SINOSURE.
Trade Credit for Importers
SINOSURE.
Trade Credit for Importers
With Sinosure, you can access trade credits directly from your Chinese suppliers, allowing you to defer payment for goods up to 90 or even 120 days after shipment.
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Our Services
Obtain a new Sinosure credit limit for your company to negotiate deferred payments.
Expand your company's current Sinosure credit limit if you need to supply more goods.
What Is SINOSURE?
Sinosure is a Chinese state-owned corporation specializing in trade credit insurance. Sinosure insures the risk of non-payment by importers, providing a guarantee to Chinese suppliers. This allows importers and Chinese exporters to conduct trade transactions on trade credit terms.
If your company has a Sinosure credit limit, you can obtain a payment deferment of 90 or 120 days from your Chinese supplier.
If your company has a Sinosure credit limit, you can obtain a payment deferment of 90 or 120 days from your Chinese supplier.
More than 240,000 suppliers in China currently hold Sinosure insurance policies, indicating widespread use of this tool. This ensures you can easily find a supplier to work with on trade credit terms through Sinosure.
Why Do International Importers Choose SINOSURE?
Choosing Sinosure is a gateway to growth for international importers, offering a way to expand through supplier trade credits. It's all about unlocking financial flexibility, which enables you to increase inventory, promote trade development, and explore new markets without bearing immediate financial burdens.
The number of importers using trade credits backed by Sinosure ranges from 10,000 to 30,000, varying by country.
How SINOSURE Works
Sinosure mitigates the credit risks for Chinese suppliers in international trade,
encouraging them to offer credit terms to buyers.
encouraging them to offer credit terms to buyers.
1
Negotiating with Suppliers
Start negotiations with your suppliers to switch your payment terms to an Open Account arrangement, using Sinosure's services. Ensure your supplier either has a valid Sinosure policy or agrees to apply for one to facilitate this change.
2
Sinosure Onboarding
Your company needs to be registered in the Sinosure Database (Sinorating) to receive a Sinosure ID. Sinorating will also provide a credit report on your company, which is necessary for the credit check process.
3
Credit Limit Application
Once your suppliers have a valid Sinosure policy, they apply directly to the Sinosure insurance company by submitting an application form to secure a credit limit for your orders with deferred payment terms.
4
Credit Limit Approval
Sinosure's Underwriting Department will review your company's details and issue a credit limit. This limit allows your supplier to offer you trade credit terms securely.
5
Shipment
Once everything is in place, your supplier will ship the goods to you without requiring upfront payment. The supplier uploads shipment data to Sinosure to insure the deferred payment.
6
Payment
Your company will then have 90-120 days post-shipment to settle the payment. The credit limit is revolving, meaning it becomes available again for use immediately after you've paid for the previous order.
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The Largest Credit Insurer Globally
Sinosure has continuously ranked first among the world's official export credit insurance institutions since 2015, as reported by the Berne Union.
Support for Small Business
Sinosure places special emphasis on supporting small businesses, making its services accessible to small importers with an annual turnover starting from USD 1 million.
No Extra Costs for Importers
Importers benefit from Sinosure's services without facing additional fees, as the charges are covered by the Chinese suppliers.
Flexible Financing Options
With partnerships across major Chinese banks, Sinosure enables suppliers who lack in-house financing to offer trade credit by facilitating invoice discounting.
No, Sinosure does not pay money directly to your supplier. Instead, the supplier extends trade credit to you on their own, meaning there are no additional financing costs for you. Sinosure provides protection to the supplier against risks associated with offering trade
credit, encouraging them to broaden their business by providing flexible payment terms.
credit, encouraging them to broaden their business by providing flexible payment terms.
Suppliers are encouraged to offer trade credit as part of China's strategy to gain a dominant position in international trade. The Chinese government supports this by providing insurance, subsidizing export credits, and creating incentives, including policies tailored for micro and small exporters. Additionally, suppliers face competition both within China and globally, using trade credit as a strategic tool to retain their clients. This competitive environment motivates suppliers to extend trade credits, helping them secure and maintain business relationships.
If a supplier is unable to extend trade credit because of financial constraints, Sinosure's collaboration with major Chinese banks provides a solution. These banks offer export financing for suppliers, backed by a Sinosure guarantee. This means that every Chinese exporter has the opportunity to obtain export financing under Sinosure's protection, ensuring they can offer trade credits to their clients despite their own financial limitations.
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Which Companies Qualify for a Credit Limit?
USD 100,000
Minimum applicable credit limit in Sinosure.
1 year
To qualify for a Sinosure credit limit, your company must have been in operation for at least one financial year.
Turnover
Your company must have achieved an annual turnover of more than USD 1 million in the last financial year.
Financial Health
Your company must be profitable and have no outstanding debts to suppliers.
Sinosure Q&A
General information about China Export & Credit Insurance Corporation (SINOSURE)
Learn more about how SINOSURE credit insurance works.
Sinosure credit limit: What it is and how to obtain it
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Contact Us
Book a free online consultation with our specialist.
Axton Global is an international consulting company helping importers worldwide secure trade credit terms with Chinese suppliers.
We serve customers from 82 countries across 5 continents.
info@axtongl.com
We serve customers from 82 countries across 5 continents.
info@axtongl.com