Credit risk

• Credit

Credit insurance is currently the most effective tool for managing commercial risk and the inconveniences resulting from non-payment of trade receivables. Not only from the non-payment of these latter and the expenses that this involves, but also a whole series of additional services:

• Updated information on customers and their creditworthiness
  This will allow us to direct our commercial efforts towards those clients or sectors that offer sufficient solvency to guarantee our patrimonial stability.
• Collections management
  Collections management has gone from being a contingency to a well-nigh strategic area in any company. Around 80% of companies suffer non-payments and the cost/time generated by these actions is very high.
• Compensation and/or advance payment
  The most intrinsic service we take out credit insurance for: recovering the amount of unpaid debts.

• Surety

Surety insurance is a guarantee that seeks to ensure the fulfilment of an obligation assumed by a customer to a third party, designated as the beneficiary.
A surety insurance company will compensate the beneficiary for financial damage if the policyholder fails to meet his or her legal or contractual obligations

Main advantages compared to a Bank Guarantee:

• Surety insurance does not compute risk in CIRBE (the Risk Information Centre of the Bank of Spain).
• The cost of surety insurance is usually less than that of a bank guarantee.
• Surety insurance generally does not involve the freezing of funds.
• Insurance companies offer more flexible conditions.
• Surety insurance facilitates the development of a company’s commercial activity.