Efcis

Trade Credit Insurance provides cover for businesses for an insured loss incurred due to non-payment of a domestic or overseas invoice as a consequence of insolvency of the end customer or non-payment after an extended period of delay (protracted default). The policy can include political risk cover, pre-credit, or work in progress as well as trade specific clauses usually associated with certain trade sectors such as recruitment, finance, advertising, meat, fruit & veg and construction.There are various types of policies available.

We are a medium sized company that sells chemicals to specialised markets. The majority of our trade is export, and it can sometimes be very difficult to obtain current financial information on customers on which to base credit limit decisions. In addition, our customers vary their trade during the year resulting in high balance "spikes" at any one time.

With over 20 years' experience in the provision of Global Company Reports and non-financial information, we recognise that the quality and availability of information differs from country to country and Provider to Provider. At EFCIS we can source Global Company Reports on behalf of our Clients from several approved providers worldwide.

Bonds or Surety Guarantees are a written promise to pay for direct loss or damage suffered by a third party as a result of a breach of contract. Many types of Bonds or Guarantees are subject to underlying security and the risk being acceptable to the Guarantor. At EFCIS, we have the expertise to place Bonds and Surety with a number of specialist Underwriters.