Credit Insurance offers protection to the business against the insolvency of its customers – buyers.
Arranging payments is a daily concern in any business. Even with the best organization, the most advanced systems and the most informative information, one can not be sure of the results. Significant precariousness can affect a company’s annual results, burden its balance sheet and sometimes even threaten its viability – and is one of the most common causes of business bankruptcy.
Surety Bonds, through the issuance of letters of guarantee by the Insurer, guarantees the fulfillment of a variety of obligations from construction or service contracts, to the usual operations of commercial enterprises. Almost any sale, service or agreement can be secured through the issuance of a Guarantee Insurance Contract.
Guarantee Insurance is a tripartite agreement under which the first party (Guarantor) is liable to the second party (Beneficiary) to cover the loss that may arise from the inability of the third party (Insurance Borrower) to fulfill the terms and conditions of a specific contract. of the Beneficiary and the Insurance Recipient.
Yes. Now the insurance market can offer letters of guarantee. A key advantage in this case is that no capital commitment is required as is the case with banking institutions.
No. The total turnover that includes all the credited customers of the company must be secured.
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