Protecting Your Business, and Your Bank Account, in Case Clients Don’t Pay (Published 2016)
Paul Sullivannytimes.com
Protecting Your Business, and Your Bank Account, in Case Clients Don’t Pay (Published 2016)
Debt Cleanse: How To Settle Your Unaffordable Debts For Pennies On The Dollar (And Not Pay Some At All)
amazon.com
Chubb specializes in XoL (excess of loss) trade credit insurance, which means that the insured company agrees in the policy to take a significant loss before “coverage” kicks in.
This is different than ground-up insurers like Atradius, Allianz, and Coface, who will insure entire losses (also known as “ground-up”.)
Instead of chasing non-paying customers after the fact, wouldn’t it be better to assess that risk up front and decide if you even want to accept that sale? We tell our clients, “We’re glad to have your business. These are our payment terms. If you don’t pay us in 30 days, we’ll charge you 2 percent of the outstanding invoice.” You don’t become succ
... See more