What is Sinosure China?

by Axton Global
Sinosure China is one of the leading Export Credit Insurance providers. Whether you are an experienced importer or starting collaboration with Chinese suppliers, Sinosure can be a game-changer for your business. In this guide, we'll explore what Sinosure is, its benefits, and how you can use the Sinosure export credit insurance services to optimize your international trade ventures.

Sinosure Meaning

Sinosure, formally known as the China Export & Credit Insurance Corporation, was founded in 2001 as a state-owned agency. Its primary goal is to provide support to Chinese manufacturers involved in international trade. By offering export credit insurance, Sinosure plays a crucial role in safeguarding suppliers in China against non-payment issues when exporting goods to global markets. As the result, Sinosure empowers Chinese enterprises to expand globally with confidence, knowing that their interests are well-protected.

Advantages of Sinosure for Importers

For importers around the world, Sinosure credit insurance is a big deal because it makes their business operations smoother. When companies enter into contracts with Sinosure coverage, they gain the flexibility to order goods from Chinese suppliers and negotiate agreements with deferred credit terms for payments.

Under Sinosure guarantee, Chinese suppliers may extend deferred payment terms to their international buyers, typically spanning a period of 90 to 120 days.

This tool offers a significant advantage for importers because it means they don't have to pay upfront. This flexibility enables importers to adeptly manage their cash flow, ensuring seamless financial operations while they wait for the goods to arrive from China.

Today, more than 100 countries have businesses involved in contracts covered by Sinosure insurance. Sinosure has given its accreditation to 10,000 to 50,000 importers in each country, which shows its significant role in facilitating international trade.

Advantages of Sinosure for China Sellers

In China, Sinosure provides a crucial advantage to Chinese exporters by offering insurance against buyer non-payment. This solution enables suppliers to confidently extend deferred payment terms, thereby fostering increased trade turnover with foreign partners. Sinosure's insurance coverage extends across both political and commercial risks, serving as a safety net against the uncertainties that can accompany international transactions.

Today, Sinosure actively supports the export initiatives of over 250,000 Chinese factories. With a valid Sinosure insurance policy, these factories can comfortably offer extended credit terms to their international partners and establish robust relationships with new overseas importers.

Sinosure Network in China

The reach of Sinosure insurance extends across China, as it has strategically established a comprehensive network of branches and offices throughout the entire territory. This coverage ensures that factories in any region can easily access the necessary support and Sinosure services.

While its main hub is in Beijing, Sinosure has branches in various provinces, including Anhui, Chongqing, Fujian, Guangdong, Guangxi, Hebei, Heilongjiang, Henan, Hubei, Hunan, Jiangsu, Jiangxi, Liaoning, Niangin, Ningbo, Shaanxi, Shandong, Shanghai, Shanxi, Shenzhen, Sichuan, Tianjin, Xiamen, Xinjiang, Yunnan, and Zhejiang.

This widespread presence proves Sinosure's commitment to providing accessible and localized support to businesses across China.

How Sinosure China Works

Sinosure operates in China by providing insurance coverage to Chinese exporters against the risk of non-payment for goods exported to foreign markets. This coverage extends to both short-term and medium-to-long-term export credits. In addition to credit insurance, Sinosure offers financial solutions, risk management tools, and support services to help businesses navigate the complexities of international trade.

How to Apply for Sinosure Coverage

The primary objective of Sinosure insurance is to facilitate prompt payment for Chinese factories from international buyers, especially when products are delivered with deferred payment terms. This insurance coverage specifically addresses commercial loans extended by a Chinese exporter (policyholder) to foreign buyers.

The application process involves three key parties: the Supplier, also known as the Seller or Exporter; the Buyer, referred to as the Importer; and the insurance company, Sinosure.

Here are the well-defined steps to engage with Sinosure insurance in China:

1.  The Supplier (Exporter) initiates the process by either opening a new Sinosure insurance policy or using an existing one.

2. The Buyer (Importer) undergoes a comprehensive Sinosure investigation procedure.

3. Sinosure evaluates the Importer's creditworthiness and assigns a Sinosure credit rating along with a predefined credit limit.

4.The Supplier registers the agreement with Sinosure, formalizing the insurance coverage.

5. Insurance coverage is extended to protect the invoice related to the transaction.

6. The Importer provides an upfront deposit, typically ranging from 10% to 30% of the order value, to the Supplier.

7. The Supplier proceeds to manufacture and ship the goods to the Importer, before receiving full payment.

8. The Importer takes possession of the goods under a deferred payment arrangement, typically spanning a period of 90 to 120 days.

9. Post the expiration of the deferral period, the Importer settles the outstanding debt owed to the Supplier.

This strategic and well-structured process not only safeguards the interests of the Chinese exporter but also ensures a smooth and secure flow of international trade. By integrating Sinosure insurance into these transactions, businesses can navigate the complexities of global trade with increased confidence and reduced financial risks.

Sinosure Case Studies

Explore real-life case studies that show how importers worldwide can deal with Sinosure China. These stories highlight how Sinosure has been a game-changer for businesses, allowing them to overcome challenges and build strong relations with overseas partners.

Sinosure Brazil
Sinosure Italy

We help importers from all over the world to improve their trading terms with Chinese suppliers and extend payments to the supplier for 90 to 120 days using the Sinosure credit insurance tool

We help companies to obtain a new Sinosure credit limit, increase existing credit and provide comprehensive consulting services regarding Sinosure credit insurance
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