What is trade credit?
Your business incurs commercial credit risk every time it extends credit to your customers. Whether you extend one day terms, standard thirty day terms or offer extended payment terms, you lose control of the receivable almost from the moment you create the invoice.
Trade Credit Insurance is a guarantee subject to the terms and conditions of the policy that you, the seller, will be paid for the merchandise shipped or services rendered to your customer in the event they can not pay due to insolvency. Past due or slow paying accounts (protracted default) can also be included in most programs.
What does it cover?
Credit Insurance covers the unpaid credit balances from sales made to your insured customers located in the USA, Canada or over 120 countries world-wide. Political risk exposure, currency inconvertibility and contract cancellation can also be covered.
What can it do for you?
Insured receivables will allow you to borrow more, usually at better rates. The access to additional working capital can help you grow into new markets or introduce additional product lines. You will sleep at night, knowing that you will be paid for what you sell, and that your bottom line is protected against the unexpected loss.
You will be able to sell more to existing customers or bring in additional new customers sooner. Our access to information becomes an additional credit information resource for you. Partner with us to build your business safely.