Default Document High-Risk Accounts 
TreviPay
SEPTEMBER 18, 2024
Trade credit insurance has become a vital tool for businesses looking to protect themselves from the risk of non-payment by customers. This type of insurance acts as a safety net, covering unpaid invoices when clients default or face financial difficulties. Higher-risk customers or industries lead to higher premiums.
Your Virtual Credit Manager
APRIL 11, 2023
Poor Credit Controls: Poor credit control practices can result in providing goods or services to high-risk accounts that are likely to pay beyond terms or even default on payments. This is because your customer has to match your invoice to their receiving documents and PO. It is not a static document.
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Your Virtual Credit Manager
NOVEMBER 14, 2023
Purchasing Credit Insurance, however, will only reduce the risk problem if: The policy covers the financially weak, higher risk customers. Credit Insurance policies often exclude individual, high risk accounts. Insurers want to be paid for the risk they bear. The policy cost is acceptable.
Your Virtual Credit Manager
JUNE 27, 2023
Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts. This persona may exhibit characteristics such as a history of defaults, financial instability, industry volatility, or a poor credit rating. it just might help them pay you sooner!
Know-It Global
JUNE 20, 2023
Similarly, suppliers can evaluate the risk of late payments or default, allowing them to set appropriate credit terms. Engage in constructive negotiations with customers to settle overdue accounts and consider offering payment plans or structured repayment options to customers facing financial difficulties.
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