Whole Turnover Packing Credit – (WTPC)

Export Credit Insurance For Banks Turnover Packing Credit (ECIB-WTPC)



A bank or a financial institution dealing in foreign exchange is eligible to obtain this Whole-turnover Cover for all its accounts.

Risks Covered:


12 months

Eligible Advances:


All packing credit advances as per RBI guidelines

Protection Offered


Against losses that may be incurred in extending packing credit advances due to protracted default or insolvency of the exporter-client.

Percentage Of Cover:


For banks taking the cover for the first time it is 75% up to certain Limit and 65% beyond the said Limit. (For others varies from 55% to 75% depending on claim premium ratio of the bank). For Small Scale Exporters (SSE)/ Small Scale Industrial Units (SSI), it is 90%.



For a fresh cover it is 9 paise. (For others, varies from 6 to 13.5 paise per Rs. 100 p.m. depending on claim premium ratio.)

Maximum Liability:


Overall limit up to which claims can be paid by the Corporation in respect of advances granted in any ECIB year and will be determined on the basis of aggregate outstanding.

Important Obligation Of The Bank:


Monthly declaration of advances granted and payment of premium before the end of the month. Approval of the Corporation for extension of due date beyond 360 days from due date to be obtained. Default to be reported within 4 months from due date or extended due date of advances, if not recovered, filing of claim within 6 months of the Report of Default. Recovery action after payment of claim and sharing of recovery.



Banks can exercise option to exclude, Govt. Cos., and Units in OBU under the Cover. Submission of a single proposal for all accounts to be covered. (Premium is payable on average daily product for the month. Declaration to be submitted by the end of the succeeding month.) Higher percentage of cover and lower premium rate as compared to individual credit insurance cover. Less procedural formalities, administrative work and greater convenience.

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Export Credit Insurance Packing Credit (ECIB-PC)

Export Credit Insurance Whole Turnover Packing Credit (ECIB-WTPC)

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