Ensuring credit risk management - uncertainty about getting paid can slow your business down, waste your time and can limit opportunities
Insure your paymentrisk when selling
When confirming a bid as a seller on the platform you will be asked if you want to buy insurance. With just 2 clicks and at a price below 1% of the trade value, you can be sure to collect your payment if the counterparty faces bankruptcy.
Relax and feel assured fromsignature to payment
Throughout the period between signing the contract and paying the invoice – you are insured and can claim payment support from Euler Hermes with the click of a button. The process after claiming payment will be handled directly with an insurance professional from Euler Hermes.
Automatic pricing
Insurability & quote pricing is based on the counterparty and market risk
Credit is needed
Insurance is offered on trades where payment terms on the contract offers a credit
Time constrained
Insurance is offered on trades with delivery/collection within the next 180 days
Covid-19
Due to the pandemics’ market effects, the insurable levels has decreased, why less insurances are offered in this time
Frequently asked questions
One of the world’s largest insurance companies, Euler Hermes, has developed the digital solution with which we have integrated our platform. We are regulated as insurance brokers throughout Europe.
When you, as a seller, either submit a bid or receive a bid, you will be offered insurance just before you confirm the bid. Simply tick the box stating that you want to buy insurance and that you agree to Euler Hermes’ terms of insurance – when the deal goes through, the insurance is activated.
There are a number of things that apply for the insurance to be offered:
- Credit must be given in terms of payment on the listing/bid
- There must be a maximum of 180 days from trade and purchase of insurance to delivery of the goods
- Buyer cannot be rated critically low
Euler Hermes has an automated algorithm that takes into account the buyer’s credit rating, the size of the trade and the market risk to calculate the right price. The price will be offered at max 1% of the traded value.
Explore more features
If you enter their name in the message center, you will find them if they are on the platform.
Alternatively, you can find every user on the user map, if you are a premium subscriber.
Yep, either you contact them through their active listing on the marketplace, or you just search for them on the user map, and send them a message (you need to be a premium user to view the user map).
In the message center, you will find a small indication on whether your message has been read on the below right side of the message.