Export Credit Insurance for Chinese Exporters
Post 1 of 7
Dear Sirs,
I am an independent trader of chemical products that it works in the Brazilian and South American markets.
In Brazil, the companies have bought Chinese products through German tradings for many years.
These German tradings grants payment terms of up to 180 days from B/L date for the Brazilian importers without the demand of L/C, when the company have a good credit report.
Our interest rates here are the highest in the world and the cost of opening of a L/C is impossible for many companies, mainly for the small ones.
This situation doesn't allow that Chinese companies can negotiate in an advantageous way with Brazilian importers.
So, how a Chinese exporter can to sell for Brazil without L/C trhough a credit insurance?
Does anybody know if exist some Chinese banks and/or international bank in China that can discount drafts of Brazilian companies?
Thanks for your answers.
Best Regards
Eduardo Porto
I am an independent trader of chemical products that it works in the Brazilian and South American markets.
In Brazil, the companies have bought Chinese products through German tradings for many years.
These German tradings grants payment terms of up to 180 days from B/L date for the Brazilian importers without the demand of L/C, when the company have a good credit report.
Our interest rates here are the highest in the world and the cost of opening of a L/C is impossible for many companies, mainly for the small ones.
This situation doesn't allow that Chinese companies can negotiate in an advantageous way with Brazilian importers.
So, how a Chinese exporter can to sell for Brazil without L/C trhough a credit insurance?
Does anybody know if exist some Chinese banks and/or international bank in China that can discount drafts of Brazilian companies?
Thanks for your answers.
Best Regards
Eduardo Porto
22 Aug 2006 05:48
Post 2 of 7
Replying to [Eduardo Porto]:
Try atradius, it's working kinda internationally so....
Try atradius, it's working kinda internationally so....
22 Aug 2006 07:28
Post 3 of 7
Replying to [Eduardo Porto]:
In China, we have "export credit insurance company" who has cooperated with more than 23 local banks, offering 120 days sell on credits.
Export credit insurance is a good choice to reduce the export risk. It is a "three-win" mode to safeguard the benefits for the exporter, bank and insurance company.
In China, we have "export credit insurance company" who has cooperated with more than 23 local banks, offering 120 days sell on credits.
Export credit insurance is a good choice to reduce the export risk. It is a "three-win" mode to safeguard the benefits for the exporter, bank and insurance company.
22 Aug 2006 07:51
Post 4 of 7
Replying to [dsurja]:
Thanks for your orientation.
Best Regards, Eduardo
Thanks for your orientation.
Best Regards, Eduardo
22 Aug 2006 14:54
Post 5 of 7
Replying to [cbeebies]:
Thanks for your answer.
I agree with you, but what's the reason for the Chinese exporters (my reference is the chemical sector) do not offer these terms?
Will it be that the financial cost is very high?
I heard something about Sinosure, but the people told me that this company is very complicated and bureaucratic.
What do you think about this?
I hope forward to hearing from you soon.
Best Regards, Eduardo
Thanks for your answer.
I agree with you, but what's the reason for the Chinese exporters (my reference is the chemical sector) do not offer these terms?
Will it be that the financial cost is very high?
I heard something about Sinosure, but the people told me that this company is very complicated and bureaucratic.
What do you think about this?
I hope forward to hearing from you soon.
Best Regards, Eduardo
22 Aug 2006 15:03
Post 6 of 7
Replying to [Eduardo Porto]:
Just for your information China has since 15 years a constantly developing export credit insurance and an internal one too
Peaples insurance is covering export finance
Just for your information China has since 15 years a constantly developing export credit insurance and an internal one too
Peaples insurance is covering export finance
13 Apr 2007 13:13
Post 7 of 7
Replying to [Eduardo Porto]:China Export & Credit Insurance Corp (Sinosure) yesterday signed a landmark deal with Standard Chartered Bank (SCB) to jointly offer Chinese exporters credit insurance coverage and trade financing services.
The deal is the first that the government-funded export credit agency has concluded with a foreign banking firm to provide export credit insurance services to Chinese exporters.
The deal is the first that the government-funded export credit agency has concluded with a foreign banking firm to provide export credit insurance services to Chinese exporters.
24 Apr 2007 10:50
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