Trade Credit Insurance Scheme (TCIS)
Trade Credit Insurance (TCI) is an insurance protection that your company can purchase 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 fulfill 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