Canadian companies are often asked to pay international and Canadian suppliers up front for capital and quasi-capital goods. When the supplier can’t fulfill their obligation and can’t return any advance payments made before shipping, EDC Advance Payment Insurance (CapEx) covers up to 90% of your financial losses.
Explore a new relationship with a potential supplier for your capital and quasi-capital purchases without worrying about losing your advance payment.
Enable access to financing from your financial institution for up-front payments when you allow your financial institution to receive approved claim payments directly from EDC.
You don’t receive the return of your advance payment because:
EDC is dedicated to supporting Canadian businesses during the COVID-19 pandemic.
We’ve adjusted EDC Advance Payment Insurance (CapEx) so that until December 31, 2021, EDC will consider insuring advance payments made for personal protective equipment (PPE) and related COVID-19 medical supplies.
Things can happen out there that are beyond anyone’s control. I would absolutely recommend this when making large purchases overseas which require deposits before you receive the goods, it definitely adds a layer of security and confidence.
Ceramic flower pots
Key foreign markets
In business since
If you’re new to EDC, please contact us weekdays between 9 a.m. and 5 p.m. ET.
Or send us a question and we’ll get back to you as soon as possible. Send a question.
If you’re an existing customer, please contact your EDC account manager about any additional support you need.