Updated: Jan 18
What is Trade Credit/Non-Payment Insurance? What Does It Cost?
Trade Credit/Non-Payment Insurance is a contract with a Specialist Insurer who agrees to Pay a Company Following Non-Payment of an Invoice
The Cost is calculated as a percentage of the Sum Insured/Limit and varies according to your Track Record the time to Pay and Financial Strength of the other Company(ies)
Losses are settled after a pre-agreed Waiting Period/Cure Period (Protracted Default) or following the Statutory Bankruptcy or Insolvency of the other party.
Trade Credit / Non Payment Insurance will Pay for a Loss from Pre-Agreed Contracting Parties with You the Insured. Insurers usually require you Retain part of the Loss for their own risk.
Holtarka has 35+ Years Award Winning Experience Risk Consulting, Structuring and Insurance Broking for Companies Buying, Supplying or Trading Worldwide. We give an Independent and personal service with Specialist Insurers which includes Claims and Recoveries for our clients. We are a FCA approved Authorised Representative of Lloyds Broker Bellwood Prestbury (www.bellwoodprestbury.com)
Insurers can offer several types of Policy including Single Contract, Named Buyers or Suppliers, Whole Turnover or Excess of Loss. Non-Payment by Governments, Government Owned Businesses (Contract Frustration) or Due to Sanctions or Embargo with Force Majeure can be included.
The Non-Payment Policies can be used as part of your Enterprise Risk Management and are recognised by Banks and Alternate Financiers as Risk Mitigants enabling lending as an alternate to secured borrowing or with Letters of Credit, Bonds or Guarantees.
Trade Credit Insurance is a proven product which can include losses from Default, Political Risks and Supply Chain breaks, Insurers Pay Losses every year in the USD Millions.
We Can Help You so call +447979801237 for a Confidential and Free Initial Chat or check www.Holtarka.com for more information.
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