Institution details

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HKEC - Hong Kong Export Credit Insurance Corporation (HK ECIC)

Key facts

  • Established in 1966
  • Ownership: Public
Not Part of the OECD Part of the Berne Union

Latest update: 03/12/2021

Products

  • Comprehensive cover policy
  • Contract cover policy
  • Small business policy
  • Cover on export services

Comprehensive cover policy 


  • Available to Hong Kong exporters and manufacturers who are the principal in the contract to cover export business on credit terms when goods are:
    - Shipped from Hong Kong
    - Transported directly from suppliers' countries to foreign destination even without passing through Hong Kong 
  • Maximum insured amount: Up to 90% of contract value
  • Eligible exports: Must come from Hong Kong, Mainland China, Indonesia, South Korea, Macau, Malaysia, Philippines, Singapore, Sri Lanka, Taiwan, or Thailand
  • Availability: Date of shipment
  • Credit period: Up to 180 days
  • Cover: Commercial and political risks
  • Premium rate: Calculated on the volume of insurable business, spread of risks, export destination, and payment terms 


Contract cover policy 


  • Available to Hong Kong exporters and manufacturers; application can be completed over the phone
  • Pre-shipment cover: For export business on credit terms or under payment terms of irrevocable L/C
  • Post-shipment cover: For export business on credit terms with goods
    - Shipped from Hong Kong
    - Transported directly from suppliers' countries to foreign destination without passing through Hong Kong
  • Availability: Date of contract
  • Maximum insured amount: Up to 90% of contract value
  • Eligible exports: Must come from any of Hong Kong, Mainland China, Indonesia, South Korea, Macau, Malaysia, Philippines, Singapore, Sri Lanka, Taiwan, or Thailand
  • Cover: Commercial and political risks
  • Premium rate: Calculated on the volume of insurable business, spread of risks, export destination, and payment terms


Small business policy 


  • Available to exporting companies with annual turnover less than HKD 50 million for contracts of sale with overseas buyers
  • Coverage:
    - Pre- and post-shipment risks with maximum liability up to HKD 10 million
    - Applies to domestic exports and re-exports from Hong Kong, and direct exports from places outside Hong Kong
    - Selective cover for specific buyers or markets
  • Insured amount: Flexible range from 60% to 90% of contract value
  • Shipment declaration: Per invoice or per the sum of invoice values reported once monthly per buyer
  • Cover: Commercial and political risks
  • Fees:
    - Annual policy fee waived
    - Premium discounted 20%
    - Premium calculated on the volume of insurable business, spread of risks, export destination, and payment terms 


Cover on export services  


  • Comprehensive protection to Hong Kong service sector companies rendering services to overseas clients on credit
  • Cover commences when services rendered
  • Maximum insured amount: Up to 90% of contract value
  • Eligibility: All service contracts with credit up to 180 days
  • Services categories covered: Freight forwarding, hotels, services for aircraft engine overhauls and general maintenance, testing and inspection services, construction services, travel agency, advertising, and management/consultation services
  • Cover: Commercial and political
  • Premium rate: Calculated based on volume of insurable business, the spread of risks, the client’s country, and payment terms

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