The Self-Underwritten Policy (SUP) is tailor-made for Hong Kong exporters with an annual turnover of less than HK$50 million, covering contract of sale they have with their overseas buyers in major overseas countries/markets. The SUP provides exporters a flexible arrangement to set discretionary credit limits under certain criteria to assist Hong Kong exporters in developing overseas markets.
Scope of Cover
The SUP covers domestic exports, re-exports from Hong Kong or direct exports from places outside Hong Kong. All shipments made rendered under contracts concluded on payment terms of cash against documents (CAD), cash on delivery (COD), documents against payment (DP), documents against acceptance (DA) and open account (OA) for a period not exceeding 120 days are covered.
Fixed premium rate
All information provided to the Corporation will be kept strictly confidential. ECIC staff is required to take an oath of secrecy as provided under Section 31 of the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115). The Corporation is a “public body” under the Prevention of Bribery Ordinance. Staff members are not permitted to accept any advantage from customers. Anybody offering any advantage to the staff for any assistance in their capacity as public servants under the Ordinance commits an offence.