Commodity credit insurance
THE IMPETUS OF TRADE DEVELOPMENT ALL OVER THE WORLD
This is how the whole world works.
This type of insurance has always been very developed in Western Europe, North America, Australia and Japan. Now UNIVERSALNA offers this product on the Ukrainian market in full as it has long been practiced in the developed world.
For whom is this type of insurance essential?
commodity risk insurance
Commodity credit insurance is a very dynamic and active type of insurance, as Insurers sell goods every day.
How does it help?
Commodity credit insurance protects the Insured against:
- Insolvency (when the Buyer becomes insolvent under the law of the country of registration)
- Prolonged delay in payment (when the Buyer does not pay for 180 days after the payment due date provided by the Supplier)
Benefits for business
Commodity credit insurance has the following benefits for business
Domestic and export receivables can account for up to 50% of the company’s assets. So why do companies only protect their fixed assets and not insure their receivables? Insured receivables are highly liquid assets.
Commodity credit insurance contracts help to be competitive in both the local and international markets by providing higher trade limits or longer periods of deferred payment.
Countries with commodity credit insurance are competitive in international markets by providing longer deferral periods, as well as the benefits listed below.
Commodity credit insurance has the following benefits for business:
- Protect yourself from bad debts: bad debts - bad consequences; protect cash flows to achieve financial planning; balance sheet.
- Increase your sales: make yourself known on new local and export markets; increase credit limits for existing customers; coordination between sales department and risk management.
- Be more competitive. Ability to make sales without letters of credit, bank guarantees. Increase payment terms for new and existing customers.
- Secure lending from banks. Trade receivables are converted into high quality collateral. Negotiating the best borrowing terms.
- Ability to have reliable market financial intelligence. Access to important information database. Obtaining risk assessments for a large number of companies.
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