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OUR CLASSES

Domestic Credit Insurance

Covers the risk of Insolvency of the buyer or his Protracted Default (failure to pay an undisputed insured debt within a certain time after the due date)

Covers the risk of Insolvency of the buyer or his Protracted Default (failure to pay an undisputed insured debt within a certain time after the due date).

There are five basic policy types:

  • Whole turnover: Covers all customers who buy on credit terms
  • Multiple accounts: Cover is restricted to all those customers who generally owe an amount in excess of a predetermined level, and those whose default would have a major impact on cash inflow.
  • Selected Buyers: Offers the insured complete freedom to select individual customers to be credit insured.
  • Specific account: Cover available only to shipping and confirming houses that extend credit by making payment on behalf of their clients.
  • Confirming houses: Cover available only to shipping and confirming houses who extend credit by making payment on behalf of their clients.

ADDED BENEFITS FOR POLICYHOLDERS

In addition to the above benefits, Credsure also offers credit investigation and credit supervision which are carried out at no extra charge.

Credit Investigation

Right from the quotation stage, the status of buyers is thoroughly checked and after a policy has been issued, all insured buyers are investigated on a regular basis and their creditworthiness  continually monitored by our highly trained Credit Insurance Underwriters. These checks and investigations are carried out with complete confidentiality.

Credit Supervision

Once a policy has been issued, we readily assist in follow-up and administration of overdue accounts both local and foreign and will institute legal action if asked to do so, with Credsure bearing a percentage, proportionate to its interest in the debt, of all costs incurred.