Trade Credit Insurance (TCI) is an insurance protection that your company can purchase to protect against non-payment by your buyers, thus allowing you to acquire new customers with greater confidence. The Trade Credit Insurance Scheme (TCIS) defrays the cost of insurance for companies by supporting part of the minimum premium payable.
Benefits
If your company qualifies, Enterprise Singapore can support up to 50% of the minimum insurance premium for TCI policies provided commercially by Singapore-registered credit insurers. This is subject to a maximum lifetime support of S$100,000 per qualifying Applicant Company.
Eligibility
Your company needs to fulfil the following criteria:
- Global headquarters1 anchored in Singapore
- Turnover of Applicant Company and its subsidiaries should not exceed S$100
- A minimum paid-up capital of S$50,000