How to Purchase Export Credit Insurance Online to Reduce Bad Debt Losses

Author Name: Emma Hau – Marketing Analyst at FreightAmigo

As global markets and trade are affected by events such as the US-Mainland China trade war, European debt crisis, and COVID-19 pandemic, many Hong Kong exporter customers have reported to FreightAmigo that their shipment had been delayed and thus they had to pay fines, which increased the company’s costs. Also, after the Hong Kong exporters arranged the shipment, there were even some buyers suddenly abandoned the goods, resulting in the exporters failing to recover the payment of the shipment. 

FreightAmigo, Asia’s first one-stop supply chain finance platform, noticed that many Hong Kong exporters expect more comprehensive protection to reduce company losses caused by bad debts. Therefore, FreightAmigo adopted the Hong Kong Export Credit Insurance Corporation (HKECIC)‘s “Export Credit Insurance” (ECI) service to provide Hong Kong exporters with upgraded comprehensive export credit insurance protection. Hong Kong exporters can now purchase export credit insurance for their shipment online easily!

What is “Export Credit Insurance” (ECI)?

• ECI is not referring to the goods, instead, it protects the accounts receivable
• ECI provides protection against the risks of non-payment involved when offering credit terms to your overseas buyers. 

What are the benefits for Hong Kong exporters to purchase ECI on the FreightAmigo?

✅ Compensation rate is as high as 90% 
✅ Reduce supply chain management and bad debt risks 
✅ Provide more comprehensive protection 

How to purchase export credit insurance for your shipment?

1. Register and login FreightAmigo platform;

2. Enter your shipping information in Instant Quote and click “Search”;

3. After comparing the quotations, choose your favorable solution and fill in the information according to the instructions;

4. Submit request for export credit insurance service on this page; 

5. Click “Book & Pay” to complete payment and online booking.