Trade credit insurance is an option to cover your business against your customers insolvency and payment default.
Policies can be tailored to suit your business needs – to cover a single debtor or your entire debtor book.
Unsecured debtors generally make up to approx. 40% of the current assets on a typical balance sheet.
How well do you know the strength of your key customers?
Can they continue to settle their account on the unsecured credit terms agreed?
How would your business survive if one of your customers owing you $50,000 collapsed and was unable to pay?
A $50,000 bad debt at 5% net profit margin would require new business of $1million to return you to the pre loss position. Can this be achieved in the following 3 to 6 months?
Important benefits to your business
With the backing of the McLardy McShane Group we can leverage specialist expertise and better rates from insurers due to our size and network. We offer great service and better coverage at competitive prices. Our reputation is based on delivering great service and above all else, placing people over profit.
Jackaroo Timber has been associated with Terry Callaghan for over 15 years. All our dealings with Terry have been totally professional, with exceptional service. Terry follows up with all our enquires, which are completed with a high quality and very promptly. I would highly recommend Terry & McLardy McShane Trade Credit.
– Michael Craven
Owner of Jackeroo Timer Pty Ltd