Trade Credit Insurance
Provides compensation to the seller of goods or services if their buyer fails to pay, either through insolvency or protracted default. Policies are designed on a sales turnover basis.
- Single Contract
- This policy provides coverage for a single, specific trade contract. It ensures that the seller is protected for the duration and terms of that contract.
- Domestic / Export
- This policy can be tailored to cover trade receivables from domestic sales, international exports, or both.
- Political Risk
- This policy specifically covers losses resulting from political events that affect a buyer's ability to pay. This includes war, government actions, expropriation, and other political disruptions.
- Special Risks
- This policy covers unique or extraordinary risks not typically included in standard trade credit insurance. These might include specific industry risks, unusual
Information/Documents needed for Trade Credit Insurance
- Business name, address, and contact details
- Nature of business and industry sector
- Financial statements (e.g., balance sheet, income statement)
- Trade Receivables Information
- Credit Management Policies
- Preferred Coverage
- Claims History
- Additional Documentation
