Credit Guarantee insurance: Entrepreneurs and traders are under serious financial risks due to the indebtedness of some members of their trading cycle.
The relevant financial losses may be due either to insolvency and complete refusal to pay, or even to the extended deferral of repayment of debts.
Credit insurance is intended to cover such financial losses.
Credit insurance is an excellent tool at the disposal of each modern entrepreneur, since it protects the business from commercial and political risks that can not be foreseen. The purpose of credit insurance is to cover these financial damages.
In particular, it is insurance against non-payment of financial receivables from credited sales of products or services to buyers.
Especially in export credits the risks are great and may be due to reasons completely independent of the will of the debtors.
Guarantee insurance is a product – solution provided in all developed foreign markets and facilitates the operation of reputable creditworthy companies without the need to pledge assets to issue a letter of guarantee.
Filling certain positions of trust in a company, such as the cashiers of the collector, the material manager, the consultant, etc., often entails financial losses for the company, due to the dishonesty of the people who hold these positions.
The purpose of this type of insurance is to protect the insured person from this dishonesty of employees and associates, (hence it is called employee and associate trust insurance), which may be expressed in the form of breach of financial obligations, embezzlement, appropriation.
These are the guarantees of project proper performance, repayment of the loan, fulfillment of obligations from participation in procurement tenders and other commercial fidelity guarantees, for which the guarantee activity is usually exercised by the banks with the respective letters of guarantee, therefore no relevant insurance sector has been developed in our country.
At Promist A.E. we can provide you with a solution to cover the above risks, through specialized companies.
We care for your safety and your immediate service whenever you need us!