It is a common practice for Hong Kong manufacturers to supply goods to local exporters who in turn sell the goods to overseas buyers. Where credit sales are involved, the local manufacturer is expose to the risks of non-payment in the event the local exporter defaults or becomes insolvent.

To protect you, ECIC has created a facility to cover the credit risks arising from sales by Hong Kong manufactures to exporters in Hong Kong.

l Eligibility for Cover l Risks Covered and Indemnity l Premium Rates l
l Form of Cover l Confidentiality l Application Procedure l

 

To be eligible for cover, you must be a manufacturer and the exporter must be a locally registered business entity. The goods involved in the transaction must be intended for export. Documentary evidence such as contracts, transport documents, export declarations, etc. is normally sufficient for this purpose.

 

Risks covered include:

 

 

Insolvency and bankruptcy of the local exporter

 

Payment default by the local exporter

 

The maximum compensation is 90% of your loss.

 

Premium rates generally vary according to the length of credit, the volume of insurable business and the spread of risks.

 

Cover is available through the issue of an endorsement to the standard shipments policy.

 

All information provided to ECIC will be kept strictly confidential. ECIC staff are required to take an oath of secrecy as provided under Section 31 of the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115).

 

You only need to click here for application.