LOAN RECEIVABLE INSURANCES
The changing world and increasing risks have increased the importance of Loan (Trade Receivable) Insurance. With its expert and experienced staff, NEN BROKERAGE offers a giant service regarding Loan (Trade Receivables) Insurance, which can protect and grow your financials and create more favourable financial conditions for you by analysing your company's needs correctly.
Loan (Trade Receivables) Insurance
It secures domestic and international sales of goods and services with maturities up to 180 days against the risk of non-payment.
Loan Insurance Provides Assurance Against 2 Types of Risks:
Commercial Risk
Bankruptcy
Late payment
Political Risk (Export)
Political Risk (Export)
Risk of no fund transfer
Risk of non-payment by the public buyer
Why Loan (Trade Receivables) Insurance?
Loan insurance basically targets 3 issues:
Prevent or control the risk,
Provides debt collection,
Ensures that compensation is paid in the event of damage.
Who is eligible for Loan (Trade Receivables) Insurance?
Loan Insurances protect companies that work on term against payment difficulties that may be experienced by their buyers.
Existing and potential customers are audited and controlled by independent institutions.
In case of default of your customer, it also carries out legal proceedings on your behalf and provides collection services.
It secures the cash flow by paying the remaining balance at the end of the collection operation as compensation within the framework of the policy terms and limits.
Sales in advance, sales with letter of credit, sales with letter of guarantee, sales to group companies and state institutions are excluded from coverage.
SME (State Supported) Receivables Insurance
It is an insurance system created with the State Supported System for Small and Medium Enterprises of the Council of Ministers dated 04.06.2018 and numbered 2018/11892.
Communiqués on the amendments to the communiqué on the tariff and instructions of the State Supported Receivables Insurance were published in the Official Gazettes dated 27 March 2019 and numbered 30727 and dated 25 March 2020 and numbered 31079.
The target group consists of SMEs whose domestic annual net sales revenue or financial balance sheet does not exceed TRY 125.000.000.
Who Can Benefit From This System?
- Enterprises classified as Micro and Small Enterprises
Advance, credit card, letter of guarantee, DBS, sales with letter of credit, sales other than sales to the public
Open account, cash against goods and cash against documents sales (including cheques and promissory notes)
Sales with post-dated invoices
Sales to legal entities (sole proprietorship, ordinary partnership, etc.)