COFACE credit insurance. Improve your cash flow and get your payment to your supplier in Europe deferred for 90 to 180 days, with the COFACE export credit insurance.
Axton Global is an international consulting company that helps importers from all over the world to improve their trading terms with their suppliers and extend payments to the supplier for 90 to 180 days.
COFACE (Compagnie Française d'Assurance pour le Commerce Extérieur) - is a credit insurer operating globally, offering suppliers solutions to protect them against the risk of financial default of their clients, both in their domestic and export market.
Coface provides a comprehensive line of credit insurance to protect companies against potential non-payment by their customers which can be spread across nearly 200 countries.
How does it work? Coface pays your supplier an indemnity to soften the impact of the loss incurred.
If your company has a COFACE limit, you can get a deferred payment from your supplier in Europe (or other county, where COFACE operating) for a period of 90, 120 or even 180 days.
How it works
Your company obtains COFACE credit limit
In order to get the Coface credit limit, your company must pass through a credit investigation procedure and receive a credit rating. After the credit investigation procedure, Coface will set a credit limit for your company.
Signing the contract with supplier
You sign a sales contract with your supplier deferring payment terms for 90-180 days. To use this tool, your supplier must have a COFACE insurance policy. If your supplier does not have a valid COFACE policy, he will need to open a new one.
Credit limit booking
The Supplier books the credit limit (or part of the credit limit) to be able to use it. Your credit limit could be used with multiple suppliers – at least $100,000 with each supplier.
The Supplier makes a shipment on deferred payment terms
The Supplier sends you the goods without prepayment. You only pay a deposit for the goods (10%-30% of the order), the balance should be paid within 90-180 days of shipment.
COFACE provides a guarantee of non-payment to your supplier
COFACE provides a guarantee of non-payment to your supplier. If your company fails to pay the invoice amount to the supplier, Coface pays them an indemnity to soften the impact of the loss incurred.
Optional: Trade Finance Solutions
If your supplier needs an advance payment for the goods, they can use Coface credit insurance as a collateral to apply for export credit facilities from their bank or to get export factoring services from a factoring company.
What is a Coface credit limit?
Coface credit limit means the maximum amount of trade credit that insured suppliers can give you under Coface insurance.
The document contains the following information
Basic company details
Your company ID in Coface
Credit period (days)
Your company name
The name of your supplier
Coface Maximum Credit Recommendation on your company
COFACE credit limit allows your company to negotiate deferred payment terms for 90 to 180 days with your suppliers. If your company fails to pay for the order, COFACE will make the payment to your supplier.
What we can do for you
Axton Global provides comprehensive consulting services to help your company get better payment terms by using international credit insurance tools.
We conduct the transaction starting from the initial negotiations to negotiate the terms of granting a deferral and help you pass through the credit investigation procedure. Plus, we structure the transaction on deferred payment terms using credit insurance.
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