What is Trade Credit Insurance?
How does credit insurance work?
It is an effective financial risk management tool that safeguards your company against losses sustained arising from non-payment of trade related debts.
Credit Insurance ensures that your company is not adversely affected by the unforeseen failure of one or more of your customers; it is also a tool to help you manage your risks.
- Access to credit expertise and market knowledge from a worldwide leader in credit insurance.
- Effective, professional assessment of the financial situation of your customers,
- Indemnification of your unpaid debts
- Global debt collection services available worldwide for debt recovery
HOW COFACE TRADE CREDIT INSURANCE CAN HELP YOU PREVENT NON-PAYMENT OF INVOICES?
WHAT IS THE IMPACT OF AN UNPAID INVOICE ON YOUR TURNOVER?
25% of bankruptcies are due to unpaid invoices
You grant payment terms to your customers every day. And because it’s a routine way of doing business, you may not be thinking about the risk you’re taking.
But what happens when a customer defaults? When a business closes down? When a government suddenly forbids transfer of payments or declares a devaluation?
You might have never experienced any of these situations before, but you ought to know that 25% of bankruptcies are due to unpaid invoices.
How much of your total assets do unpaid invoices represent – and merit protecting?
AND YOU ? DO YOU KNOW THE IMPACT OF AN UNPAID INVOICE?
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See how our clients have benefited from Coface credit insurance protection in different size of trade and sector.
Cofanet: an online application to serve clients
Coface provides clients with Cofanet, a secure online guarantee management space.
It enables each client to identify its buyers, see the total volume of guaranteed risks outstanding, report losses and monitor the indemnification of unpaid invoices, all in just a few seconds.
Cofanet also offers Debtor risk assessments, export functions and detailed research.
COFAMOVE: FOR SAFER TRADE WITHIN EASY REACH
Coface provides CofaNet users with CofaMove, a smartphone App to manage their customer and supplier portfolio.
CofaMove is a complementary solution to CofaNet.
It improves responsiveness in risk-taking and monitoring, as well as provides credit management guidance to sales forces in real time.。