Export Credit Insurance Scheme

The Export Credit Insurance Scheme is administered by ECGC Limited, under the administrative control of the Ministry of Commerce & Industry, Government of India. The scheme has been operational since 1957 and aims to protect Indian exporters and banks financing exports against risks of non-payment by overseas buyers . By availing this insurance cover, your export business can reduce payment risk, improve creditworthiness for export finance and explore overseas markets with greater confidence.

Key Features
Financial Assistance
Eligibility Criteria
Documents Required
Application Process for the Scheme

Key Features

Coverage against commercial risks and political risks: The insurance protects you, as an exporter, from the risk that your overseas buyer fails to pay because of insolvency or prolonged default and also from circumstances like war, political unrest, currency transfer restrictions, or import bans
Different product types: ECGC offers a variety of insurance covers tailored to different situations: short-term export receivables covers, medium/long-term covers for larger projects, covers for banks’ export credit portfolios , single-buyer/portfolio buyer covers etc.
Enhanced cover mode for small exporters: For example, as of 26 July 2022 ECGC rolled out a scheme providing enhanced export credit risk insurance cover up to 90% of the exposure for small exporters (with packaging credit + post-shipment limit up to ₹ 20 crore) whose banks hold ECGC’s whole-turnover ECIB cover.
Support to banks and financial institutions: The scheme also helps banks and financial institutions manage export credit risk by offering guarantees and insurance cover so that banks are more willing to extend export working capital or post-shipment credit.

Financial Assistance

Component	Assistance Provided	Detailed Explanation & Example
Insurance Cover % for Exporter/Bank	Up to ~90% cover	Example: If your bank has issued packaging credit + post-shipment limit of ₹ 10 crore, under enhanced scheme the bank’s exposure may be covered up to 90%.
Premium/Cost of Insurance	Exporter/Bank pays premium to ECGC	Example: You as exporter will pay premium (which is a % of insured turnover/receivables) to avail cover; banks may factor this in export credit cost.
Risk Cover for Receivables	Cover for non-realisation of export proceeds	Example: You export goods worth US$ 50,000, buyer becomes insolvent => claim can be lodged and a certain % of loss will be compensated by ECGC .

Eligibility Criteria

Who can apply:

All Indian exporters of goods, services or projects registered under the Foreign Trade Policy .
Exporters with confirmed export orders or Letters of Credit from overseas buyers.
Banks that extend export finance can obtain cover under Whole Turnover Packing Credit or Post-Shipment Credit policies.
MSMEs engaged in export activities, including merchant exporters, manufacturers and service exporters.

Who cannot apply:

Exporters dealing with prohibited or restricted items as per DGFT policy.
Entities blacklisted by RBI or any enforcement agency.
Exporters with outstanding ECGC dues or earlier claim rejections due to non-compliance.
Exports to countries under international sanctions.

Documents Required

IEC certificate.
PAN card and GST registration of the exporter.
Export order / Letter of Credit / Contract copy.
Buyer’s credit information or payment record .
Shipping documents .
Bank account details of the exporter.
Policy application form .
Premium payment proof.
In case of claim: proof of non-payment, buyer correspondence, insurance certificate copy.

Application Process for the Scheme

Option 1: Apply with Bullit

Click here to start with guided support. Our team verifies eligibility, compiles documents, and handles application & follow-ups on your behalf. You can monitor progress while focusing on operations.
Recommended for: MSMEs and first-time exporters seeking guided assistance.

Option 2: Apply through ECGC Portal

Visit the ECGC official website and select the suitable policy (e.g., Shipment Policy , Specific Buyer Policy, or Whole Turnover Policy).
Register as an exporter and obtain a Policy Number / Customer Code.
Submit export documents: IEC, PAN, buyer details, payment terms, invoice copy, etc.
Pay the applicable premium online.
Once approved, ECGC issues the policy with coverage and limits.
In case of buyer default or political disruption, file a claim online with supporting documents.

Option 3: Through Authorized Banks / Export Promotion Councils
Some banks and councils act as facilitators to assist exporters in policy purchase and claim settlement.