When buyers default or political events block payments, ECGC insurance is a recovery lifeline for Indian exporters. ECGC policies are designed to cover commercial (buyer insolvency/default) and political risks (war, currency transfer restrictions). But filing a successful claim requires a precise process and documentation.
Types of ECGC cover
Buyer’s Credit – protects the exporter when the buyer fails to pay.
Post Shipment Buyer’s Credit – covers receivables financed by bank post-shipment.
Political Risk – covers transfer delays due to government sanctions or forex controls.
Export Credit Insurance – often covers a percentage of invoice value (e.g., 90% for commercial risk).
Step-by-step: How to file an ECGC claim?
Check your policy terms & coverage:
confirm the buyer, transaction and policy period are covered.
Notify your bank & ECGC early:
As soon as payment is delayed, inform your bank and ECGC. Most policies require prompt notification.
Gather documentation:
Invoices, bills of lading, contract, proof of dispatch, buyer correspondence, reminders, and protest notices. Keep originals & certified copies.
Submit formal claim application:
ECGC has a claim form; include all supporting evidence and a narrative timeline of events.
ECGC investigation & verification:
ECGC may appoint investigators or require additional documentation; cooperate promptly.
Settlement or rejection:
If approved, ECGC pays per policy terms; if rejected, there is an appeal process (review committee).
Recover from buyer (subrogation):
After settlement, ECGC may pursue buyer to recover the insured amount.
Common reasons ECGC claims fail
(How to avoid them)
Late notification: notify ECGC immediately upon missed payment.
Insufficient documentation: missing proof of shipment or invoice inconsistencies will lead to rejection.
Contractual ambiguities: unclear payment terms or disputed quality claims can void coverage.
Non-covered events: check if your policy excludes certain risks or markets.
How we help exporters with ECGC claims?
We perform a claim readiness audit — checking documents, preparing the claim dossier, liaising with ECGC & the bank, and advising on subrogation strategy post-settlement. For many exporters, our intervention cuts the settlement time and avoids common rejection causes.