WHO USES COMMERCIAL CREDIT INSURANCE? Any company that works on open accounts with its legal entity customers and issues deferred invoices can use trade receivables insurance.

WHAT DOES INSURED TURNOVER MEAN? If you have a 1-year gross turnover in advance, group companies, letters of guarantee, dbs, sales to the public and individuals, and if you have a policy, your open account turnover, which remains after the deduction of your unsecured turnovers with the insurer in the next period, constitutes the insurable turnover.

IS THERE ANY MINIMUM TURNOVER AMOUNT AVAILABLE? From a practical point of view, the annual insurable turnover generally needs to be at least TL 10,000,000 for the program to be cost effective.

CAN I GET GUARANTEE ONLY FOR CUSTOMER ACCOUNTS THAT I FIND RISKY?  No, Credit insurance covers all future sales of a company, but certain exceptions may apply in very specific circumstances.

HOW MUCH DOES THE INSURANCE COMPANY BEAR THE RISK? It guarantees 90% of the allocated limit.

WHAT IS THE COST OF COMMERCIAL CREDIT INSURANCE? Damages related to your company’s past trade, the sector in which you operate, the credibility of your customers, the general economic conjuncture, the appetite of the insurance company affect the risk management costs you apply to your buyers.

CAN I BE A SUBJECT TO INSURANCE IN CHECK SALES? Since the check is not seen as a collateral instrument, it poses a risk only because it is a payment instrument. And it is within the subject of trade credit insurance in Czech sales.

WHO OWNS THE ATTORNEY’S COSTS IN CASE OF DAMAGE? Attorney’s fees are covered by insurance companies in case of damage within the limit.

WHY SHOULD I WORK WITH A RELIABLE INSTITUTION? Credit insurance + good policy management = safe trading; Only a good team can provide this.

IS THE POLICY MADE FOR A SINGLE BUYER?Although it is not common in Turkey, a policy can be issued for a single buyer. However, the price can be expensive.

HOW LONG IS THE POLICY DURATION?Policies are issued for 12 months.

ARE BANKRUPTCY AND BANKRUPTCY POSTPONED OR CONCORDATTO COVERED BY GUARANTEE? If the postponement of bankruptcy is based on the document obtained from the Court, like bankruptcy, it is under guarantee and your damage is compensated within 30 days. Concordat is considered as a default and your damage is compensated within 150 days from the date of your application when it is learned.

WHEN CAN I RECEIVE MY DAMAGES AT THE INSURANCE COMPANY?The waiting period is 30 days in case of bankruptcy and bankruptcy postponement and 150 days in case of default.

IS IT REQUIRED TO MAKE AN INVOICE STATEMENT TO BE COVERED? Only in case of damage will a copy of the Invoices be requested. In any other case, no invoice will be submitted.

CAN WE USE THE POLICY WITH BANK GUARANTEE? Yes, you can insure your risks, for which the bank letter of guarantee is not sufficient, with the limits you receive from the insurance company.

CAN WE USE THE POLICY AS A FUNDING TOOL? You can assign your policy to banks per buyer or as a whole policy and use more favorable terms.