What does Atradius do?
Atradius provides trade credit insurance, surety and collections services worldwide through a strategic presence in more than 50 countries. Atradius has access to credit information on over 240 million companies worldwide.
How does trade credit insurance work?
Trade credit insurance works by insuring you against your buyer failing to pay, so every invoice with that customer is covered for the insurance year up to the terms of your policy. It’s used by businesses of all sizes to protect both international and domestic trade.
What is the credit insurance?
Credit insurance is a type of insurance policy purchased by a borrower that pays off one or more existing debts in the event of a death, disability, or in rare cases, unemployment.
How many employees does Atradius?
Atradius provides trade credit insurance, surety and collections services worldwide through a presence in more than 50 countries around the globe. It is the credit insurance arm of Grupo Catalana Occidente (GCO.MC)….Atradius.
| Atradius headquarters in Amsterdam, The Netherlands | |
|---|---|
| Number of employees | 3,650 |
What is debt protection insurance?
Debt Protection is a voluntary loan-payment protection plan that helps preserve your family’s standard of living and offers relief from financial burdens if a protected life event such as disability, loss of life, employer-approved family leave, or involuntary unemployment happens to you.
Who uses trade credit insurance?
Trade Credit Insurance is the type of insurance provided to trading companies who wish to protect their receivables from credit risks. Trade Credit insurance can be a risk management tool to safeguard against non-payment of goods, invoices or other debts.
What are the disadvantages of trade credit?
What are the main disadvantages of trade credit?
- Need for credit management.
- Risk of late payment fees.
- Potential supply chain complications.
- May affect creditworthiness.
- Some suppliers may refuse credit to start-ups.
- Expensive if payment date is missed.
Is credit life insurance mandatory?
Credit life cover is not always compulsory Some, but not all, credit facilities or loans will only be offered on condition that the person borrowing the money agrees to take out credit insurance.
What is Coface rating?
Coface uses the @rating methodology to indicate credit limits on some insurance policies. In North America, @rating is also available as a credit assessment tool, meaning that you can tap in to our underwriting talent even if you are not a policyholder.
What happens to your debt if you get retrenched?
If you happen to lose your job due to retrenchment, then the policy will pay you out for up to six months, to help cover your loan repayments. However, each policy is different in the amount it will pay out, and you should check with your credit provider as to the terms of the cover.
How much does debt protection cost?
Looking into the costs of credit card debt protection insurance, it is based on your card’s monthly balance and typically costs about 10%, or more, a year.
Why do you need trade credit insurance?
Trade credit insurance provides cover for businesses if customers who owe money for products or services do not pay their debts, or pay them later than the payment terms dictate. It gives businesses the confidence to extend credit to new customers and improves access to funding, often at more competitive rates.
Who are the top three trade credit insurance providers?
Historically the portfolio market has been dominated by the top three global credit insurers; Euler Hermes, Atradius and Coface.
Why would a business use trade credit?
Trade credit allows businesses to receive goods or services in exchange for a promise to pay the supplier within a set amount of time. New businesses often have trouble securing financing from traditional lenders; buying inventory, for example, on trade credit helps increase their purchasing power.
Why is trade credit not ideal?
Penalties and interest While trade credit is effectively ‘free money’ and can be repaid without interest, missing repayment deadlines can turn ‘free money’ into ‘expensive debt’. Most trade credit terms and conditions include penalties for late payments and interest payable on outstanding credit.
Can I cancel my credit life insurance?
You should write to the credit provider and ask it to cancel the credit life insurance and refund any premiums paid, because the policy is inappropriate for you”.
Who is the beneficiary in credit life insurance?
Credit life insurance is a type of insurance policy in which the beneficiary is a lender that the policyholder owes money to. This means that if you get a credit life insurance policy on your loan and you die with an outstanding balance, the death benefit can only be used to pay off the balance of the loan.
Is Coface a good company?
Coface is rated A2, outlook stable since February 2021.
How does Coface insurance work?
Coface Credit Insurance protects businesses from bad debt caused by a customer’s insolvency or payment default. It safeguards cash flow. So should the worst happen and non-payment occurs credit insurance will replace the cash, safeguarding the future of the company.
How much do you get paid when retrenched?
Severance pay – a retrenched employee must at least be paid 1 week’s pay for each completed year of ongoing service. However, the employer must pay the retrenched employee the amount specified in any policy or his/her employment contract, if that amount is larger.
Why choose Atradius UK?
Atradius UK provides trade credit insurance and collections services for UK businesses and as part of a worldwide team with a strategic presence in 50 countries we are able to support our customers wherever in the world they want to trade.
How do I contact Atradius?
Atradius UK and Ireland Headquarters, Cardiff. Tel: + 44 29 2082 4000. Email: [email protected]. Atradius is represented in many countries in various parts of the world. To see specific country office details, please select the country of your choice. Contact Us. Tweets by @atradius.
Where is Atradius located?
Atradius has its UK and Ireland HQ in Cardiff Bay, and a network of offices throughout the UK and Ireland, so that our customers can be assured of our personal services. You can contact us at the address shown below and download location maps for each office.
What is the Atradius Special Products unit?
The Atradius Special Products Unit provides tailored solutions outside the framework of our whole turnover credit insurance policies, to cover trade, trade financings and political risks.