Euler Hermes, a global trade credit insurer, has launched its new flagship policy for the Asia-Pacific region. The product, Corporate Advantage, will allow businesses to customize their trade credit protection according to their specific needs.
The straightforward policy will cover trade credit receivables for both domestic and export markets, and it features a modular design with over 80 options. It is recommended for medium and large businesses that need flexible solutions for their growth plans.
Holger Schaefer, head of Euler Hermes Asia-Pacific, said: “When selling on open terms a company is providing credit, and at the same time running the risk that customers may not be able to pay. On average, trade receivables represent between 20% and 40% of a company’s assets. This means unpaid invoices impact more than most people anticipate. Corporate Advantage is an efficient, tailored solution that can help businesses make strategic trading decisions while maintaining sound credit management.”
Corporate Advantage also includes access to a debt collection service, which will handle claims payments, contribution to debt recovery legal costs, and reduced policy administration.
“When you have a business to run, you don’t want to waste time or human resources pursuing commercial debts,” Schafer added. “Outsourcing late payments collection to an experienced partner frees in-house teams to focus on core business activity.”
Corporate Advantage is currently available in Hong Kong and Singapore, with other markets such as China, Taiwan, Japan, Australia, New Zealand, Malaysia, Indonesia, and Thailand to follow in 2017.
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