Trade Credit Insurance Scheme (TCIS)
Published by Enterprise Singapore
on 29 Nov 2019
Trade Credit Insurance (TCI) is an insurance protection that your company canpurchase to protect itself against non-payment by your buyers, 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.
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.
Your company needs to fulfil the following criteria:
- Business entity is registered and physically present in Singapore, i.e. incorporated in Singapore with the Accounting and Corporate Regulatory Authority of Singapore (ACRA)
- Have a minimum of 30% local shareholding
- Maximum group employment of 200 employees or maximum group revenue of S$100M
Approach a Singapore-registered TCIS broker/insurer to structure and purchase your TCI policy.
Should your company qualify for support under TCIS, the broker or insurer will assist you in the submission of your application for TCIS premium support to Enterprise Singapore.
For More Info
230 Victoria Street #10-00
Bugis Junction Office Tower
1 Fusionopolis Walk
#01-02 South Tower, Solaris,
Email : email@example.com
Hotline : (65) 6898 1800
* Support under TCIS will be up to the qualifying Applicant Company’s portion of minimum premium for the TCI Policy.