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HSBC offers tools and services that reduce some of the financial risk associated with your export activities. Included here is information about export credit insurance, contract bonding and international guarantees, pre-shipment finance, confirmed letters of credits, and Trade Invoice Non-Recourse Financing Facility (TINRFF).
To discuss your international Trade and Supply Chain needs,
call us at 1-866-808-HSBC (4722)
or use our branch locator to find the HSBC branch in your neighbourhood.
Export Credit Insurance
Instead of using import letters of credit, some exporters choose to trade internationally on an open-account invoice basis. HSBC offers credit risk insurance to protect against non-payment of receivables in these circumstances.
Companies that export on Open Account terms should consider taking out export credit insurance to protect themselves from the risk of non-payment by their foreign buyers. Often this will be a pre-requisite to obtaining financing from the Bank. Locally, Export Development Canada (EDC) provides an Accounts Receivable Insurance program that protects the exporter against non-payment of their accounts receivable for up to 90% of losses resulting from a wide range of commercial and political risks. HSBC is the largest user of EDC’s A/R Insurance program, testimony to our strength in financing international trade. We also work with other private insurance underwriters to find the solution that will work best for your company.
