TMB Export Flexinsure

CORPORATE ธุรกิจที่มียอดขาย เกิน 500 ล้านบาท ต่อปี

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TMB Export Flexinsure is the Post Shipment Finance for the exporter doing business by using the method of payment as Bills for Collection – B/C or by Open Account – O/A. It is a co-operation with EXIM Bank in non payment risk assurance from buyers. The exporter has to make a request to the EXIM Bank to verify the status of overseas buyers before accepting the insurance process and transfer his claim on the insurance policy to TMB as direct beneficiary.

Ensure the receipt of goods payment because the Export Credit Insurance (ECI) is made for every export transaction.
In the case that the buyer refuses to make payment,
the EXIM Bank shall take recourse effective from the date
of claim made by the exporter within 120 days. The coverage
is made up to 90% of the loss that may occur.
The Post Shipment Finance is received at the highest rate which is equal to the Post Shipment Limit or Buyer Limit, according to the insurance policy.
Because the Bill of Exchange (BE) under
TMB Export Flexinsure could be sold at the discount rate.
You have an ability to sell the BE under TMB Export Flexinsure with low interest rate as considered by the Bank.

Who can reap the benefits of TMB Export Flexinsure?

Thai exporters or sellers who conduct international trade
Customers who are expanding ther businesses or opening a trade dialogue, but are not familiar with Non L/C (O/A , B/C) payment terms
Customers who are wishing to lower their operational risk as the Export Credit Insurance (EIC) ensures the receipt of good payments for every export transaction
Customers who are in good standing with the Bank

Features
Service Conditions
Credit usage procedure
More Information

Product and Service Features

Apart from the credit line and the insurance coverage provided under the TMB Export Flexinsure program, the Bank also facilitates customer’s business with our one-stop services such as :

1) General information and data management service for commercial transactions

1.1 Cover every export transaction under the policy terms, follow-up with the
export conditions and trade transactions and control credit line of the buyers.
1.2 Verify and report the transaction movement for the monitoring of the overdue
payment and the payment follow up.
1.3 Notify customers of insurance claim and follow-up with EXIM Bank to
make sure customers receive the coverage during the due period of the
compensation follow-up.

2) Delivery Service

One-Stop Service Center for document delivery after the Bank purchases / purchases at the discount rate of export bills under the TMB Export Flexinsure with the lower rate than what the customers obtain at present.

Features
Service Conditions
Credit usage procedure
More Information

Service Conditions

The borrower has to take out the Export Credit Insurance (ECI) to cover the whole turnover with EXIM Bank.
The borrower has to sign in the loan contract that the loan generated under TMB Export Flexinsure shall be utilized as working capital only for the group of debtors covered with the risk assurance.
The borrower has to submit the original or the copy of the Export Credit Insurance Policy (ECI) and the compensation ownership transfer to the Bank, stating that the Bank is the beneficiary according to the policy.
The borrower has to possess an account with TMB.
The following documents are required upon loan withdrawal.
- Bills for Collection (B/C) , documents required are :
  - Collection Instruction for Discount / Purchase of Export Bill, Open account under Export Credit Insurance (ECI program)
  - Invoice
  - Transportation Document eg. B/L, AWB, Truck B/L, Railway B/L
  - Bill of Exchange (B/E)
  - Copy of the Insurance Policy
- Open Account (O/A) , documents required are :
  - The forms of Application Collection Instruction for Discount / Purchase of Export Bill, Open account under Export Credit Insurance (ECI program)
  - Invoice
  - Transportation Document eg. B/L, AWB, Truck B/L, Railway B/L
  - Copy of the Insurance Policy
In case of loan withdrawal, if the borrower has a loan obligation before shipping goods (Pre-Shipment Finance), he shall use the loan to debit the pre-shipment obligation according to the following detail
- In case that the Pre-Shipment is O/D for Buyer, the O/D obligation will be deducted at the red amount shown in the O/D Account, the left balance will be put into the Savings Account or other specified account.
- In the case that the Pre-Shipment is Packing Credit, the P/C obligation will be normally deducted whereas the left balance will be put into the Savings Account or other specified account.
- Every export transactions with TMB Export Flexinsure have to be assigned TMB as money collector or money has to be transferred via TMB if using Open Account ; O/A as the payment method.
The borrower has to submit the report as required by the Bank in order to be eligible to the export insurance coverage. The insurance will cover only for the reported items and the obligation within the insurance limit. Each borrower shall perform the liability balance not exceeding the buyer credit specified in the insurance policy.
- The required reports to be submitted to the Bank
  - The monthly export report
  - The overdue report
  - The payment report
Duration of compensation claim
- D/P, O/A Sight within 150 days from the Negotiation Date
- D/A, O/A Term within 150 days from the Due Date
- The compensation payment
  - case 1
  The buyer is bankrupted: EXIM Bank shall pay right away incase of clear proof.
  - case 2
  The buyer refuses payment/ other cases : EXIM Bank shall pay within 120 days from the date of compensation claim submission.
  - case 3
  The buyer refuses to receive the goods: EXIM Bank shall pay within 30 days after selling goods to other parties.
The Bank reserves the right to notify EXIM Bank about the compensation claim on behalf of the customers if not receive notification from customers within 30 days after the payment due date.