Debtor insurance or Credit Insurance is the protection against non-payment of a company’s receivables. In today’s environment companies both small and large face many challenges; from increased competition, lower margins, higher costs, recessionary economic conditions, unpredictable changes in government policies and management errors. This can mean a company can fall into bankruptcy with very little warning. Protect yourself against insolvency or non-payment of one of you customers and trade with confidence.
Key points of a policy:
- Receive up to 90% of any loss you suffer
- Be covered for trade up to 90 days from end of month
- Have any collections and legal costs covered
- Policy is an unsecured facility
- Price is based on 12-month insurable turnover and normally range from 0.1-0.7% of turnover
Key Benefits of a policy:
- Enjoy swift access to replacement capital with funds injected back into business from a claim payment
- Protect your hard earned profits and shareholder interests
- Increase sales to both existing and new clients without the worry of a bad debt
- Improve credit management
- Improve access to finance
A fast and affordable payment system that allows pre-approved builders, subcontractors and suppliers easy access to early payouts of progress claims. Why wait 30 days or more when the cash can be in your bank within 24 hours of submission? Faster payments allow your business to pay your trades and suppliers sooner and gives you the peace of mind of knowing the money is available as and when you need it.
If you are a developer or owner looking to fund a project Quantec offers a range of solutions to suit the project type and funding model required. We also offer expert consultancy in field of Feasability Studies, Project Cost Planning, Design Cost Control, Budgets, Project Documentation, Services Consultancy, Structural Design, Shop Detailing, Tender Management, Risk Assessment and Project Cost Management.
All projects managed by Quantec come with comprehensive range of insurances to cover our clients for Contractor Insolvency and the recovery of losses for Contract Time over runs.