Trade credit insurance

Trade credit insurance protects the policyholder (the vendor) against non-payment by the buyer(s) for goods they have received in accordance with the relevant trade contract or agreement.

Trade credit insurance helps provide a secured revenue stream and assurance to bankers.

We arrange two forms of cover:

Whole turnover: on an excess of loss basis to give protection against payment default by all buyers.

Single situation: to protect revenues arising from a single relationship with a buyer. This tends to be a sizeable customer, sometimes 'ex governmental'.

Coverage includes:

• Buyer insolvency
• Protracted default

The policy can also be extended to cover currency inconvertibility and exchange transfer, when the buyer is overseas.

Standard policy features:

• Co-insurance of 10%
• Pre-agreed credit procedures
• Waiting periods
• Cease shipments clause

Proposal forms:

To download a proposal form or credit procedures document please click on the relevant form:

Credit procedures questionnaire click here.

Proposal form for whole turnover credit risk insurance click here.