Trade Credit Insurance
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Protect your business
In its simplest terms, Trade Credit Insurance protects your business from unpaid invoices. At Lockyers we have excellent facilities to insure the credit you have extended to your clients. We can also offer the services of a dedicated claims team to help you through the process should the need arise.
Credit insurance does more than just ensure your invoices are paid. It can help your business succeed by providing the following benefits:
- Safer business growth
Confidently expand your sales to new and existing customers while reducing the risk of unpaid invoices. It also enables you to sell on open account terms, which can be a huge competitive advantage, especially if your clients are overseas
- Know your customer thoroughly
Our knowledge helps you select customers more carefully. Our data will inform you of everything you need to know about existing and potential customers. Our risk & financial information database is a valuable support to your in-house accounts and credit management team.
- Optimised risk management
With a credit insurance policy, you will have better control of bad-debt losses. You will minimize your risk when exploring new markets. Credit insurance also gives you the peace of mind that your invoices will be paid even if your customers default. Vital for protecting your cash flows.
- Better borrowing and financing options
Your business can secure better borrowing terms with the security that credit insurance provides. In some cases, your bank or lender may require credit insurance in order to qualify for a loan.