At Lloyds TSB Commercial Finance we understand that bad debt is a risk that every business faces in the current economic climate. You may run a very successful business, but have you thought about what would happen if a major customer became insolvent?
Lloyds TSB Commercial Finance, in consultation with Chartis Europe Limited (one of the UK’s leading Trade Credit Insurers), have developed a Debtor Insurance solution that is not only competitively priced, but we believe it to be the most flexible on the market.
Credit limit coverage – If within 30 days of sign up we cannot offer you cover on at least 55% of your ledger, by value you may cancel with a full refund of premiums paid.
Flexible – no long term lock in. You can give us one calendar months’ notice at any time to terminate your policy.
We want you to grow – achieve turnover growth of 20% (up to a maximum of £500k) without any additional charge.
Protection – we cover you for up to 90% of the value of a bad debt suffered.
Cash Flow – our policy allows bad debt provisions to be reduced and replaces cash flow that would have been lost due to bad debt.
Trade in confidence – protects both overseas and domestic debt and our credit monitoring service may help you identify a potential credit risk before it becomes a bad debt.
Hassle Free – simple claims process and on-line policy management system keeps you in control.
Costs
We can offer Debtor Insurance at competitive rates. These will vary according to the size of your business and the sector within which you operate, but will typically range from 0.15% to 0.85% of your annual turnover. There is no minimum premium, and unlike other providers, we do not lock you in to a long term agreement.