|Hong Kong Export Credit Insurance Corporation (HKEIC) | Export Credit Agency (ECA) in HK|
About Hong Kong Export Credit Insurance Corporation
The Hong Kong Export Credit Insurance Corporation (HKECIC) was established in 1966 by statute with the aim of encouraging and supporting export trade by providing Hong Kong exporters with insurance protection against non-payment risks arising from commercial and political events.
The corporation provides a wide range of insurance facilities to Hong Kong exporters of both goods and services who trade with overseas buyers on credit terms, usually of up to 180 days.
The facilities cover two main types of non-payment risks for goods exported and services rendered arising from buyer risks and country risks. Its facilities cover not only exports shipped and re-exported from Hong Kong, but also those transported directly from suppliers’ countries to their destination without passing through Hong Kong.
Its contingent liability under contracts of insurance is guaranteed by the Government of the Hong Kong Special Administrative Region, with the statutory maximum liability currently standing at $55 billion.
The corporation is required to operate in accordance with the requirements laid down in the Hong Kong Export Credit Insurance Corporation Ordinance and to pursue a policy directed towards securing revenue sufficient to meet all expenditure properly chargeable to its revenue account.
A summary of Hong Kong Export Credit Insurance Corporation
Products and services offered by Hong Kong Export Credit Insurance Corporation
- Export credit insurance
- Risk assessment & monitoring services
- Collateral for discounting export bills
Raw Materials – From tobacco to spices, gold to bronze, commodities represent a large proportion of our trade finance portfolio
Finished Goods – Our innovative structuring capabilities allow us to put together complex finance structures, even if the end goods are finished
Metals – From scrap metal to alloys, we help traders and distributors access trade, receivable or PO finance for iron, steel and non-ferrous metals