Trade Finance
ECGC Login & Insurance Charges: Premium Guide (2026)
ECGC — the Export Credit Guarantee Corporation of India — protects exporters against buyers who do not pay and against political risk. Here is what ECGC policies cover, the coverage percentages, how premiums are set, premium rate chart, country risk and how to log in on the ECGC SMILE portal (ecgcltd.in).
What is ECGC?
The Export Credit Guarantee Corporation of India Limited (ECGC) is India’s export credit agency — a Government of India enterprise under the Department of Commerce, established in 1957. It sells export credit insurance to exporters and guarantee cover to banks, so that Indian exporters can sell on open account without betting the whole receivable on a foreign buyer’s ability to pay.
In practical terms, ECGC does two jobs. For exporters, it compensates you when a foreign buyer defaults or a political event blocks payment. For banks, it guarantees the export credit — packing credit and post-shipment finance — they extend to you, which is why ECGC cover often makes the difference between a bank saying yes or no to your export financing.
New to trade finance? Start with the explainer
What trade finance is, why it exists, who is involved and how international trade finance works — the 9-minute foundation before policies and products.
What is trade finance? →ECGC SMILE login: ecgcltd.in, exporter login & portal
ECGC moved all exporter transactions to the SMILE portal at ecgcltd.in — ecgc.in is now the info site only (schemes, schedules, helpline). Every exporter login, whether you search ecgc login, ecgc smile login, smile ecgc login or ecgcltd login, lands on the same SMILE portal.
- Go to ecgcltd.in → click SMILE / Exporter Login (ecgc.in will redirect you here).
- Log in with your user ID or IEC (importer-exporter code) and password; first-time users register with IEC + business details.
- Inside SMILE: apply for a new policy, request buyer-wise credit limits, file monthly shipment declarations, track claims and download policy documents.
- Stuck? Use grievance portal igms.ecgc.in or toll-free 1800-22-4500; for IEC or DGFT issues check our IEC guide first.
Bookmark ecgcltd.in for daily use and ecgc.in for the public rate chart and country risk lists — traders who mix them up waste a week on redirects.
ECGC insurance charges and fees
ECGC insurance charges = premium + 18% GST + processing fee. Premium is the main ecgc insurance charge; processing fees are small add-ons. Expect the invoice to show premium + 18% GST.
| Charge | When it applies | Typical amount (indicative ⚠️) |
|---|---|---|
| Premium | Every policy — % of insured turnover/shipment | Paise per ₹100 per month (per rate chart) — e.g. sight LC 3–6 paise, 90-day DA 12–25 paise; NCB up to 50% off |
| Processing fee | Specific Buyers / Shipment policies | Around ₹2,000 per application |
| Minimum premium | Small Exporters Policy | Floor amount even if turnover low |
| GST | On premium + fees | 18% |
Two exporters to the same buyer can pay different effective fees — the No Claim Bonus and turnover discount create the spread. Get a buyer-wise estimate before you price the export.
What does an ECGC policy cover?
ECGC divides the risks it covers into commercial and political.
- Commercial risks: the buyer’s insolvency, protracted default (roughly four months past due), and the buyer’s failure to accept the shipped goods.
- Political risks: war or civil war, new import restrictions or cancellation of licences, and transfer delays that stop payment reaching India.
Not covered: disputes over quality, exchange-rate fluctuation, your own breach of contract, and purely domestic trade. ECGC covers the buyer’s country risk, not your deal execution risk.
ECGC policies for exporters
| Policy | What it covers | Best for |
|---|---|---|
| Shipment (Standard) Policy | Whole-turnover export sales on credit terms up to 180 days | Regular exporters with a spread of buyers |
| Small Exporters Policy | Turnover up to about ₹5 crore per year | Small exporters with modest volumes |
| Specific Shipment Policy | Individual shipments, incl. deferred-payment capital goods | One-off or project-based exports |
| Exports (Specific Buyers) Policy | Shipments to a specific buyer or LC-opening bank | Exporters concentrated on one buyer |
| Buyer Exposure Policy | Exposure to a selected buyer across multiple shipments | Ongoing single-buyer relationships |
ECGC cover for banks: packing credit and post-shipment
ECGC’s Export Credit Insurance for Banks (ECIB) is what makes export financing easier to get. It guarantees the bank’s exposure on two stages of the export cycle.
- Pre-shipment (packing credit): covered at around 66.66% under individual or whole-turnover packing credit guarantees.
- Post-shipment: covered at around 60–75% under post-shipment guarantees.
- Whole-turnover ECIB typically covers around 75% of the exposure.
- Small exporters with packing and post-shipment limits up to ₹20 crore can get enhanced 90% cover.
Because ECGC carries part of the default risk, your bank can offer packing credit and post-shipment finance on better terms — which is exactly why our packing credit guide and ECGC cover are two halves of the same export working capital story.
ECGC coverage percentage
- Shipment (Standard) Policy: up to 90% of the loss for commercial and political risks.
- Buyer Exposure Policy: 90% for standard-policy holders, 80% for others.
- Exports (Specific Buyers) Policy: normally around 80% of gross shipment value.
- Small Exporters Policy: enhanced cover for small volumes ⚠️ confirm the exact percentage on your policy schedule.
- Banks (ECIB): packing credit ~66.66%, post-shipment ~60–75%.
Cover is on the loss, not the shipment
ECGC compensates a percentage of the amount you actually lose on a default — not a percentage of your total shipment value. Keep buyer-wise credit limits approved and current, because claims outside approved limits are not paid.
ECGC premium and cost
ECGC premium is calculated as a percentage of your insured turnover or shipment value, and it depends on three factors: the terms of payment (sight LC costs less than 90-day open account), the credit period, and the buyer country’s risk classification. ECGC publishes rate schedules in paise per ₹100 rather than a single headline percentage ⚠️.
- A No Claim Bonus of 5% per claim-free year, up to a maximum of 50% of the premium.
- Turnover discounts on certain policies for high volumes.
- Processing fees on specific policies — e.g. around ₹2,000 for a Specific Buyers Policy and a minimum premium on the Small Exporters Policy ⚠️.
ECGC premium rate chart: how the rate is set
ECGC does not charge a single premium rate. The official rate chart is quoted in paise per ₹100 of insured value per month and moves with your deal structure — the same shipment can cost 2× more on 90-day DA to a high-risk market vs sight LC to the EU.
| Factor | What ECGC checks | Impact on premium |
|---|---|---|
| Payment term | Sight LC vs DA/DP vs usance (30/60/90/180 days) | Sight LC cheapest; DA/DP 90–180 days most expensive |
| Buyer country risk | ECGC country classification (OECD Open Cover → Restricted Cover) | Low-risk Open Cover cheapest; Restricted Cover most expensive |
| Policy type | Standard whole-turnover vs Specific Shipment/Buyers | Whole-turnover gets base rate; single-shipment pays higher paise |
| Bonus / discount | No Claim Bonus (5% per year, max 50%) + turnover slab | Reduces effective rate up to half over time |
No flat rate — ask for your buyer
The exact paise rate for your buyer comes from the official ECGC premium schedule on ecgc.in / ecgcltd.in. Share your buyer country and payment term and we can estimate the slab before you apply.
ECGC country risk classes: what A1–D means for your premium
ECGC assigns every buyer country a risk class and updates it periodically. This class decides whether cover is available on Open Cover, whether you need prior approval, and which premium slab applies from the rate chart.
| ECGC class | Typical markets (illustrative) | What it means for you |
|---|---|---|
| A1 / A2 — Open Cover | US, EU, UK, Singapore, UAE, Australia | Cover freely available; lowest premium slab; high credit-limit approval rate |
| B1 / B2 — Open Cover (restricted) | Turkey, Vietnam, Mexico, South Africa | Cover available; moderate premium; limits reviewed buyer-wise |
| C1 / C2 — Restricted Cover | High-risk / sanctioned or volatile markets | Case-by-case approval; highest premium; may be declined or capped |
Check before you quote
The full country list lives in our ECGC rating finder (A1–D, 220+ markets, effective 01 July 2026) — ECGC moves classes by 1–2 notches most years. Verify your buyer country’s current class there before committing a price; it directly changes the premium rate chart row you fall in.
Look up your buyer's live ECGC rating
Search 220+ markets in ECGC's Short-Term Country Risk Classification (effective 01 July 2026) — A1 to D plus Open, Restricted and Off-Cover buckets — then check financing for the same buyer.
Open the ECGC rating finder →ECGC eligibility: the IEC first
To buy an ECGC policy you need a valid importer-exporter code (IEC) issued by DGFT — it is mandatory for exporting from India under the Foreign Trade Policy. With an IEC and your business details, you can apply for any ECGC policy for goods, services or projects.
Banks and NBFCs that extend export credit can hold ECGC guarantee covers in the same way, subject to the borrower being a standard asset and the standard eligibility checks.
ECGC plus trade finance: the full picture
ECGC covers your risk of non-payment; trade finance moves your cash. The two work together: hold an ECGC policy to insure the exposure, and use export factoring or LC discounting to convert shipped invoices and letters of credit into cash within days. On the import side, ECGC-backed bank facilities sit alongside multicurrency accounts and cross-border payments for paying suppliers.
Finance your export after the insurance is in place
Check your buyer country for factoring and LC discounting coverage, and get a recommendation before you negotiate payment terms.
Open the financing checkerBuyer stopped paying — recovery ladder
Triage, claim deadlines and cheapest-effective recovery steps.
Read recovery playbook →See all export financing options in India
Packing credit, factoring, LC discounting, forfaiting — which fits your stage and buyer country? Full map inside.
Export financing optionsGet ECGC insurance with trad — digitised, guided, done in days
ECGC is powerful but the paperwork is not — SMILE logins, buyer credit limits, shipment declarations, premium slabs and country risk lists that move every year. trad digitises the whole ECGC journey so you get covered without the runaround. No broker chains, no branch visits, no guessing the premium rate chart.
- Digitised onboarding on ECGC SMILE (ecgcltd.in): IEC-linked registration, policy choice (Standard / Small Exporter / Specific Shipment & Buyers), and application filing — guided inside trad.
- Instant buyer-country check: we map your buyer to ECGC country risk class + trad’s 194-market factoring/LC matrix, so you know cover + financing availability before you quote.
- Premium estimate upfront: share payment terms (sight LC vs 30/60/90-day DA/DP) and buyer country — we estimate the paise-per-₹100 slab and the No Claim Bonus path, so no surprise invoice.
- Buyer credit limits, done for you: we prepare the limit application, docs and follow-ups with ECGC — limits are what actually triggers the 90% cover.
- Live tracking: shipment declarations, endorsements and claim filing remain on SMILE, but trad tracks status, nudges and keeps your declarations current so cover never lapses.
- ECGC + cash flow in one place: once insured, discount the same shipments via trad’s financing checker — factoring or LC discounting on the insured receivable, not a separate hunt.
Why exporters switch to trad for ECGC
One trad login = ECGC policy guidance + buyer-country premium estimate + 194-market financing check. You keep the official ECGC policy and SMILE portal — we just make it fast, transparent and digitised. Average first-time exporters go from “which policy?” to “covered” in days, not weeks.
Get ECGC cover the trad way
Tell us your buyer country and payment terms — we estimate your premium slab, pick the right ECGC policy and start your SMILE application digitised.
Get ECGC with tradCheck buyer financing + ECGC in one go
See EC-GC country risk, factoring score and LC discounting coverage for your buyer market before you choose the policy.
Check buyer financingFrequently asked questions
What is the ECGC full form?
ECGC stands for the Export Credit Guarantee Corporation of India Limited — a wholly owned Government of India enterprise under the Department of Commerce, Ministry of Commerce & Industry. Established in 1957, it is India’s export credit agency, providing export credit insurance to exporters and guarantee cover to banks on export credit.
What does an ECGC policy cover?
ECGC covers commercial risks — the buyer’s insolvency, protracted default, or failure to accept the goods — and political risks such as war, new import restrictions and transfer delays. It also protects banks through Export Credit Insurance for Banks (ECIB) on pre-shipment (packing credit) and post-shipment lending. It does not cover quality disputes or currency fluctuation.
How much does ECGC cover?
Under the standard shipment policy the cover is up to 90% of the loss for both commercial and political risks. The Specific Buyers Policy covers around 80% of the gross shipment value, and the Buyer Exposure Policy covers 90% for standard-policy holders and 80% for others. For banks, packing credit is covered at about 66.66% and post-shipment lending at 60–75%.
How much does an ECGC policy cost?
The premium is a percentage of your insured turnover or shipment value, driven by the terms of payment (sight LC vs DA/DP and the credit period) and the buyer country’s risk classification. ECGC also offers a No Claim Bonus of 5% per year up to a maximum of 50% ⚠️. Exact rates are published as per-₹100 schedules, so get a quote for your specific trade pattern.
How do I log in to ECGC and apply for a policy?
Exporters apply online through ECGC SMILE at ecgcltd.in. You log in with your user ID or IEC (importer-exporter code), apply for a policy, submit credit-limit applications and shipment declarations, and file claims — all online. Grievances go through igms.ecgc.in, and the ECGC toll-free helpline is 1800-22-4500.
What is ECGC SMILE login and how is it different from ecgc.in?
ecgc.in is the public information site (schemes, premium schedules, contacts). ecgcltd.in / SMILE is the transactional portal where you actually log in as an exporter (user ID or IEC) to apply for policies, submit credit-limit requests, file shipment declarations and track claims. For exporter login, always use ecgcltd.in — ecgc.in will redirect you there.
What is the ECGC premium rate chart?
ECGC publishes premium as paise per ₹100 of insured value per month, not a flat percent. The chart varies by payment term (sight LC cheapest, 180-day DA/DP most expensive) and the buyer country’s risk classification. ECGC also gives a No Claim Bonus of 5% per year up to 50% and turnover discounts. The exact paise rate for your buyer comes from the official ECGC schedule — we can help estimate it from your payment terms and buyer country.
What is ECGC country risk classification 2026?
ECGC groups every buyer country into a risk class (e.g. low-risk OECD/Open Cover markets vs restricted/high-risk markets) and updates the list periodically. Your premium, credit-limit approval and cover availability depend on this classification. Check your buyer country’s current ECGC class on ecgc.in / ecgcltd.in before quoting — it directly drives the premium rate chart.
What are ECGC insurance charges and fees?
Premium is the main charge (paise per ₹100 on insured turnover, driven by payment term and country risk). Other charges: processing fee around ₹2,000 for Specific Buyers Policy, minimum premium on Small Exporters Policy, plus GST. With a No Claim Bonus up to 50% and turnover discounts, two exporters shipping to the same buyer can pay very different effective rates.
Does ECGC charge a membership fee?
No — ECGC has no separate membership fee. You pay premium on insured turnover plus a processing fee of around ₹2,000 on Specific Buyers and Shipment policies, plus 18% GST. If you saw a membership-fee line, it is likely the policy processing fee or minimum premium on the Small Exporters Policy.
What is ECGC cover for exports?
ECGC cover is the percentage of your loss ECGC pays when a foreign buyer defaults. For exporters: Standard Shipment Policy up to 90% of loss, Specific Buyers Policy around 80%, Buyer Exposure Policy 80–90%. For banks (ECIB): packing credit ~66.66%, post-shipment 60–75%. Cover is on the approved loss — so keep buyer credit limits current — not on shipment value.
What is the coverage for ECGC Specific Buyers Policy — is it 90%?
No — Specific Buyers Policy is normally around 80% of gross shipment value (not 90%). 90% is for the Standard Shipment Policy and for Buyer Exposure Policy holders who already hold a Standard Policy (otherwise 80%). Always confirm the exact percentage on your policy schedule.
Who is eligible for an ECGC policy?
Any exporter with a valid IEC (importer-exporter code issued by DGFT) can buy an ECGC policy for goods, services or projects under the Foreign Trade Policy. Banks and other authorised lending institutions can hold ECGC guarantee covers on the export credit they extend.
Does ECGC cover pre-shipment finance?
Yes, indirectly. ECGC’s Export Credit Insurance for Banks (ECIB) guarantees the packing credit (pre-shipment) and post-shipment finance that banks extend to exporters. That is why a bank can offer you packing credit more easily when ECGC cover is in place — see our packing credit guide for the full mechanics.
Do I still need ECGC if I use factoring or LC discounting?
They are complementary. ECGC insures your risk of non-payment on the whole export; factoring and LC discounting turn your invoices and LCs into cash immediately. You can hold an ECGC policy and still factor your invoices or discount your LCs — the insurance protects your exposure, the financing speeds up your cash flow.