Trade Credit Insurance
What is it?
WorkingTogether
What is it?
Trade Credit Insurance (TCI) gives you the protection and pease of mind to know that if you raise an invoice, and if your customer accepts it, you will be paid.
By using GFTM you can convert unsecured invoices into insured revenue. You will know that you will receive money for the invoices come what may, allowing you to leverage those funds for further lending.
You can insure one invoice at a time, perhaps to a new supplier, or for a one off sale. You have total flexibiity to insure as little ot as much as you like provided it is within the
How does it work?
We will let you know in real time what credit limit is allowed on each of your clients. ALl you have to do is send through the invoice to us, and it will be insured.
Once we have received the invoice we will monitor payment. The GFTM platform has an automated debt chasing and monitoring facility which we will use to keep your customer informed of payment dates.
If the debt passes its due date we will make efforts to get the debt paid contacting the client.
If the debt remains unpaid after 30 day, as the debt will behanded onto a debt collection specialist, and your customer will be contacted, and asked to pay within 30 days. If the customer still fails to pay at this stage you will receve a 90% of the net value from us. In addition you will be able to claim VAT relief.
You remain in Control
We won’t reveal specific invoice details or reveal the name of any of the other suppliers, but all contributors of data will be verified.
We record all the data taken from your cloud accounting, and you can view this at any time. We do not write to your accounts package, and we only take data on invoices sent and payments made to and from your customers. We do not record any other data, such as bank or your supplier data, and only use data concerning your customers.