vadodara branch of ecgc

ecgc

(PRWEB) February 4, 2004 --ECGC, a pioneer organization in export credit insurance since 1957 has decided to open satellite branches at upcoming export centres in the country. ECGC has substantially simplified its procedures and introduced many exporter friendly schemes. Indian Exporters can take full advantage of the credit insurance of ECGC and increase their exports significantly.

ECGC has already opened its new branches in Noida, Rajkot, Chandigarh, Jodhpur and Vishakhapatnam during September 2003 and also opened its 35th Branch at Tuticorin on 23rd January 2004. By opening more branches, ECGC aims at reaching the doorsteps of the exporters for delivering its services effectively.

On 3rd February 2004, ECGC opened its 36th Branch at Vadodara. This branch will cater to the needs of the exporters and commercial banks at Vadodara, Narmada, Bharuch, Ankaleshwar, the Dangs, Surat, Valsad and Union Territory Dadra & Nagar Haweli, Daman. Shri S.Prabhakaran, Executive Director, ECGC has inaugurated the branch office at Vadodara.

On this occasion Sh. Prabhakaran told that ECGC has introduced two products since April 2003 for the exporters namely, Exports (Specific Buyer) Policy and Exports (Turnover) Policy thereby widening the options available to exporters. With the revision of premium rates from April 2003, these products are now available at affordable costs.

He also informed that ECGC has made many special efforts in streamlining its operations and of the schemes applicable to the exporters, in particular such as reduction in premium rates, raising no claim bonus rates, streamlining the claim procedures, quick disposal of the claims, on line approval of credit limits, WAN connectivity, e-connectivity to the exporters etc. It is now possible for all branches of ECGC to take decision on buyer wise limit applications themselves. ECGC has now a network of 36 branches for providing services to the exporters.

ECGC is the only organisation which provides insurance for losses arising out of non-payment in an export transaction under letters of credit by the buyers sighting minor discrepancies. ECGC provides this cover under its Standard Policies subject to certain conditions.

Shri Janak Sheth, President, Exim Club, Vadodara graced the occasion. Representatives of leading exporters and commercial banks in the region also attended the inauguration. Shri.V.Ramachandran,General Manager, Shri M N Chaudhari,Regional Manager & Shri J Sudhakar,Branch Manager of ECGC were present on the occasion.
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