Korea KOREA TRADE INSURANCE CORPORATION Project Finance Department Senior Director Joohyun Oh 12 Goods & Services Payment Loan Repayment BANK Korean...
Trade credit insurance, business credit insurance , export credit insurance , or credit insurance is a type of insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their account...
An export credit agency provides trade financing, insurance, and other services to domestic companies seeking to sell their products and services overseas.
Category, Description ; Political Risks, Country Credit Risk pursuant to the OECD Arrangement Risk caused by other reasons outside the Republic of Korea that are not attributable to the contract parties ; Commercial Risks, Importer’s bankruptcy Importer’s inability to make payment due to debt freezing by court of importing country, or debt rescheduling agreement with debtors Importer’s delayed payment for at least two months from the payment due date
The Berne Union, or officially, the International Union of Credit & Investment Insurers, is an international organisation for the export credit and investment insurance industry. The Berne...
Category, Description ; Commercial risk, Importer‘s inability to make payment due to importer’s bankruptcy, debt freezing by court of importing country, or debt restructuring agreement with debtors ; Political Risks, Contract termination or cancellation due to war, revolution, declaration of moratorium by importing country, measures to delay remittance, unilateral revocation of contract by public importer, or other special reasons
Risk Reduction ; Improve Liquidity ; Increase Competitiveness ; Credit Management Expertise ; Flexible Coverage