Page 204 - January 2022 Issue

ECGC Limited

M. Senthilnathan
CMD, ECGC

CGC Limited, a premier Export Credit Agency (ECA) of Government
of India (GoI) established in 1957, provides credit insurance covers
Eto exporters against non-payment risks by the overseas buyers due
to Commercial and Political reasons. It also provides insurance covers to
banks against risks in export credit lending to the exporter borrowers. ECGC
endeavors to support Indian Export Industry with its experience, expertise
and underlying commitment to progress and advance of India’s exports.
ECGC promotes both Short Term (ST) exports (i.e. export realization within
one year) and Medium and Long Term (MLT) exports (i.e. export realization
extending over a period of more than one year).

ECGC Limited has always played a pivotal role in supporting the Indian Export
Industry by providing cost effective insurance and trade related services to
meet the growing needs of Indian export market. With this mission, ECGC
has taken the following measures to support its customers during COVID-19
period:
For Exporters:

I. Time for filing returns like declarations, extension applications, report
of default etc., under the insurance covers that were due in March and
April, is extended up to 31st August 2020.
II. Time for filing claim/ replies due during this period is extended up to
The current crisis 31st August 2020.
of COVID-19 has III. Waiver of credit limit application fee till 31st August 2020.
impacted different IV. Specific Shipment Policy expiring in March 2020 was extended
sections of society V. automatically up to June 2020.
Exporter is allowed to convert the terms of payment from DP to DA for
and ECGC is always the shipment that reached destination but not cleared by overseas buyer
committed to due to lockdown in the destination countries.

support the nation VI. Reduction in policy proposal processing fee by 50% till 31st August
in these tough times. 2020.

ECGC Limited 177