Credit Insurance Australia Wide

Credit insurance will make sure that your business is protected in case of a client’s inability to pay any trade credit debts that they may have with you.

Because of our well-established relationships with insurers and our knowledge of their products, we are able to source the best value cover for you. We guarantee service delivery through our expertise in the credit insurance market throughout a broad range of industries.

The cost of a bad debt needs to be counted as much more than simply the loss of money you were due to receive. The truth is you can never make up for the cost of a bad debt. The impact is immediate; it can put stress on cash flow and ultimately damages your profitability.

In serious cases, bad debt can even lead to a business’s financial ruin; don’t let this become you!

What exactly is trade credit insurance?

This type of insurance policy essentially repays a credit amount (either partially or in full) to a business when a customer cannot pay their invoice. In short, it’s assurance against bad debt.

Who needs this type of insurance?

Think of what the consequences would be if one of your largest customers failed to pay you. For most businesses, this would result in severe financial hardship as losses would be substantial. If you believe that your business would struggle in this situation, then insurance is certainly something you should be considering.

Credit insurance should not be limited to medium or large businesses, in fact even small businesses can benefit from this type of insurance policy. As a national credit insurance broker, Niche Trade Credit has access to many of Australia’s leading insurers – ensuring we find a company that meets your requirements. Credit insurance can also be tailored to meet the specific needs of your business and can cover risks such as work in progress and binding contracts. We take the time to get to know your business, as this allows us to determine the types of risks that apply to your industry and personal situation.

When it comes to risk insurance, it’s important that you take out a policy that meets your needs and budget. Naturally, the market place is crowded with a wide variety of insurance companies – and as a business it can be daunting when it comes to sifting through their policies. Niche Trade Credit can take the stress and hassle out of your hands. We guarantee that we will deliver the best price for you with our market expertise.

As industry experts, we know that bad debt can have a range of effects on a business that exceeds simply the loss of that money. Stress can be placed on cash flow and long-term profitability may be affected.

If you want to protect your business from bad debt, we have the solution. For more information regarding our range of services, don’t hesitate to talk to us so that we can help insure your business. In addition, you can access expert advice via our Client Advice Centre (first month is free) – our new service that delivers fast, up to date information regarding all aspects of credit insurance in Australia.

Risk Insurance

Life is inherently risky; it’s impossible to protect yourself from every single risk you’ll face in a lifetime. As a business owner, you’re bound to face far more financial risk than the average person. After all, it goes with the territory. However, many of these risks can be identified and lessened – in fact, many financial risks can actually be insured.

In insurance terms, risk can be defined as the chance that something unexpected – and potentially harmful – could happen from a financial perspective.

At Niche Trade Credit, we understand that there are many financial risks associated with setting up and running a business. As a trade credit insurance broker, we can organise risk insurance for small, medium and large businesses alike. Tailoring our services to suit your specific needs, you can trust us to support you when things don’t go according to plan.

When you insure against financial risk, you are essentially safeguarding your business – and in the process, reducing the chance of a possibly stressful situation arising. This type of insurance spans a broad range of different financial risks a business may face, from financial strain caused by bad debt, through to contract repudiation risks faced by exporters.

What types of insurance do we offer?

Specialising in trade credit insurance, we’re able to assist our clients when it comes to a wide range of different products. As experienced brokers, we’ll be able to ascertain which product is right for your business’s specific needs and connect you with the ideal insurer.

Commercial risk insurance

This type of insurance is designed to protect businesses from financial loss associated with some type of ‘non payment’.

As a business, you may be able to absorb some of the strain when a client cannot pay. However when bad debt becomes overwhelming, it can potentially lead to financial ruin.

There are many reasons why a debtor may not be able to pay you. These commercial credit risks include:

Insolvency or bankruptcy
Insufficient funds
Contract cancellation
A buyer refusing to take a shipment
Refusal to pay for goods and services that have been received

Want to know more about Insolvency Insurance?

Whether you need to insure your entire client base or a couple of high-risk clients you consider to be a liability, we can provide you with an insurance package that is ideally suited to your requirements.

Export and political risk insurance

As an exporter, you’re faced with a wide range of different concerns that don’t apply to the average business. Export and political risk insurance is the best way to ensure your business is safe in a financial sense.

Some international clients prefer to trade on an open account or documentary collection (rather than a standard letter of credit). If you have clients that prefer to trade in this manner, then this type of insurance is very important.

When you export to foreign shores, there are a wide range of risks you’re likely to face as a business; risks that can be easily insured against.

Contract repudiation
Rejection of goods on delivery
Non payment or insolvency
Suspension/cancellation of import/export licenses
Payment default by a government organisation
Cancellation of buyer’s contract by a foreign government

Here at Niche Trade Credit we can help you insure against serious financial risks your business may face in the future.

Whether you’re a small business looking to protect itself from bad debt or a large international company that needs greater security surrounding its export endeavours, we can provide you with the peace of mind you need.

As experienced brokers, we take the time to get to know your company; we gain a sound understanding of what it is you do and what financial risks you’re likely to face. Taking this into account, we then recommend a suitable insurance product that provides you with the coverage you need. We provide an end-to-end service and organise everything for you, giving you more time to spend on important matters – such as running your business!

So do you really need trade credit insurance?

It’s certainly a legitimate question and one that we’re asked all the time. In response, we generally ask businesses to consider this: how would you cope if your largest customer failed to pay you? If you think your business would struggle, then insurance is almost certainly a good idea.

If you would like more information regarding how we can help you safeguard your business from bad debt and other financial risks, don’t hesitate to contact our friendly team today on (02) 9416 0670.

Client Advice Centre

NicheTC will train Aussie Businessman to control credit without incurring any extra cost.

At NicheTC, we’re committed to making and keeping our clients happy. As a result, we’re launching a client advice centre that will help you reach us faster and without any delays. As a customer, you’re entitled to all the help you can get. And that’s what we aim to provide for you through our NicheTC client advice centre. – See more at:

NicheTC launches New Client Advice Centre Connects.For the first month the expert advice is FREEHow we can help you ? What will you get here?

Sound Financial Advice

Need advice regarding your business, money management, debt collection, prospect creditworthiness assessment and many more? Contact us here. Remember that bad debts start with the borrower’s creditworthiness. With our team of financial experts, we can help with all of these and many more. Through our Client Advice Centre, you can find out just how long it’ll take for you to get your money back and how much money you’re losing everyday your customers don’t pay up.

Debt Collection Profiling

Sometimes, you need people to take care of your debt collection. Here, we can easily help you map out debt collection strategies that will surely help you get your money back. You’ll also get to significantly reduce your bad debts ratio. Our debt collection team is available for you to talk to. You can easily get in touch via email or call us on the phone.

Debt Collection Tips

We will be offering proven debt collection tips. Our team offers sound debt collection advice and techniques that have been proven over and over to get you your money in record time. Bad debts are going to be a thing of the past if you allow us help you.

Credit Management Tips

We’ll also offer sound credit management tips and advice. Consult with our credit management team today if you’re having a problem with collecting your payments. As seasoned credit control and debt collection experts, we know all there is to know about getting your money back. Email us with any questions and enquiries you might have and we’ll get back to you as soon as we can. All enquiries will be handled professionally and discretely.

That’s pretty much it for the NicheTC Client Advice Center. Get in touch now and we’ll see what we can do to help.

Commercial Risk Insurance

Domestic (Australia & New Zealand)

Commercial Credit Risk Insurance protects your business and reduces the risk that you will lose financially though some type of non-payment.

This type of insurance can be tailored to fit any size business and it is just a matter of talking to our staff about your particular business needs.

It may be that you want to cover all your customers or perhaps just particular clients that would fall in the high risk category.

Commercial credit risks are generally considered to be factors or events that fall under the control of the buyer and can include:

Bankruptcy or insolvency
Not having sufficient funds to pay a debt
A default that is drawn out because of a refusal to pay for goods or services that have been received
The cancellation of a contract
Refusal of the buyer to take delivery of a shipment
A pre credit risk where the buyer enters into insolvency while the goods are being manufactured and prior to delivery

Some of the features that you can have as a part of Commercial Credit Insurance may include:

A credit limit that is specified for each of your customers that is decided in consultation with experts and takes into account the buyer’s payment history and their stated financial position

It may be that you choose to insure with credit limits for particular customers that may be more of a risk

Annual deductibles and per loss deductibles

Some exclusions and limitations on coverage

When you have Niche Trade Credit on your side you can feel confident knowing that you are covered in the case of insolvency, bankruptcy and other forms of non-payment.

You work hard to make your business pay and it only makes sense to ensure that your buyers do too.

Talk to us about how we can help you with Niche Trade Credit .

Call 02-9416 0670 for Free Advice on Commercial Risk Insurance

Compliance

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.

Call 02-9416 0670 for Free Advice on Export and Political Risk Insurance

Credit Reporting/Ledger Cleaning

Do you honestly know who owes you money? Perhaps you have dealings with one or more staff members from an organisation that purchases goods or services from you but do you know the legal identity of the company that they are employed by?

If this question leaves you scratching your head and looking at your ledgers with fear then maybe you need our help.

But you are not alone, many ledgers hold incomplete debtor information and at Niche Trade Credit we can help you by reviewing your ledger.

The reason we recommend this is that if you have the full legal details of every one of your clients it makes it much easier to ensure that you receive payment by enforcing a contract.

This is also the case if a client files for insolvency and you need to rank for a dividend or make an insurance claim.

Early Warning System

How handy would it be for you to know BEFORE a client defaults on a payment that they are experiencing difficulty with their finances?

It could open up a conversation about a payment plan, you could suspend a delivery of goods till payment is guaranteed or sit with them to create a strategy that is beneficial to both.

We can provide you with early warnings about both current and potential customers. Be aware before you sign if a client has outstanding debts with other providers so you can save yourself a headache or maybe insist on up front payment rather than extending credit.

Keeping an Eye on Credit Limits

Let us do all of the hard work for you. You may have set credit limits for some of your climates but do you have a process in place that means they are regularly reviewed.

We have experienced analysts that can do this for you. They have a broad range of information available to them for determining appropriate credit limits and can assess your data and provide guidance in this important area of business.

Specialised Profiling

We guarantee that all of our mercantile reports are completed by our specialists to accurately reflect the information that is relevant to your business finances and standing without any ‘padding.’

Some providers may supply off the shelf generic reports but we guarantee that each one of our reports is the result of the analysis of the data that you provide us combined with the pertinent market information.

Come to us for Practical Financial Advice

If you are not sure about your business finances and how to protect them come and see us for practical advice.

Financial areas can be confusing to even the most experienced person. Your job is to run your business that is your expertise, this is ours and we can provide advice in areas like:

Effective Retention of Title

Directors Guarantees

Security or payment terms.

These are just some of the areas that we can assist with, come and see us to sort out your business finances before they become an issue.

Debt Recovery & Bad Debt Insurance

Debtor and Cash Flow Management ServicesDebt collection, whilst it can be effectively managed, is a business problem and can seriously hold up cash flow whilst the money you need is being recovered.

The ideal scenario is to NOT let your business finances deteriorate to this level by implementing some effective business strategies, including talking to a debtors insurance expert such as Niche Trade Credit.

We offer cash flow management services and bad debt insurance (often referred to as trade credit insurance) to businesses that want to safeguard themselves from the negative impact of debtors who cannot pay.

Cash flow management services

As a business, you are vulnerable when you have an interrupted cash flow so an effective debtors control system is essential as part of your financial management.

Generally in Australia debtors are often allowed more than 54 days to pay their debts that are outstanding. What this means to a business owner is that they are only operating with approximately half of the cash flow that they really should have. This is close to double the 30 days that most businesses use for everyday trading. One of the things that you can do is understand the number of debtor’s days that are outstanding every month to ensure that you understand the effect that debtors are having on your businesses cash flow. read more on about our Credit Insurance Australia.

You can also use the following steps to help reduce the amount that is owed to you or at least help to recover money if it becomes outstanding:

Confirm all payment arrangements with debtor’s in writing

Be proactive and contact clients so that payments are made by the due date

If companies are private get guarantees from the directors

Resolve any client queries quickly

Don’t hold onto outstanding debts – refer them promptly to a debt recovery agency

An effective debtors control system is an essential part of any business’s financial management. The good news is that you don’t need to be an expert to protect your business from the effects of an interrupted cash flow; Niche Trade Credit can take care of it for you.

Insurance brokerage service

An important component of any effective cash flow management system, credit and debtors insurance is essential for any business in case there are debts that cannot be recovered. This type of insurance is particularly important in the case of large debts (e.g. a business’s largest customer), where the financial stability of the business would be at stake if the debt was unable to be recovered.

Bad debt can become a serious issue for businesses, particularly when left unchecked. It’s important to consider the impact of bad debt on your business early; once debt has accumulated and is causing serious strain, it is often too late.

We can take care of your risk insurance needs for you, finding a suitable insurer and then processing the paperwork on your behalf.

Contact the debt recovery experts

Here at Niche Trade Credit, we are the experts on debtor and cash flow management. We have a broad range of services that can take care of this area of your business for you before it becomes a headache – from debt collection through to trade credit insurance. When you enlist our help, we’ll remove any stress and hassle from the equation. Let us do the hard work for you – while you focus on growing your business.

If you would like to talk to our credit and bad debt insurance experts in Sydney, call us on (02) 9416 0670. We also run an over-the-phone Client Advice Centre (the first month is free) for those times when you need information and advice in a hurry!

To talk to our credit and debtors insurance experts in Sydney, call us on 02-9416 0670.

Debtors Health Check

Are you unsure about your receivables and how much is owed to you? Do you need some independent advice to help you sort out your debtors and create a strategy for collection?

At NicheTrade Credit we can conduct a Credit Assessment and Health Check to give you and accurate idea of the state of your receivables portfolio. We offer an independent Credit Assessment and Health Check which will give an assessment on the quality of the receivables portfolio. The assessment will:

Discover opportunities to develop credit processes

Create a strategy for the improvement of cash flow

Determine areas where cost savings can be implemented

The report includes a benchmarking and competitor analysis. The process takes 2-3 hours and includes discussions and interviews with the finance and credit managers, the completion of a standard questionnaire and a data template. It takes approximately 3 hours to complete this report for you, which includes:

An in depth discussion with finance and credit managers/business owners

An analysis of competitors within your particular industry

A report on how your business measures up when compared to similar companies

This is an ideal opportunity to get an in depth understanding of your financial position and the reports can be the basis of your forward growth financial strategy.

Would you like a review of your processes and procedures?

Would you like an independent review of your receivables performance?

Would you like to benchmark your receivables portfolio against other companies in your industry?

Would you like a credit specialist to identify cash flow improvement opportunities.

If you would like more information about obtaining a Credit Assessment and Health Check please contact us and talk to one of our expert consultants.

Insolvency Insurance

In the business world, there will always be people who cannot pay. As a business that sells goods and services in credit terms, it’s quite likely that much of your working capital is tied up in accounts receivable.

This is perfectly normal; however problems can arise when these invoices aren’t paid on time.

Whether it’s a small bill or a couple of months’ worth of unpaid invoices, it can ultimately lead to financial strain for your business.

The fact of the matter is that virtually every company has to deal with debtors – and consequently bad debt – from time to time. While some cases may result in nothing more than a little frustration, others can essentially ruin a business.

Need help on Bad Debt Insurance?

If one of your biggest customers became insolvent and could no longer pay off their debt, how would your business cope?

This thought strikes fear into the heart of many business owners, and it is little wonder why. Many businesses have faced bankruptcy themselves thanks to bad debt – don’t let this very real risk go unguarded!

At Niche Trade Credit, we offer insolvency insurance (commonly referred to as trade credit insurance, debtor insurance or bad debt insurance) to businesses both big and small. As expert insurance brokers, we’re able to find an insurance package that provides you with the right amount of coverage – whilst still adhering to your budget!

What exactly is insolvency?

Insolvency essentially relates to the state of not being able to pay debts that are owed. Therefore, an insolvent company is one that cannot pay off money owed to other businesses and individuals.

There are essentially two types of insolvency: cash flow insolvency and balance-sheet insolvency. The first type relates to a business that has enough assets to pay what is owed – yet doesn’t have the actual cash to make the payment (i.e. their money is tied up in assets such as equipment or property). In this scenario, the business will generally need to sell off assets in order to settle debts – and therefore, the business that is owed money will have to wait before they receive payment.

This is a potential risk for any business, as waiting extended periods for payment(s) from debtors can lead to cash flow problems of your own. However, the second type of insolvency (balance-sheet insolvency) is a more serious situation; it means that the debtor doesn’t have enough money to pay off all their debts full stop. Many businesses that are balance-sheet insolvent enter bankruptcy (although not always), and therefore it often means that those who they owe money to are left with bad debt.

If your business has been left with bad debt as a result of a customer’s insolvency, you often need to absorb the loss. If it’s one of your main customers – or if you have a number of customers in this situation – it can lead to severe financial strain for your business.

In order to protect against bad debt caused by customer insolvency, many businesses take out trade credit insurance; it’s the only way to ensure your business is adequately protected!

How can we help?

At Niche Trade Credit, we understand just how serious bad debt can be. In fact, when a business becomes insolvent it can essentially cause other businesses to face the same fate. As insurance brokers we have access to a wide range of insurance options, many of which are designed to protect against the losses associated with customer insolvency.

If you’re worried that one or more of your debtors may be struggling financially, we can help to gain a clearer picture via a Debtors Health Check. We’re able to undertake discreet research in order to determine a debtor’s financial position, thereby allowing you to make arrangements accordingly. The sooner you know bad debt is a possibility, the better!

We’ll pair you with the right insurer!

If you’re planning on taking out insolvency insurance, it’s crucial to ensure you find the right insurance company.

We can assist you in finding the right insurer – one that can meet your coverage needs and budget. In some cases, it makes sense for a business to only insure customers that are deemed to be a liability, while in other cases it’s better for a business to insure their entire customer base.

Whether you’re a small company looking for added security, or a large international firm needing to insure against substantial losses, Niche Trade Credit is able to assist. For more information regarding how we can help you to protect your business, please contact us today on (02) 9416 0670.

Trade Credit Insurance Claims Service

Do you need help with a trade credit insurance claim? Submitting a claim correctly can be an arduous and lengthy process and if done incorrectly could mean that you forfeit any monies that could rightfully have been yours.

At Niche Trade Credit we know the insurers and their requirements. We are experts at submitting complete and accurate claims for our valued clients; we can also liaise with insurers to keep you advised of the progress of your claim.

If there is a problem we can work through it with you and if necessary we will advocate on your behalf to assist the payment process.

We can help you with Trade Credit Insurance. Call us today!

As a business owner, it’s often hard to know where you stand and what your options are when it comes to insurance claims. Insurance policies often include difficult-to-understand jargon, and insurance firms are not always the easiest to deal with.

If you need to submit a claim, remove the stress and hassle by talking to our experienced team. We can provide you with the assistance you need, allowing you to spend more time on important matters – such as running your business!

Protect your business from bad debt!

For most businesses the value of the debtor’s ledger (the money you are owed), is one of the largest assets and yet it is often uninsured. Other important business assets are insured usually without question, yet the risk to a business of customer insolvency is perhaps one of the most volatile exposures. Just think: how would your business cope if your largest customer was suddenly unable to pay their invoice?

To make credit recovery a hassle free process, it’s important to ensure that you have appropriate risk management measures in place. The best way to safeguard against bad debt is via trade credit insurance – it provides you with peace of mind and ensures your business is financially secure when it comes to debtors who cannot pay.

So what does this type of insurance actually cover? Well, simply put it covers the credit amount a business is owed when a debtor is unable to pay (i.e. bad debt). The debtor may be unable to pay for a number of reasons, including bankruptcy and insolvency.

Whether you choose insurance coverage that spans all of your clients – or opt to only insure your biggest debtors – you can rest assured that bad debt won’t ruin your business. Of course, it’s important to ensure you take out ample coverage early on – once it has become overwhelming it may be too late.

We deal with insurers so you don’t have to

Talk to the team here at Niche Trade Credit if you need to make a claim or would like more information about securing trade credit insurance for your business.

Niche Trade Credit has done the hard work for you; we can compare insurance firms on your behalf, finding the one that best suits your needs. Call for free advice on trade credit insurance claims. We strive to provide our clients with the best possible service, and as such have recently opened our over-the-phone Client Advice Centre. This service provides a timely, on-demand service that is free of charge for the first month. We’re there to offer advice when you need us most!

Niche Trade Credit Pty Ltd is a licensed Insurance Broker with ASIC AFSL No: 355296. Looking for information regarding political risk insurance or national credit code? Give us a call today – we’re always happy to help!

Call 02-9416 0670 for Free Advice on Trade Credit Insurance Claims

Niche Trade Credit Pty Ltd is a licensed Insurance Broker with ASIC AFSL No: 355296

Looking for Political Risk Insurance or National Credit Code?