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Trade Credit Insurance Scheme (TCIS)

Trade Credit Insurance Scheme (TCIS)

The Trade Credit Insurance Scheme (TCIS) was introduced by Enterprise Singapore on 1 February 2011 to educate Singapore based companies on the benefits of using trade credit insurance as a financing and risk management tool to mitigate their buyers’ default risks. With added protection through trade credit insurance, companies can be better protected against their counterparty risks and be more confident to explore new markets and buyers.

Trade Credit Insurance Scheme (TCIS)

Subsidy of insurance premium:

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.

Qualifying criteria:

Your company needs to fulfil the following criteria:

  • Global headquarters1 anchored in Singapore
  • Turnover of Applicant Company and its subsidiaries should not exceed S$100M
  • A minimum paid-up capital of S$50,000
1 Global headquarters refer to global management control and decision making functions are based in Singapore. Indicators include global C-suite executives being based in Singapore; board meetings being held in Singapore, etc.
* Support under TCIS will be up to the qualifying Applicant Company’s portion of minimum premium for the TCI Policy.

How to apply?

As your credit insurance broker, NCI will coordinate with Enterprise Singapore to organise the 50% of minimum premium subsidy. Enterprise Singapore will then disburse the subsidy to the qualified Singapore company.

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