What is Trade Credit Insurance?
An insurance that covers a seller against the risk of non-payment from their corporate buyers. Trade Credit Insurance cover both export and/or domestic credit.
What it covers?
Commercial Risks
Protracted Default
Insolvency
Political Risks
Coverage is extended to Government Moratorium, War, Transfer Delay, Contract frustration, Public Buyer Default,Discharge of Debt
Why Trade Credit Insurance
- Avoid unexpected losses
- Protect your cash flow
- Grow your business safely
- Secure favorable financing terms
- Access to buyer/sector risk insights
- Increase competitiveness of your business
- Boost your confidence to explore new markets/buyer
- Reduce the need for letters of credit (LC)
The Concept of Whole Turnover
Coverage is for sales on Open Account (OA) or with Credit Terms/Unsecured
Coverage is for Business-to-Business (B2B) only
Coverage is for Short Term Receivables Only (credit terms180 days or less. i.e. 30,60,90 days)
Whole Turnover (only Credit sales)
Domestic, Export or Both
Main Exclusion
- Sales under advanced payment or secured terms
- Sales to associated companies or individuals
- Domestic sales to government entities
- Loss from currency fluctuations
- Disputes
Have a question? Speak to our friendly agents.
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