Trade credit insurance is a financial guarantee which protects companies against the risk of default. Trade receivables can represent up to 40% of the balance sheet of a company. With the increase in payment delays and the number of outstanding payments, it is important to know the advantages and benefits of having credit insurance companies .
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Increase your Businness
Credit insurance gives you the opportunity to develop your sales with new customers or one new markets.
You can accept new orders more easily because you are certain that your invoice will be paid.
You improve responsiveness by accepting new orders immediately.
Grow your business be able to rely on getting paid.
You benefit by continuous monitoring of the financial condition of your customers and prospects.
You gain access to information on the potential of your customers and your marketplace.
Improve responsiveness rates during the processing of new orders.
Improve risk management
With a credit insurance policy, you get guaranteed protection against non-payment or slow payment.
You get the reassurance that all your invoices will be paid even if your customers default.
Therefore, you can reduce your risk when your company grows or explores new markets.
Increase funding and borrowing
Your company can obtain better borrowing terms or larger amounts with the security that credit insurance provides.
It is possible to delegate to a bank credit insurance contract in order to more easily obtain a financing line or increase credit line more easily.
Optimize unpaid debts recovery
You will be relieved of debt collection task.
If you don’t get paid for the products and services you deliver to you customer, pre-legal action and legal actions are supported by the credit insurance company.
Through a professional debt collection company, you will increase your chances and your level of recovery of unpaid debts. You can focus completely on your heart business.
Ypu minimise the costs of your administration.
Credit insurance policy covers claims on UAE but also in other countries. In addition to protection of the commercial risk, it is possible to get coverage on disaster risk and political risk.
Deterrence against defaulters
By entrusting a credit insurer to cover your unpaid invoices, you will make sure that undesirable publicity of unpaid invoices is limited and that the defaulting client’s reputation is protected. Your defaulting customer should act quickly to avoid being listed as “deadbeat” from banks or financial institutions.