Are you regularly experiencing late payment or non-payment by your customers?
If you are constantly having cash flow problems due to bad debt and this is limiting the growth of your business and increasing stress, you may want to consider Trade Credit Insurance.
Do you have a few clients who represent a large proportion of your business income?
Would you like to access new markets but are reluctant to expose your business to the risk of bad debt?
All types and sizes of business can benefit from Trade Credit Insurance and you will have support from one of the world’s leading providers of this type of insurance.
What is Trade Credit Insurance?
Trade Credit Insurance provides protection against bad debt caused by insolvency, cash flow problems or political instability in overseas markets.
If one of your customers goes into administration and is declared bankrupt or insolvent or is having cash flow problems and the debt is outstanding for a protracted period, your insurance policy will protect you against loss of income. You are also covered in overseas markets where there is more risk from political instability.
In addition, as part of taking out Trade Credit Insurance, credit checks are carried out on your customers to establish their credit rating and provide a maximum limit your cover will support. This allows you the freedom to trade confidently up to this limit with new and existing clients.
Benefits of Trade Credit Insurance:
- By insuring your debtor book, you will improve the cash flow of your business. The policy works alongside your credit control and enhances it.
- You will be able to generate new business from markets you may have originally thought were too risky.
- Using the latest financial data on companies, our provider will be able to monitor your customers and assess their credit risk so you will be the first to know if there are any problems emerging.
- Our provider offers a reduced cost for debt recovery and legal expenses to help reduce the costs of getting your debt paid.
- You may be able to negotiate better terms with your suppliers because they can be more confident that your business will not fail due to a bad debt.
- It may be possible to obtain more funding on better terms from your bank because they will be assured that your business debt is secured by your insurance policy.
- No more sleepless nights. Taking out a Trade Credit Insurance policy takes the worry out of bad debt.
- We meet all new clients prior to the start of the policy so that you know exactly what is covered and how it works.