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ECGC Factoring Services |
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Re: ECGC Factoring Services
The ECGC is provides Factoring a financial transaction. The Export Credit Guarantee Corporation of India is the fifth largest credit insurer of the world in terms of national exports coverage, will be launching a full-fledged factoring business. The international export factoring business will be an in house division of ECGC in Mumbai. For financing facilities with exporters, ECGC is in tie-up talks with banks such as IDBI, HDFC and Corporation Bank. ECGC was endorsing the partner bank to finance 80-90 per cent of the invoice value. On ECGC's endorsement which was backed by irrecoverable guarantee, the bank was finance the exporter. Detail for Export Credit Guarantee Corporation factoring services Services Rendered By Factors For Domestic Sales Are Of Six Types: Full Factoring Recourse Factoring Maturity Factoring Advance Factoring Undisclosed Factoring, and Invoice Discounting The functions or ingredients of full factoring services are: Financing, by way of pre payment of the receivables; Sales Ledger Maintenance; Collection of receivables/ Recovery of bad debts; and Credit Protection against bad debts ECGC Special Schemes: Factoring Buyers Credit Cover Lines of Credit Cover Transfer Guarantee (TG) Overseas Investment Insurance Customer Specific Covers NEIA |
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