When should the Policyholder submit details of credit insured export sales?
A. Submission of all export sales made during a particular month should be made on or before 10th day of the following month as per clause 6(a) of the Export Credit Policy. Q. Is late declaration considered as violation of the terms of Policy? A. Yes it is. It is clearly mentioned in the Policy that the Policyholders are required to submit all declaration of sales latest by 10th of the following month. Q. What will be the consequences of late submission of declaration of export business? A. As it is a violation of Policy, the Insurer, (ECGA) has the right to refuse, to accept the export sales declarations after stipulated time. Thus, your export sales already made will be off cover. Hence it is highly important that all your sales whether it is domestic or exports are declared in time. Q. When should the policyholder submit Declaration Form of overdue debt? A. Notification of all payments related to credit insured exports not received within 2 months from the due dates should be sent t
