What is Trade Credit Insurance?
Trade Credit Insurance protects your business against commercial and political risks which are beyond your control. It helps you improve the quality of your business and increase profitably, minimizing the risk of sudden or unexpected customer insolvencies. Credit insurance enable you to extend trade credit to new customers, improves access to funding at more competitive rates.
How Does it Work?
Credit insurance protects your Business against the Non-payment of the customers on Credit Terms. These debts can arise following a customer failing to pay within the agreed terms and conditions (Protracted Default) or becoming insolvent.
How it Covers:
- Underwriters assess the buyers and approve based on the financial information available and past trading experience.
- Depending on the number of buyers and the comfort of internal credit control process, the policy holder gets discretionary limit amount which enables them to auto insure the buyers under that approved exposure level. Over and above that level, the buyers will be assessed by the underwriters.
- The policy offers flexibility of adding/removing/increasing as many buyers as required during the policy period.
- Policy holder needs to declare sales turnover and overdue reporting based on the due dates and agreed extension terms.
MNS associate offers you credit insurance advisory services in order to protect your receivables against various commercial and political risks. Thus ensuring they don't result in non-payment of your invoices.
The credit insurance advisory services, indeed, are designed to meet the needs of all types of companies, ranging from mid-sized to large multinational corporations anywhere in the world. All thanks to MNS' tie-ups with the market leaders in the credit insurance broking that provide tailor-made credit insurance solutions at the most competitive prices.