Implementing Trade Credit Policy Spurs Business Growth and Improves Payment Terms
Brown & Brown built a trade credit insurance policy to insure the firm’s accounts receivables from the risk of a customer submitting a delayed payment or entering bankruptcy. Because of these protections, the customer gained the confidence to extend credit terms to its new customers and it enabled them to expand payment terms for its existing customers.
Since the trade credit policy insured accounts receivable, one of the firm’s largest uninsured exposures, the customer was able to build its relationships and revenue. This enabled the firm to grow and provide better payment terms to existing and prospective customers.
DISCLAIMER: Brown & Brown, Inc. and all its affiliates, do not provide legal, regulatory or tax guidance, or advice. If legal advice counsel or representation is needed, the services of a legal professional should be sought. The information in this document is intended to provide a general overview of the topics and services contained herein. Brown & Brown, Inc. and all its affiliates, make no representation or warranty as to the accuracy or completeness of the document and undertakes no obligation to update or revise the document based upon new information or future changes.