Do you offer your customers short term credit? If so, then a Trade Credit policy may be suitable for you.
Businesses negotiate trade credit terms based on the customer’s perceived creditworthiness, but as a supplier, you are often the last to know when a business is in financial difficulty. Companies fail for a variety of reasons, including a change in environment, management mistakes, or a devastating bad debt.
Could your business survive if a client left you with a bad debt? A business with a turnover of £1.5m with a net profit margin of 5% would have to increase its turnover by 30% to recoup a bad debt as small as £22,500.
WTJ can offer a solution with Trade Credit Insurance. This policy can assist with assessing customers’ financial status and recovery of bad debt, and in the case of non-payment of debt, will ultimately pay the claim.
For further information, or for a quotation, please contact John Keaney on 01924 877236 or email firstname.lastname@example.org
The government has made changes to the claims process for low value road traffic accident (RTA) related personal injury claims, commonly referred to as ‘whiplash claims’, effective from 31 May 2021Read More
Only 11% of 18 to 25 year olds who participated in the survey say they had a good understanding of what’s covered by contents insurance, compared to 61% of those over 55 years of age.Read More
The new regulations, titled The Electrical Safety Standards in the Private Rented Sector (England) Regulations 2020Read More