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 email@example.com
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