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ECGC SCHEMES FOR COVERING EXCHANGE RISKS: The ECGC has evolved two schemes to provide greater protection to exporters of capital goods and turnkey project against the risk of fluc
Indemnity and Insurable Value : The insurance contract is in the nature of indemnity. The literal meaning of indemnity is protection against loss or making good the loss. The obje
PROCEDURE FOR MAKING A CLAIM : A claim will arise when any of the risks insured under the policy materialises. If an overseas buyer goes insolvent, the exporter becomes eligible f
Export of Spares: Warranty spares, whether indigenous or imported, of plant, equipment, machinery, automobiles or any other goods may be exported upto 7.5% of the FOB value of the
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Post-shipment Credit in Foreign Currency : The exporters have the option of availing of export credit at the post-shipment stage either in rupee or in foreign currency. The credit
Specific Voyage Policy : A Voyage Policy covers the risks that may arise during a journey from specific place to another. The terms and conditions of the insurance are set out in
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OBJECTIVES OF EXCHANGE CONTROL : Most of the developing countries including India, found it necessary to continue exchange control introduced during the Second World War on a syst
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