It provides risk protection for the seller, manufacturer, trader who sells on credit terms to buyers against non-payment by his buyers. Non-payment may be due to buyer's insolvency, protracted default by buyer or economic and political conditions which are out of the control of the seller and the buyer.

What is credit insurance?

Bonds are written guarantees given by one party (the bond provider or guarantor) to another (the beneficiary) in respect of the performance of certain contractual obligations undertaken by the third party.

What are bonds and guarantees?

Credit insurance:

  1. offers protection against the devastating effects of non-payment arising from commercial, economic and political factors,
  2. protects your balance sheet against bad debts,
  3. allows you to safely expand your sales, develop and venture into new markets
  4. stabalise your cash flow and enhances your borrowing power
Why should I consider using credit insurance and how can I benefit from it?

Bonds and guarantees with the bank will result in a tightened credit line with the bank. our services do not have any restrictions and will enable you to utilise your bank facilities for other financial purposes.

Why should I consider using bonds and guarantees and how can I benefit from it?

Our premium charge is competitive and price is dependent on the portfolio of risks (such as countries) offered for credit insurance, the credit terms that you offer to your buyers and your credit management. Our Business Development Team can provide you with a quote on the recommended terms of cover once we have received your proposed portfolio for credit protection.

What is the cost of obtaining a credit insurance policy?

The cost for bonds and guarantees would depend on the nature of the project, bond period and your track record in the business.

What is the cost of issuing a bond/guarantee?

We provide cover to a wide range of countries, including Singapore.

Do you provide credit insurance cover for all countries?

The indemnity is up to 90% of the gross invoice value.

What is the indemnity percentage?

Your claim will be paid immediately if your buyer is insolvent and you have obtained acknowledgement of your debt filed with the Receiver/Manager or Liquidator.

For default payment, the claims waiting period is 6 months from due date and for other causes of loss insured under the Policy, it is approximately 4 months.

How long does it take to process claim?

You can file your claim immediately when you are aware of any adverse information which may affect the buyer's payment of your invoice. Our Claims Officer will provide full assistance to you to help you file a claim and recommend appropriate measures to minimise your loss.

How do I file a claim?

The credit insurance policy is a risk management tool and it helps you to stabilise your cash flow, and protects your trade receivables in the ever-changing competitive and economic business climate.

I have no bad debts and what is the use of credit cover?

Simply contact our Business Development Team at 6337 4779 or send your enquiry to us by fax at 6338 9267 or email us at

How can I get more information on credit insurance?



Personal Data Protection

ECICS Limited and all its staff have a legal obligation to comply with the Personal Data Protection Act 2012 ("PDPA") in relation to personal data obtained from individuals in the course of our business.

Purposes for which your data may be used: ECICS Limited and all staff will use your data only for the specific matter for which the data was provided. This could include processing your application for any products or services offered by us, our underwriting and risk assessment, prevention and investigation of criminal offences and compliance with applicable rules and regulations.

Confidentiality: All personal information provided to and held by ECICS Limited shall be kept confidential.

Marketing: Unless you have registered with the Do Not Call Registry, staff of ECICS Limited may make calls or send SMS/MMS on faxes to market our products and services from time to time. However, you have the right not to receive such calls and messages by registering your number with the Do Not Call Registry.

For more information on the PDPA or to obtain a copy of our ECICS Privacy Notice or to file a complaint under the provisions of the PDPA, please contact us at the following address or number.

The Data Protection Officer
ECICS Limited
10 Eunos Road 8
#09-04A Singapore Post Centre
Singapore 408600
Tel: +(65) 6337 4779