Credit insurance protects your business from the risks of non-payment of invoices. This means your invoices are covered. So if your customer can’t pay you, you’ll still get up to ninety percent of your money.
The best credit insurers get to know you and your business. They work in partnership with you, supporting you with up-to-date intelligence on markets and sectors. You can use this information to help explore new markets with confidence and offer competitive credit to customers. It also gives you a layer of security that banks tend to like when approached for finance.
We’re one of the world’s leading providers of credit insurance. Let us introduce ourselves, and learn more about Atradius, at www.atradius.ca
"Without credit insurance a small company like ours could not afford to take the risk of selling to many markets that require payment terms, especially to unknown buyers and new markets.”
You can use credit insurance as a tax-deductible business service. It can be a requirement of your management board and you might find it a great support when seeking finance from banks. Credit insurance is suitable for most businesses, from SMEs to large multinationals. It can be used for both domestic and export trade.
Little to do
Your insurer will work with you and research your buyer
Get a credit limit for your buyer from your insurer.
Lots of work
Do your research or pay for an agency
Employ a credit agency to check your buyer Choose to either:
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Focus on your work
One less thing to worry about
Just do what you do best.
Deliver your goods or services, send your invoice and get on with you business.
Cross your fingers.
Trust your luck and hope your customer pays.
Depending on what you did in Stage 1 you can:
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Your insurer will work with you to sort it out.
Customer can't pay? Let your insurer know and they'll settle up; either through debt recovery or a pay-out.
This could hurt
Any way you look at it, it's a loss.
Unpaid invoices? Depending on what you did in Stage 1 this means:
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You'll get paid
Claim back almost all outstanding debt.
There's nothing else to see here. Your business operates as usual. Return to Stage 2 and continue as before.
No money and lots of work.
Find a good lawyer. You'll need one.
If you're still solvent, return to Stage 1 and start the process over. Bear in mind factoring and Letters of Credit terms maybe different as a result of the debt.
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