Is declaration on shipment/services a must?

    Online Micro-Business Policy (OMBP) / Self-Underwritten Policy (SUP):

    Declaration on shipment/services is not needed, but supporting documents on such shipment/services should be submitted when lodging claims.

    Small Business Policy (SBP):

    You must declare to us all exports and re-exports from Hong Kong and from the countries (or places) of shipment specified in Schedule II under payment terms of DP, DA or OA with a credit period of not more than 120 days (except shipments made to those buyers on which ECIC has refused cover in writing). For shipments concluded on credit terms such as “Cash Against Document” and “Documentary Sight Draft”, please declare to us on DP term of payment. If your buyer makes T.T. payment (Telegraphic Transfer) to you after you have made the shipment, please declare such shipments to us on OA term of payment. Under the terms of Policy, all such insurable exports are to be declared, and thus is regardless of whether or not you hold a credit limit on such buyers. You are therefore reminded to apply for credit limits on all your buyers.