Exports Credit Guarantee Department (ECGD)

• Also known as Export Credit Guarantee Corporation (ECGC)in Zimbabwe.
• Covers risk of non payment by importers due to:
• lack of foreign currency.
• Political instability.
• Outbreak of war.
• Overseas state interferences.
• Provides comprehensive policies to cover the whole of export businesses for at least 12 months.
• Provides specific polices to cover single transactions involving construction projects for which payments are spread over a number of years.
• Compensates exporters if an importer defaults.
• Investigates creditworthiness of importers.
• Monitors the importer’s risk change.
• Collects overdue debts.
• Finances the exporter in the interim.
• Policy acts as collateral security for loans given.

To access more topics go to the Commerce Notes page.