It is the financing support which certain countries extend, through relevant Export Credit Agencies (ECA), to the firms importing from such country, and by which the importer country risks are insured.
ECA Credits is a source of mid- and long-term funding for firms wishing to import capital goods.
You can perform any ECA Credit transaction you want, under Türkiye Finans assurance and through the letter of guarantee issued by our bank.
You can contact Türkiye Finans experts online to consult about your Foreign Trade operations.
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Advantages of ECA Credits for the Exporter
- Improve your competitive edge against exporters of other countries.
- Provide the guarantee to collect the price of the goods, and the means of instant collection.
- Offer the chance to find new markets.
Advantages of ECA Credits for the Importer
- Provide mid/long-term financing support.
- Allow low-cost borrowing.
- Facilitate cash flow planning.
- According to OECD rules, maximum 85% of the commercial contract amount is financed.
- By principle, 15% of the commercial contract amount should be paid to the exporter as an advance, from the importer's sources of funding.
- In ECA Credits, the exporter receives the payment from the bank in cash, and the project owner utilizing the financing support makes a deferred repayment to our bank.
- Country credits accrue in consecutive biannual periods, in equal principals and together with the relevant period expenses and commissions.
- The term starts on the date of loading or equipment setup.
- For instance; a Country Credit with a term of 5 years is repaid in biannual periods as of the loading/equipment setup.
|Country||Export Credit Agency||Country||Export Credit Agency|
|United Kingdom||ECGD||Hong Kong||HKEC|