Protection from non-delivery due to insolvency for pre-paid goods.
Paying up front for any goods will include an element of risk. If an advance payment is required, the insolvency of your supplier could leave you without the goods and the advance you paid.
To help protect you against this specific risk we have developed a range of advance payment cover and pre-export finance cover up to 95%, depending on the terms of your specific policy. Every policy is tailored to each contract, with a premium calculated to match your exposure at each of the milestones your contract may include.
Our advance payment protection policies have the flexibility to support your access to finance. For example, if your bank is funding the advance payment and takes assignment of the contract, we can issue the policy directly to them.
Key features and benefits
- Available for a wide range of transactions, from supply of capital goods to services
- Protects you and your lender from the risk of supplier insolvency
- Up to 95% cover available for periods of up to three years
- Flexible cover levels, with the adaptability to incorporate the involvement of banks as the advance payment provider
- Enables banks and lenders to increase transaction and credit capacity