The ECIC has launched its tailor-made “Small Business Policy” (SBP) to cater for exporting companies with an annual turnover of less than HK$50 million, assisting SMEs in developing new markets amid uncertain external economic and export outlook. Special concessions are offered to SBP policyholders for a period of two years until 28 February 2015, including waiver of annual policy fee and premium discount of up to 20%.
SBP, tailor-made for SMEs, provides a range of flexible arrangement, including selective cover for specific buyers or markets and flexible indemnity ratio (60%, 70%, 80% or 90%), etc. This facilitates the establishment of their own credit arrangement according to their specific needs. Another advantage of SBP is that it is easy to administer. Policyholders are free to declare their shipments per invoice, or declare the sum of invoice values once a month for each buyer.