Credit Insurance
Coface provides you with a range of flexible credit insurance policies tailored to your company's specific requirements, regardless of the size of your business or the industry you operate in.
If you have sold your product or service on credit to another company, you rely on that company to pay you on due date. However, you are carrying a bad debt risk, which could materialise if payment is not received. You have invested your hard earned cash into the transaction and require payment in order to continue the business cycle. Non payment from your customer could certainly have a negative impact on your cash flow and in severe cases can cause your business to fail.
Credit insurance is an innovative tool used to protect companies trading on credit from non-payment both locally and internationally.
The process of credit insurance includes accessing trade information on your potential buyer, credit assessment of the buyer, recommended and insured trading values with that buyer, debt collection on outstanding debt should non payment occur and payment of a claim in the event of non payment or insolvency of your client.
Business Information
Markets change fast and a company that is viable and stable today may become financially weak tomorrow. All businesses need quick access to reliable business information on potential customers, suppliers or business partners (especially if they are small, newly formed or in a foreign country). It is also important to reassess the credit history of your customers and trading partners regularly, so that you are alerted to potential payment problems as early as possible.
Receivables Management
Late payment has an immediate impact on your cash flow and makes financial planning very difficult. Chasing payment takes up valuable management resources and legal procedures can be time consuming and costly. Local and International Debt Collections management from Coface South Africa enables you to have your domestic and international overdue accounts collected by our experienced debt collection service professionals, leaving you free to continue with the more important task of growing your business.
