Developing the market becomes more and more difficult today without the trade credit you grant to your customers. Most of the companies trust the word of their business partners and believe the apparently impressive figures on their balance sheets – and are often left ruing the day they signed the contract. Customers teetering on the edge of insolvency are not the only uncertainty factor. The market full of promise often comes with many other uncertainty factors, which makes the trading practices more difficult – in short, reliable information about the ability of business partners to pay and economic competence are more in demand than ever.
The Credit Insurance covers for Bad Debt or Non-payment of account receivable (AR) arising out of trade, which is a good way to take away your worries.
- Insolvency (or equivalent in local jurisdiction)
- Protracted Default (Non-payment at 180 days from reporting day)
- Expert experience on credibility evaluation on buyers, helping insured to build up a solid financial system.
- Reduced bad debts, secured financial liquidity and indemnification in time when loss occurs.
- Balance the benefits and concerns of Sales and Financial sectors within the company.
- Protection of cash flow.
- More secured advantage over competitors with more secured new deals.
- Help to develop the market and select fine new customers based on the buyers’ credit checking.
- Bonded AR financing facilities on limited recourse basis.
( Importance Notice: For detailed information, please refer to the policy )