Trade credit insurance, also known as business credit insurance or credit insurance, is an insurance policy and a risk management product offered by private insurance companies and governmental export credit agencies to business entities wishing to protect their accounts receivable from loss due to credit risks such as protracted default, insolvency or bankruptcy, says the definition of Trade Credit Insurance, according to Wikipedia.
Importance of Trade Credit Insurance
To get protection from non-payment of debts, it is essential to buy trade credit insurance. The insurance policy becomes active if your client doesn’t pay on time or delay the payment.
Understanding Trade Credit Insurance Policy
Here is the infographic (via – SecureNow) to help you understand about Trade Credit Insurance Policy.
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