Small and medium sized enterprises (SMEs) are the economic engines that influence the economy and job creation. After the global financial crisis, ECIC responded to the needs of the market by establishing Small and Medium Transactions (SMT) program.
Small and Medium Transactions (SMT)
This product is tailored to cater for transactions with a contract value of US$20m or less.
The repayment tenor is 5yrs or less. Exceeding 5 years can be.
ECIC provides 100% Political Risk and Commercial Risk Insurance Cover.
Guaranteed rates of exchange available
Criteria for approval
The Performance Bond Insurance Scheme in partnership with South African financial institutions enables SMME’s facing financing capacity hindrances to participate in export projects of capital goods and services.
The bond value must not exceed 10% of the South African contract price.
The bond is callable on demand.
ECIC will be partnering with reputable brokerage firms that will sell ECIC products. The objective of the partnership with brokerage firms is to increase the number of direct insurance applications that ECIC receives from SMME exporters. The brokerage firms will pay special focus to the following products:
- Credit insurance for SMME clients (entities with an annual turnover of R50m or less)
- Small and Medium Transactions (SMT) (transaction with a value of USD20m or less)
- Short term commercial lines of business (excluding the investment insurance business).