What Is Credit Insurance and What Does It Offer?
Insurance helps creditors to have a good night’s sleep!
2.2 FUNCTIONS OF CREDIT INSURANCE
2.2.1 General—Sales and Exports Promotion
2.2.2 Assumption of Risk and Claims Payment
2.2.3 Preventive Function of Credit Insurance
2.2.4 Prevention of Claims, Their Minimization, and Recoveries
2.1 Definition
For suppliers selling goods and services in domestic or foreign markets on credit or deferred payment terms, credit insurance provides insurance coverage for outstanding trade receivables against the nonpayment risk of their customers or debtors and their eventual guarantors.
By concluding a credit insurance contract, exporters ...
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