The deal is done, the goods and services have been delivered. But the money is not yet in the bank, and something’s gone wrong. This is the role for trade credit insurance and the ICBA brokers who work with their clients around the world to arrange insurance that protects your company from customer insolvency, protracted default and a host of other risks.
Trade credit insurance arranged by ICBA brokers covers your accounts receivable for such risks, and pays out so your cash flow is not interrupted. Trade credit insurance gives you the ability to trade with confidence, knowing that defaulting customers won’t throw your business into unforeseen turmoil.
In-country ICBA brokers operating from 50 offices in 30 countries also act as an early warning signal, helping you make good decisions about which companies to trade with, and which to avoid based on previous claims data as well as knowledge of local conditions and associated risks.
There’s another bonus. Trade that’s properly insured gives banks the confidence they require to respond to funding requests and negotiate more favourable financing terms.