You have to register yourself to ECGC for the export credit insurnace. Like any other insurance co. ECGC is also providing the insurance against the export debtors. Rate of Interest is almost 0.3% currently against the total exposure and liability of the insurer will be maximum up to 40 times of the insurance premium paid for the year. But i think you will not get cover against the outstanding of beyond 6 month from the date of export. regards Hemant
--- On Tue, 16/12/08, CA. Ashit Desai <[email protected]> wrote: From: CA. Ashit Desai <[email protected]> Subject: ECGC Cover To: [email protected], [email protected], [email protected] Date: Tuesday, 16 December, 2008, 2:36 PM Dear All, As per ECGC, it offers insurance protection to exporters against payment risk. Can you please explain what exactly it means. I have bank export packing credit limit of 1.00 crore out of which as on date i am utilising 75 lacs and export receivable hypotheciated with bank for abt 2.00 crore. Now one of the debtor's outstanding is for more than a year. How should i or my bank recover this some thru ECGC. Please revert back Regards, CA. Ashit Desai "Mistakes increases ur experience & experience decreases ur mistakes.U learn from ur mistakes others learn from ur success" Add more friends to your messenger and enjoy! Invite them now. Add more friends to your messenger and enjoy! Go to http://messenger.yahoo.com/invite/ --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Skorydov MyTaxAssistant Member Group" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/SkorydovMyTaxAssistant?hl=en -~----------~----~----~----~------~----~------~--~---
