When your business is covered by a Trade Credit Insurance policy there are a number of things that you need to do throughout the year to ensure that you are complying with all of its contained requirements.
Unlike most other insurance policies that sit in a drawer after signing and just need to be renewed on a yearly basis, for a Trade Credit Insurance policy you need to:
Understand credit granting and how you need to liaise with us when you sign new contracts to ensure that the client is covered under the policy and that there are no restrictions, and if there are what they are and how they may affect your relationship with the client.
Turnover declarations need to be completed so that the regular cash flow of your business is understood and any issues can be flagged.
Overdue reporting means that you are regularly assessing your client base and as soon as there are overdue payments that may signify a problem they are reported.
If this has got you confused don’t be that is what we are here for. Our expert staff will make sure that you fully understand your requirements and walk you through the steps that you need to undertake to ensure that you are compliant.
We offer a flexible service to ensure you get full value from your Trade Credit Insurance policy. Unlike other forms of insurance trade credit insurance is interactive; you can’t file it in your draw for 12 months and only consider it at renewal. We help you to comply with credit granting under the discretionary limit, turnover declarations and with overdue reporting.