25 April 2024 11:43 am Views - 169
Sri Lanka Export Credit Insurance Corporation (SLECIC) extends its support to Logistic Industry by introducing a tailor made products to the following business categories.
- Non-Vessel Operating Common Carriers (NVOCC)
- Feeder Operators
- Airline/Shipping Line Agents
- Freight Forwarders
Secure Trade Financial Need for Logistic Industry…
Logistic Industry is the invisible backbone of the international trade, however they have been struggling to secure sufficient trade finance capital. Recognizing this critical need, Sri Lanka Export Credit Insurance Corporation (SLECIC) has introduced an innovative solution: the Export Performance Guarantee which provides much needed financial needs and thereby unlocking new growth avenues for Sri Lanka's export sector.
This particular Export Performance Guarantee mitigates banker’s exposure in case the logistic industry fails to meet their contractual obligations/ due performance. Furthermore, SLECIC offers Export Performance Guarantee at an affordable premium rate on the permitted limit of the guarantee.
Benefits for the Trade:
Reduction in requirement of collateral: No more blocking of capital as deposits for the collateral for bank guarantees.
Mitigation of Risks for Banks: SLECIC's guarantee protects the banks in case their clients who fail to meet their contractual obligations/ due performance.
Improved Credibility and ease of Contract Acquisitions: SLECIC's guarantee assures terminal operators, Feeder Operator’s, and Shipping Line Agents’ ability to meet contractual obligations, making it easier to secure contracts.
Mr. Senarath Devendra, Chairman & Managing Director of SLECIC says: by adopting this new guarantee a large sum of deposited money would be released to the economy creating new investments opportunities which will in return pave the way to economic growth. Furthermore, he states that by strengthening the financial needs of the freight forwarding industry as a whole creates a more robust foundation for the entire Sri Lankan export landscape giving the opportunity for the companies to enhance their revenue streams.
For more information or to apply for the Export Performance Guarantee, contact SLECIC Sales & Marketing Department on 011 2307519-23 or inquiry@slecic.lk.