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How do you ensure your invoices are paid on time?
August 9, 2023
Rupert Cutler
A contract is signed and agreed the work is done how can you ensure payment?
- Pre-payment
- Bank Letter of Credit or Guarantee
- Forfaiting/Discounting of Invoice
- Trade Credit Insurance
If pre-payment is not available and you do not wish to discount your contract then Trade Credit Insurance can be bought direct from Specialist Insurers or Export Credit Agencies such as UKEF at no additional cost through Professional Insurance Brokers, being Independent from Insurers. The type of coverage and your ability to access the most appropriate Non-Payment Policy varies by Company and Sector.
We at Holtarka have 35+ years Award Winning Expertise advising, guiding and arranging Trade Credit Insurance for our clients Worldwide. We work with new and existing Trade Credit Insurance Buyers across many sectors. We act as your Independent Agent accessing different Specialist Insurers Worldwide. We are a FCA regulated Authorised Representative of Lloyds Broker Bellwood Prestbury.
7 Key Items of Information required for each application:-
- Your Company details including your Business Activity and Audited Accounts;
- Sales Terms to customers - how and when you get paid;
- Payment history with customers and any Payment Losses;
- Which Companies you wish to be included with their full details;
- Maximum Measured Exposure at any one time to each Buyer/Supplier;
- Estimated Sales Volume/Turnover;
- Limit/Sum Insured sought and Insurance Policy Period.
The information will with your sales or accounting team so it is at your fingertips.
For a free and confidential review give us a call on +447979801237 or check our website for more information www.holtarka.com
