Clients selling goods or services on credit terms are vulnerable to bad debt and payment defaults. No matter how carefully they run their business, slow and bad debtors can be a problem.
Trade Credit protects cash-flow by covering your client’s losses if a debtor defaults on payment or becomes insolvent, giving them the peace of mind to focus on growing their business.
Our Trade Credit team looks after businesses of all sizes, from smaller local enterprises to large organisations with global scope. Our commercially-minded underwriters will work with you to design a credit solution to suit your client, who’ll also benefit from our debtor alerts and credit management tools to optimise growth.
- A+ rated security gives brokers and customers the confidence they need to partner with QBE
- On-call dedicated underwriters with industry specialisation
- High service levels, including access to decision makers and face-to-face support for you and your client
- Global expertise across a broad range of industries
- Lost working capital is quickly replaced
- Policies can be assigned to a financier, which may increase your client’s borrowing capacity
- International information network allows early warning of potential payment difficulties
- Online portal enables customers and brokers to tap into a vast network of real-time underwriting information, analysis and assessment
- Credit management tools to improve cash-flow.
Cover for your client’s entire credit sales – including all local, national and international customers – with policies structured to meet their specific needs and budget. We can extend policies to cover offshore political risks, pre-shipment manufacturing risks and a range of industry-specific adaptations.
Tailored cover for medium to large businesses requiring protection on their largest or selected customers. Credit limits are individually assessed and premium rates, indemnity levels, excesses and other parameters can be structured to meet your client’s specific requirements.
Selective options include:
- Major debtors – a selection of major customers based on a minimum value
- Top accounts – agreed number of the largest customers
- Single account – one specific customer
- Another selection that works for your client.
We’re agile, open-minded and inventive when it comes to exploring new product solutions. We offer a range of specialist credit solutions tailored to suit businesses, corporations, finance providers, premium funders, educational institutions and other organisations.
To find out what we can do for your client, contact us.
Risk management model
Trade Credit System (TCS)
TCS is our global web-based Trade Credit platform. It allows you to manage your portfolio of Trade Credit policies and enables your client to maintain their policies on a day-to-day basis.
With TCS, you and your client can:
- Manage credit exposures and credit limits in real time – 24/7
- Access policy documents and credit limit history
- Lodge and monitor limit applications, claims and notifiable events
- Produce clear and consistent documentation and risk decisions
- Access comprehensive activity tracking, policy reports and service level information.
The non-payment of trade debts following insolvency (e.g. receivership, liquidation, and bankruptcy) and protracted default. If the trade debt is from an export transaction, various political risks can be included.
Yes, it’s designed to complement and support good credit management and help your client trade with confidence. We respond promptly to increases in credit limits and can help if a customer is slow in paying an account.
No, it’s for business-to-business transactions, such as manufacturers selling to wholesalers, wholesalers to retailers or contractors to builders.
Premiums can be calculated as a percentage of your client’s turnover or on a fixed fee basis and are reflective of their industry, their debtors’ quality and whether their customers are local or international. We can generally tailor our products to meet both your client’s risk coverage requirements and budget.
We’ll ask you about the industry and location of your client’s larger debtors, the length of the terms of payment, history of bad debts and the credit control processes.
Claims are payable 30 days from our receipt of the Confirmation of Debt from the insolvency practitioner in charge of the failed debtor. Protracted default claims have a waiting period and require evidence of action taken to receive the amounts owed.
Yes, working across Australia, Europe, North America and the Asia Pacific region, we’re able to offer policies on a local, regional or global basis.