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How Does Trade Credit Insurance Work ? When Will Trade Credit Insurers Pay My Loss?

Updated: May 25, 2022

How Does Trade Credit Insurance Work?

Trade Credit Insurance is a contract between You (the Insured) and the Insurer to pay You when a pre-agreed Third Party fails to deliver goods or services or pay for goods or services according to a commercial contract after following Insolvency or Default after a Waiting Period and Political Risks such as Contract Frustration, Embargo and War..

8 Steps to Payment of a Loss:-

Policy/Contract Agreed with Insurers;

  1. Premium/Fee Paid to Bind Contract With Insurers;

  2. Loss is from an Agreed Buyer/Supplier;

  3. Goods and/or Services Delivered to the Buyer or Paid to Supplier;

  4. No Payment or Delivery of Goods/Services;

  5. Buyer/Supplier Insolvent;

  6. Third Party Denies Liability;

  7. No Payment after Waiting/Cure Period

We have 35+ years of Proven Specialist Experience Helping Companies with their Trade Credit strategy. We Risk Consult, Advise and Act as your Independent Specialist to Arrange, Manage and Secure Insured Losses from Insurers. We are also an FCA regulated Authorised Representative of Lloyds Broker Bellwood Prestbury and can approach insurers on your behalf.

Insolvencies and protracted default is increasing, why not explore what works for you?

Trade Credit Insurers pay for Losses. If you are in doubt check and contact us for a free confidential overview +447979801237 or go to our website to Find Out More

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