Funding advanced against confirmed orders up to 85% against overseas unpaid invoices. The funder will chase the invoice.
The level of cover that an insurance policy will settle claims subject to compliance on all terms and conditions.
A judicial or administrative procedure whereby the assets and affairs of the buyer are made subject to control or supervision by the court or a person or body appointed by the court or by law, for the purpose of reorganisation or liquidation of the buyer or of the rescheduling, settlement or suspension of payment of its debts.
There are different types of Insolvency, and for the people who administer them:
- Debenture holders will put a company into Administration or Receivership to recover their charges.
- Where there are no funds, Liquidation applies and through the Official Receiver if there are insufficient funds to pay fees.
- For individuals (Sole Traders and Partnerships) the route is Bankruptcy.
The party offering insurance policies for premiums, also known as an underwriter.
The amount owed to the policyholder by the Buyer but not more than the Insured Loss as defined by the approved policy credit limit.
Irrevocable (Documentary) Letter Of Credit
Unalterable obligation of a bank authorising a person or company to draw money up to a specified amount, usually via a third party bank, subject to documentary compliance.