Coface provides a comprehensive line of credit insurance to protect companies against potential non-payment by their customers, with cover provided in approximately 200 countries.
How does it work?Coface pays you an indemnity to soften the impact of the loss incurred. Once the payment arrears is ascertained, our experts step in to collect the receivable from your buyer. We implement proven collection techniques in order to maximise the chances for successful collection.
This “made by Coface" protection is based on a powerful prevention system: our experts are working around the globe to analyse the financial strength of companies and anticipate payment arrears. Through this continuous review, we provide feedback on part or all of the customer portfolio in a spirit of complementarity and partnership with you.
- Anticipate and resolve payment arrears from a customer;
- Benefit from the quality and strength of Coface’s prevention;
- Receive personalised advice from a Coface expert present in your market;
- Focus on growing your business.
Coface solutions to control your risks
Delivering a valuable service…Coface insures the trade receivables of a French SME that produces aromatic ingredients. This company, which has genuine know-how and an excellent reputation, is on the verge of obtaining its first major contract with a mass market retailer of household fragrance products.
After an in-depth analysis of this retailer’s situation, Coface warns the company of the customer’s non-payment risk. The CEO, with input from the plant manager and the head of sales for large accounts, is nevertheless prepared to proceed with this order, which alone would increase the company’s annual sales by 5%.
After further reflection, the chief financial officer decides to request a meeting with a Coface analyst, who convinces him emphatically of imminent and serious difficulties with the prospect. In the end, the company passes up the deal and leaves it to a competitor. That competitor is never paid by the retailer, which files for bankruptcy just a few weeks after the meeting with Coface.