Interviews
We make exports from India 'Risk Free!' – GM, ECGC
15 Sep '09
9 min read
F2F: Does ECGC insure against bankruptcy, insolvency, Chapter 11 etc. If yes why was there a panic in case of KQ case?
VV: ECGC gives protection against buyer's insolvency, bankruptcy including Chapter 7 and 11 cases. As a responsible organization which is accountable, we feel it necessary to inform our exporters who seek our covers of the adverse information that has come to our notice so that they can exercise care and caution and at the same time ECGC can also do a review of the buyer records by obtaining updated information on the buyer.
Our source of information is not only the credit information agencies but also our own exporters who report to us the adverse experience. Where our reviews and updated enquiries have revealed that there is no need for a panic button to be pressed, we have forthwith reinstated the covers.
In the final analysis, we would like to mention that ECGC would continue to take proactive steps to support Indian exports. We take your observations with utmost seriousness and will take measures that do not hamper exporters from doing business with our support. We would like to remain true to our mission of making exports from India Risk Free!
VV: ECGC gives protection against buyer's insolvency, bankruptcy including Chapter 7 and 11 cases. As a responsible organization which is accountable, we feel it necessary to inform our exporters who seek our covers of the adverse information that has come to our notice so that they can exercise care and caution and at the same time ECGC can also do a review of the buyer records by obtaining updated information on the buyer.
Our source of information is not only the credit information agencies but also our own exporters who report to us the adverse experience. Where our reviews and updated enquiries have revealed that there is no need for a panic button to be pressed, we have forthwith reinstated the covers.
In the final analysis, we would like to mention that ECGC would continue to take proactive steps to support Indian exports. We take your observations with utmost seriousness and will take measures that do not hamper exporters from doing business with our support. We would like to remain true to our mission of making exports from India Risk Free!
Fibre2fashion News Desk - India
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