Is Your Business Writing Off Huge Losses?
25 October 2021 – Trade Credit Insurance is a financial risk management tool designed to safeguard traders, businesses, manufacturers, and service providers against losses often incurred due to non-payment or extremely delayed payment.
Suppose a buyer is unable to pay due to various reasons, mostly due to insolvency or bankruptcy. In that case, the insured can claim from their trade credit insurance policy for payment.
For businesses offering credit to their buyers trade credit insurance can provide protection against non-payment, insolvency, and unwarranted losses. It can also potentially help with business expansion, increasing profitability and strengthen business stability.
Prestige Credit Group has been amongst the leading credit insurance solution providers in South Africa since 1998. The company has relationships with most of the major credit insurers in the industry and caters to businesses of all sizes.
Prestige Credit Group understands the volatility associated with the trading and business environment at large and aims to fill the void through its trade credit insurance solutions. It not only protects the businesses from unwarranted trade-related risks and debts but improves overall bottom-line quality and profitability.