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.
Our range of Credit Insurance products are as follows:
Global Protector
A 12 month contract providing you with credit protection on all your customers, regardless of where they are located (both locally and/or internationally). This is a turnover based product with premiums paid at agreed interims during the course of the year. A turnover declaration is required at year end and a premium adjustment is levied based on this declaration. You are covered for non payment, including political risk, in the event of an export transaction, and insolvency.
Managed Protector
This product requires you to submit your month end age analysis on a monthly basis. Premiums are levied monthly in arrears based on the insured portion of your book as ascertained from your age analysis. In addition to the normal benefits of credit insurance this product provides a credit management report which assists you in accurately and efficiently controlling your debtors book. Managed Protector is a product that facilitates excellence in credit management.
Pinnacle Protector
A product specifically aimed at those companies wanting to insure themselves against the insolvency of one of their larger customers. A major buyer level is agreed and all clients above this value are insured against insolvency Premiums are paid at agreed interims during the course of the year and the premium is adjusted at year end based on the turnover to the insured buyers. Pinnacle Protector ensures that you are protected against potential bad debts which could most severely damage your business.
Cash Flow Protector
A product similar to our Global Protector product which provides you with true cash flow protection, by ensuring the early payment of claims. Claims can be paid as soon as a debt has reached 65 days from due date.
Venture Protector
A cost effective low admin credit insurance product aimed at small to medium enterprises. If your credit turnover is less than R 40 million per annum this product is for you. A fixed premium is paid via instalments over a 12 month period. No declarations are required and there is no adjustment to the premium paid regardless of the growth in your business. This allows for accurate budgeting and enables you to focus on developing your business. This product provides you with an on-line credit application tool which will enable you to remotely access information on your buyers and limits.
Customs & Excise Bonds
We offer a range of customs & excise bonds and related bonds to suit each client's specific bonding needs. Our internationally recognised analysis tool enables us to provide large value bonds at internationally competitive prices. With the exception of a counter indemnity we aim to issue bonds with no or limited security, thereby ensuring that your banking facilities can be used to maximise your financing requirements.
