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Download A Guide to Trade Credit Insurance by The International Credit Insurance & Surety Association PDF

By The International Credit Insurance & Surety Association

‘A advisor to alternate credits coverage’ is a reference e-book on alternate credits coverage, written from a world viewpoint. it's a compilation of contributions from numerous authors and reviewers drawn from ICISA member businesses. The e-book presents an summary of the entire strategy relating to alternate credits coverage, together with the heritage of exchange credits coverage, alternate credits coverage services, the underwriting technique, top rate calculation, claims dealing with, case experiences and a word list of terminology.

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Example text

To assess these details are needed on the potential buyers, such as their names, locations/domiciles, numbers, size, turnovers and outstanding receivables, terms of payment and payment periods, payment history, defaults, etc. An advance review of the buyers is often carried out to gain an impression of the financial standing of the buyer portfolio. Comparing the actual credit limits with the limits applied-for yields the acceptance rate. The risk profile thus obtained for the business to be insured serves as the basis for agreeing on the terms and conditions of the policy so as to achieve the best possible match for both parties.

The other side of the story is the risk profile of the buyer portfolio. To assess these details are needed on the potential buyers, such as their names, locations/domiciles, numbers, size, turnovers and outstanding receivables, terms of payment and payment periods, payment history, defaults, etc. An advance review of the buyers is often carried out to gain an impression of the financial standing of the buyer portfolio. Comparing the actual credit limits with the limits applied-for yields the acceptance rate.

Protracted default may be described as the failure by a buyer to pay the contractual debt within a pre-defined period calculated from the due date or extended due date of the debt. In fact, protracted default may be seen as offering a bridge for the insured between two possible outcomes of the situation: either the buyer eventually pays his debts or he becomes insolvent. Particularly in jurisdictions where insolvency procedures are lengthy or slow, this protracted default cover is a valuable feature of the trade credit insurance policy.

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