PICC Short-Term Trade Credit Insurance for Importers
Augment your available funds and profitability by gaining the advantage of deferred payment terms with a Chinese supplier, guaranteed by PICC (People's Insurance Company of China) credit insurance. Defer your payments for your imported items for 90 to 180 days.
Axton Global's professional consultants will assist you in your negotiating trade credits using PICC credit insurance tool with your suppliers
Set up a credit limit
We support you in setting up a PICC-backed credit limit granted by your chosen supplier
Our experts put together your documents and present them to PICC for a credit limit investigation
What is HKECIC?
PICC (People's Insurance Company of China) is an insurance group based in China, set up in 1949. It offers various insurance products including short-term export credit guarantees. PICC protects exporters against credit risks. If an importer declares insolvency, PICC guarantees the exporter gets paid.
Being granted a PICC credit limit enables you to solicit and receive favourable deferred payment conditions (lasting from 90 to 180 days) from a Chinese supplier.
How it works
Company financial documents
You will first share your company's financial documents with our consultants at Axton Global. We prepare and consolidate your company information and forward it to PICC, who will begin your credit limit assessment.
PICC credit investigation
PICC will investigate your company using the paperwork we submit to evaluate your company's profitability. A conclusion in your credit limit will be made based on PICC's investigation after approximately 21 days.
Sign your contract with your supplier
Your company accepts the conditions set out in a sales contract, negotiated with your supplier. The contract you sign will contain the agreed to deferred payment conditions.
Instigation of Credit limit
The PICC-guaranteed credit limit is instigated by your Chinese supplier. Using a credit limit with a range of exporters is possible, but $100,000 is the minimum sum you will use for each supplier.
Shipping of products
As soon as you have made a deposit for the goods, approximately 10 – 30% of the order's price, your products will be shipped. The excess fees will then have to be paid according to the deferred payment conditions you have agreed to.
Make the payment
You pay the remaining amount due for the products within the timespan of your deferred payment terms. The arrangement is guaranteed by PICC. They will ensure your supplier gets paid.
What is a PICC-guaranteed credit limit?
An authorized PICC-guaranteed credit limit is the uppermost number of trade credits available for your company that are granted to you by your Chinese supplier. This is shown in your electronic certificate, which stipulates how many trade credits you have after the investigation.
Your PICC credit limit certification will feature:
• Your uppermost number of credit limits • The agreed to credit period • Your business' name • The name of your Chinese supplier
Process required to be granted PICC-insured trade credits with suppliers
Present us with the financial statements that pertain to the last two complete years of your business activity financial. Axton Global's professionals will put together an approximate estimate of your likely credit limit.
Agree to our services
You sign an Axton Global contact which stipulates our services and hire our professionals to help set up your company's credit limit.
Checking and confirming the conditions of your PICC-backed credit limit, issued by your supplier is another one of our services. We achieve this by liaising with your supplier and PICC.
Arranging credit reports
Our professional consultants will arrange the critical paperwork that will make it simpler for you to pass your credit examination and be granted a credit limit.
The only payment needed for this is the credit evaluation fee.
Get your trade credits granted
Our experts will take the courses of action needed to get your credit evaluation started and make sure you are approved for your credit limit after the evaluation has taken place.
Our customers` geography
• United States • Canada
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• Argentina • Bolivia • Brazil • Chile • Colombia • Costa Rica • Dominican Republic • Ecuador • Guatemala • Mexico • Panama • Peru • Paraguay • Uruguay • Venezuela
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• Egypt • Israel • United Arab Emirates
• Ghana • Nigeria • South Africa
• Bangladesh • Cambodia • Hong Kong • India • Indonesia • Japan • Macau • Malaysia • Philippines • Singapore • South Korea • Sri Lanka • Thailand • Vietnam
Australia and Oceania
• Australia • New Zealand
Speak with us about your organization's needs. Fill the form and our manager will contact you shortly.
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This website contains information derived from publicly available sources and is for educational purposes only. Axton Global is in no way affiliated with insurance credit issuers or related parties, nor is Axton Global a representative or agent of such companies. No representations or warranties are made as to the accuracy of information pertaining to non-affiliated third parties that was obtained by publicly available sources. Please review our legal notice for more information