Customer non-payment
A trade credit proposal considers the buyers, agreed credit limits, payment terms and insured causes of non-payment. Cover is not established simply because an invoice is overdue.
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Trade Credit & Surety
Trade credit and surety answer different questions. Trade credit concerns amounts customers owe for goods or services; surety concerns an undertaking required by a contract. They should be reviewed as separate arrangements.
Who it is for
Businesses selling on credit or responding to a contractual surety-bond requirement.
Explore the cover
These are areas to discuss, not an automatic inclusion list. Available sections and cover depend on the selected wording and schedule.
Choosing the receivables scope
Arrangements can focus on a whole turnover portfolio, key accounts or a single buyer; excess-of-loss structures have another purpose. Compare the selected debtors and reporting obligations against your credit process.
Surety remains separate
For a bond enquiry, identify the beneficiary, contract requirement, amount and duration. Any facility, security or reimbursement obligations need separate documentation; they cannot be inferred from trade credit cover.
Information for quotations
For credit, provide debtor concentrations, terms, countries and overdue balances. For surety, provide the contract, required bond wording, beneficiary, amount and financial information.
Limitations and exclusions to discuss
Trade credit and surety serve different purposes. Discuss debtor decisions, exclusions, collections, facility conditions and beneficiary acceptance; no financing or bond acceptance is guaranteed.
Frequently asked questions
Is every unpaid invoice insured?
No. Review the particular debtor, debt and applicable conditions. A credit sale alone does not establish an insurance response.
Is a surety bond another form of Contract Works cover?
No. A surety undertaking follows a contractual obligation; insurance on physical works addresses a different interest.
Talk through your business.
Tell us what you do, what is changing and what you would like to understand. We can help organise the questions and the information needed for a meaningful insurance discussion.