What is Trade Credit Insurance?
How does credit insurance work?
Trade credit insurance is an effective financial risk management tool that safeguards your company against losses sustained arising from non-payment of trade related debts. Credit Insurance ensures that your company is not adversely affected by the unforeseen failure of one or more of your customers; it is also a tool to help you manage your credit risks. It enables you to:
- Access to credit expertise and market knowledge from a worldwide leader in credit insurance.
- Effective, professional assessment of the financial situation of your customers,
- Indemnification of your unpaid debts
- Global debt collection services available worldwide for debt recovery
HOW COFACE TRADE CREDIT INSURANCE CAN HELP YOU PREVENT NON-PAYMENT OF INVOICES?
- Anticipate and resolve payment arrears from a customer;
- Benefit from the quality and strength of Coface’s prevention;
- Receive personalised advice from a Coface expert present in your market;
- Focus on growing your business.
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BENEFITS OF TRADE CREDIT INSURANCE
- Growth in Sales - With trade credit insurance products, you can boost your sales by offering favorable credit terms to debtors or prospects and you can also avoid the hassle of using letters of credit when doing business abroad.
- Cash Flow Relief -Trade credit insurance provides cash flow relief, when debtors become insolvent or are unable to pay bills on time. Losses can be indemnified, allowing your business to maintain its cash flow.
- Access to Financing - Lenders and financial institutions look favorably on insured trade receivables.