Product Details
IT-enabled Services (specific customer) Policy
Mumbai
A Quality Product from
ECGC OF INDIA LIMITED [View Profile]
Mumbai - India
Description :
IT-enabled Services (specific customer) Policy is issued to cover the following commercial and political risks involved in rendering IT-enabled services to a particular customer:
(i) Commercial risks:
(a)Insolvency of the customer.
(b)Failure of the customer to make the payment due within a specified period, normally four months from the due date.
(c) Buyer's failure to accept the services rendered (subject to certain conditions).
(ii)Bank risks:
(a)Bankruptcy of L/c opening bank
(b)Failure of L/c opening bank to make the payment due within a specified period, normally within four months from the due date (Non-payment due to discrepancies in the document will not be covered)
(iii)Political risks:
(a)Imposition of restrictions by the Government of the customer?s country or any Government action which may block or delay the transfer of payment made by the customer;
(b) War, civil war, revolution or civil disturbances in the customer?s country;
(c) New import restrictions or cancellation of a valid import license by authorities in the customer?s country;
(d) Cancellation by the Govt. of India a legally valid and binding contract between the exporter and the customer.
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ECGC OF INDIA LIMITED deals in :
Credit Insurance Policies - SCR or Standard Policy, Turnover Policy, Small Exporters Policy, Small Exporters Policy, Specific Shipment Policy (Short term), Buyerwise Policy, Consignment Exports Policy, Buyer Exposure Policies, Software Projects Policy, IT - Enabled Services (Specific Customer) Policies, Services Policy, Construction Works Policy, Specific Policy for Supply Contract, Insurance cover for Buyer's Credit and Line of Credit. Maturity Factoring - Maturity Factoring. Guarantees to Banks - Packing Credit Guarantee, Export Production Finance Guarantee, Post-Shipment Credit Guarantee, Export Finance Guarantee, Export Performance Guarantee, Export Finance (Overseas Lending) Guarantee. Special Schemes - Transfer Guarantee, Overseas Investment Insurance, Exchange Fluctuations Risk Cover.
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