Sri Lanka Export Credit Insurance Corporation (SLECIC)
Last updated on 26 Feb 2024

Key facts


State-owned statutory body operating under the Ministry of Finance and Planning. It provides trade credit insurance and guarantee in support of Sri Lankan exports.

Level 4, NDB-EDB Tower, No. 42
Nawam Mawatha
Colombo
Sri Lanka

+94 112 307 519-523

www.slecic.lk
PUBLIC
1978
Credit rating (S&P)
SD
CCC+
Foreign currency
Local currency

Berne Union

Country trade data


2021 top export sectors

Textiles and clothing
46%
Vegetable products
18%
Plastic or rubber
9%
Food products
6%
Machinery/electrical
4%

2022 export destinations

Europe

34 %

Americas

32 %

Asia

29 %

Oceania

2 %

Africa

2 %

Financing modalities


`
Up to 90%

Products


  • Export credit insurance policies available for all exporters in all industries
  • Policies may be endorsed to lenders as collateral for working capital
  • Supplier credit products:
    • Whole turnover, single-buyer, and multi-buyer
    • Country-specific (multi-buyer)
    • Political risk only in a single country
    • Global cover available to offshore export companies domiciled in Sri Lanka
    • Subsidiary risk covers foreign subsidiaries of Sri Lankan companies
    • Covering ultimate buyers for indirect exporters domiciled in Sri Lanka
    • Consignment of stocks
    • Entrepôt trade insurance (port insurance)
    • Comprehensive service policy for Sri Lankan service exporters
    • Domestic insurance covers commercial risks for intra-Sri Lankan trade
  • Short-term guarantee issued to lenders providing trade credit solutions against risk of non-performance of Sri Lankan exporters
  • Products:
    • Pre-shipment credit guarantee allows exporters to purchase raw materials against L/C or confirmed orders
    • Export production credit guarantee applicable to indirect exporters
    • Export performance guarantee for bid and performance bond support
    • Export performance guarantee covering ATA carnet to facilitate temporary exportation of valuable items for trade fairs and exhibitions; covers non-payment of import duty to foreign countries as a 100% demand guarantee
    • Export performance guarantee to freight forwarders covers non-payment of airlines charges up to 85%
    • Whole turnover bank guarantee covering the cost of passage to facilitate Sri Lankan migrant workers obtaining pre-departure loans
  • Buyer information: Speedy and accurate information to bankers and other financial institutes to evaluate overseas buyers in order to extend financial facilities to exporters
  • APARA: A guarantee issued to commercial banks covering the flight expenses and other related expenses of Sri Lankans going abroad for work

Policies


  • Options available to exporters for single- or multi-buyer policies
  • Cover available for direct and indirect exporters
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