The United States accounts for just 5% of the world’s population, which means that U.S. companies can benefit from real growth when exporting. While risk is inherent to growth, U.S. exporters of all sizes can protect themselves when selling to international customers on credit terms with export credit insurance services. Export credit insurance reduces the risk of foreign buyer non-payment when extending open account payment terms to international customers.U.S exporters have the option of insuring export credit sales for a foreign buyer or multiple foreign buyers in approved markets worldwide. Here are a few benefits:
- Export credit insurance provides up to 95% coverage against foreign buyer non-payment due to certain political or commercial risks.
- It enables exporters to extend competitive credit terms of up to 180 days to international customers and in exceptional cases, exporters are able to extend credit terms of up to 360 days to foreign customers.
- Insurance premiums on export credit sales are only paid when the policy is used.
- When export receivables are insured, International Growth Strategies is able to advance money directly to the exporter upon shipment. U.S. exporters don’t have to wait to get paid when extending credit to foreign buyers.
IGS is a dynamic insurance broker dedicated to developing and implementing sales growth strategies to help our client companies achieve the highest level of success. We make it easier for buyers to purchase your products and services while we manage the related financial risks through trade credit insurance. Get a free consultation today.