Trade credit insurance is an insurance policy offered to businesses to protect their accounts receivables from loss due to a customer’s payment default, insolvency or bankruptcy. Most businesses extend ‘trade credit’ to their customers as an alternative to pre-payment or COD terms which provides time for the customer to generate income to pay for the product or service. The vendor assumes the ‘non-payment’ risk in both domestic and in export transactions where international trade introduces new and sometimes unknown risks. Businesses that purchase trade credit insurance benefit from safe sales expansion – at home and abroad – to new and existing customers.
Fenn & Fenn has access to leading Canadian Trade Credit insurers – let us help you protect your bottom line by arranging a quote for this important business insurance coverage.
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