About the product
The exporter has taken out the export credit insurance with China Export Credit Insurance Corporation. The Bank provides short-term financing to the exporter after the shipment of the goods, based on the documents, insurance certificates and indemnity transfer agreements provided by the exporter.
Product features
Taking out short-term export credit insurance can not only reduce the risk of foreign exchange collection, but also get to know the credit status of the importer. The combination of credit and trade financing products will help the exporter ease the financial pressure and actively expand the international market.
Application
Export enterprises that have taken out short-term export credit insurance, are able to perform export contracts and have good credit records.
Rate
No handling fee is charged. The financing interest rate is subject to the domestic and foreign currency trade financing interest rate of the Bank.
Handling process
1. The exporter is insured, and the credit insurance company issues an insurance policy and approves the application of the importer for credit limit.
2. The exporter, the credit insurance company and the Bank sign an indemnity transfer agreement.
3. After the shipment of the goods, the exporter declares and pay the premium to the credit insurance company.
4. The exporter applies to the Bank for credit insurance financing, and submits insurance certificates, export documents and other materials and information.
5. After check and verification, the Bank provides the financing funds.
6. Upon receipt of the payment from the importer, the credit insurance financing funds shall be returned.
