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Complete Guide To Credit Control For Business

Know-It Global

They contain information about credit utilisation, payment history, outstanding debts, and public records such as bankruptcies or liens. By evaluating the creditworthiness of potential suppliers, companies can minimize the risk of disruptions caused by non-delivery or bankruptcy.

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9 Trade Credit Traps to Avoid

Your Virtual Credit Manager

High risk customers shouldn’t be granted credit. The truth of the matt er is there are times you should give credit to high risk accounts and ways to mitigate those risks. If your gross margins are high enough, you may want to put a cap on the cumulative credit you will grant to high risk customers.

Bad Debt 100
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Trade Credit Insurance for Businesses: Definition, Benefits & How It Works

TreviPay

Trade credit insurance offers comprehensive coverage for various commercial risks that businesses may face when dealing with customers. Key risks it covers include: Customer insolvency : Protection against buyers who declare bankruptcy and cannot pay. Customer service is another critical factor to consider.