Corporate Risk EDC requirements
To assess whether a financing proposal can be approved, EDC analyzes the export transaction and the credit worthiness of the borrower/investor. To conduct this financial analysis, EDC will require the following information:From the Borrower/Investor:
- At least three (3) years of audited financial statements and interim reports;
- Company profile and key clients;
- Bank reference;
- In some case, available security or guarantee;
- The financial preference: currency, length of the credit, fixed or floating interest rate.
From the Canadian exporter:
- A copy of the commercial proposal or draft contract;
- Information on the relationship with the buyer and the market;
- Information on the exporter’s competitor(s) for this transaction and suspected financing being offered (if available);
- Information on the products being exported, and estimate of the contract, and the expected terms of payment, the expected terms of delivery, and a delivery schedule;
- On a case-by-case basis, the exporter may be requested to complete a Canadian Benefits Report.
EDC may require more information depending on the specifics of the transaction.
To find out more, contact us today, or call 1-866-283-2957 weekdays between 8 a.m. and 6 p.m. EST.
