Textile importers facing high loan delinquency

This year, the U.S. sub-loan crisis, especially in the second half of the global financial turmoil, textile enterprises are facing importers paid in arrears, bad debts increased exports, rising default rate increase and other issues, a lot of Wuxi Textile enterprises started to guard against risk on The most important position, the more carefully in the face of potential export risks, through various channels to ensure the safety of export. Among them, export credit insurance to deal with export insurance is an important channel for risk.

Not long ago, Yixing largest textile exporters, has been a default reseller of the United States paid 40 million dollars, it’s hard on their textile enterprises anxious lost in a fog, the good news is that they put in “short-term export credit insurance,” immediately Insurance companies reported a case, insurance companies Xianhangpeifu 300,000 U.S. dollars, investigation and evidence, the seat of U.S. companies to prosecution, to recover arrears. Although the proceedings are still under way, but because insurance companies Xianhangpeifu to help the enterprises overcome the difficulties.

Although the export credit insurance companies can raise foreign exchange, but a lot of export business has not used the export business. In response, the industry pointed out that the business debt, high foreign debt collection costs, most companies will not pay for the recovery. As a result, the short term, export enterprises should strengthen risk prevention awareness, strengthen cooperation with overseas customers, to make full use of credit, the exchange of information industry, participate in the exhibition, called on customers to track overseas customers such as Credit dynamic and active The use of various types of risk transfer and control tools for the existence of the orders may choose to credit risk insurance to reduce the risk of foreign exchange. Enterprises should also step up export to guard against the risk of information communication, close business and the relevant government departments, as well as banks, credit insurance sector credit to communicate in a timely manner to provide early warning of risk information. Finally, companies need to strengthen management, improve the export risk prevention mechanism to enhance export to guard against risks.