This cover protects you against possible Payment Default by Your debtors/Customers.
If you are an exporter or trader, an Insurance policy can cover your domestic and international debtors.
Types of covers offered
- Short term whole turn over credit insurance(WTO-CRI) – Payment terms under this policy is 12 months and covers up to 90% of the invoice value of your goods.
- Medium-to-long term single obligor credit insurance(MLT-CRI). The policy normally purchased when repayment terms are between two to five Years, but coverage can be extended to 10 Years. It covers up to 90%of your commercial risks and 100%of your Political risks. Policies are written on a transaction-by-transaction or on a single obligor basis.