D-1-6-1- Conduct of a credit insurance



Payment processing is one of the main preoccupations of companies with international transactions. Doing business is important, but compensation is essential. Esandis offers you free training space dedicated to international transactions, and all the skills you need to become an export or import manager. Our objective is to provide you an understanding of the importance of the payment component of an international transaction.

1-6-1-1- Credit insurance: definition

Credit insurance can be defined in a few words, but first it's necessary to divide credit insurance into two groups: Export credit insurance (supplier warranty) and buyer's credit warranty.

Credit insurance is intended for international transactions in both exporting and importing. It's coverage offered by insurance companies to protect against unpaid bills coming from SME and major companies.

1-6-1-2- Credit insurance conduct step by step



Exporter

Credit insurer

Importer

     

Exporter

 1-Contract

Credit insurer

         

 Exporter

 2-Contract

Importer

 Exporter

 

3-Line of credit application

 Credit insurer

 

 

4-Line of credit agreement

   

Exporter

5-Delivery and billing

     

Importer

Exporter

6-Nonpayment

7-Notification of nonpayment

Credit insurer

8-Recovery request

Importer

Exporter

10-Payment
 

Credit insurer

9-Insolvency report or statement