..:: Trade Credit Insurance ::..

TRADE CREDIT INSURANCE

OVERVIEW
INSURANCE COVERAGE
EXCLUSION
PRODUCT DOCUMENT
CLAIMS GUIDELINE
OTHER PRODUCTS

product overview

Trading risks are always present and one of the most common risks when trading on credit terms is non-payment by a buyer. Trade Credit Insurance could be the solution to protect your business against non-payment exposures and avoid financial losses.

Since 2011, TMIV has co-operated with Atradius, one of top 3 biggest trade credit insurers worldwide to introduce Trade Credit Insurance product in Vietnam. The support from Atradius shall ensure the best protection and technical consultancy while TMIV’s proven prompt and customer oriented service shall deliver the best satisfaction to clients.

INSURANCE COVERAGE

main coverage

Trade credit insurance covers the risk of financial loss caused by:

Buyer’s insolvency: Insolvency is the situation in which the buyer can no longer meet its financial obligations with its goods seller(s) or service provider(s) as debts become due. Insolvency can lead to insolvency proceedings, in which legal action will be taken against the insolvent entity, and assets may be liquidated to pay off outstanding debts.
Protracted default by the buyer: This happens when the buyer fails to pay the contractual debt within a pre-defined period calculated from the original due date of the debt.