Export Credit Guarantee (Post-shipment)
- This product functions as security for exporters receiving export proceeds early from F/X banks that purchase export proceeds from the exporter based on shipment documents including bills of exchange after the shipment of goods.
Overview of Scheme
- This is a scheme for K-SURE to provide a joint guarantee when an exporter ships export goods according to an export contract, and a financial institute purchases (negotiates) the export receivables based on the shipping documents, such as a bill of exchange.
- As an exporter receives export proceeds in advance from an exchange bank based on the shipping documents, such as a bill of exchange, after exporting goods through a credit transaction, it produces the effect for the exporter to receive the export payment concurrently with the export.
- However, as the exchange bank pays the proceeds with its own funds, it generally requires a security. K-SURE’s export credit guarantee(post-shipment) serves as the security.
- In other words, if a bank paid export proceeds in advance through the purchase of shipping documents with the export credit guarantee (post-shipment) as the security, but the importer fails to make the payment on the due date, the damage is compensated for by K-SURE.
Target TransactionsGeneral export, Consignment Processing Trade transactions within two years of the settlement period
|General export||Refers to exports of domestically manufactured goods from Korea to foreign countries or those purchased by domestic manufacturers|
|Consignment Processing Trade||Transaction to export goods manufactured and processed by a local subsidiary of a domestic country operating in an overseas country, or goods processed in a third country through consignment to a company based in the respective country directly from the third country to an importing country|
- Point of Contact : Business Coordination Department