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FREQUENTLY ASKED QUESTIONS |
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Who is BECI?
This is an acronym used to refer to Export Credit Insurance and Guarantee
Company Botswana. BECI started operating in 1996 as a wholly owned subsidiary of
Botswana Development Corporation (BDC)
Is BECI a parastatal?
No. Beci is a private company wholly owned by BDC.
What is credit insurance?
Credit insurance is insuring your business when selling on credit, against
the risk of loss due to non-payment by the customers.
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How can BECI help my company?
When your company`s credit transactions are covered by BECI, the risk of loss
through bad debts is highly reduced.
BECI credit checks each of your buyers to see if they are credit worthy, and BECI
will give advice to your company.
BECI pays in event of a claim, there by reducing the level of bad debts.
Open credit terms allow your business to grow. The buyer`s resources are not tied
by more stringent payment terms, therefore they are able to buy more. This results
in increased sales.
BECI policy can be ceded to the bank and be used as security where the policyholder
has a loan or overdraft facility with the bank.
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Does BECI cover only exports?
No, BECI covers credit sales made in the local market as well.
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Why should I insure my good customer with you -there is no risk in dealing with
them? Or
I trust my buyers, why should I insure them with you?
Since risk can not be calculated or predicted, everyone in business is at risk,
even your most trusted customers. In business we can not afford to make judgement
on subjective grounds.
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Does BECI cover credit sales of goods and services?
Yes! BECI covers businesses dealing in both goods and services.
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IF YOU HAVE ANY QUESTIONS OR NEED MORE EXPLANATIONS ON THE ANSWERS ABOVE, PLEASE
CALL BECI`S MARKETING DEPARTMENT.
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