Products

Credit Insurance

In order to manage and mitigate risk effectively, a traditional off-the-shelf approach is no longer a responsible way to approach credit risk management.

At Niche Credit Risk Solutions, we gain a deeper understanding of our client's business and the unique risks they are exposed to. We ensure our solutions are adapted to the environment in which they operate

We endeavour to read between the lines of the debtors' book and this approach yields profound benefits.

We are not affiliated to an underwriter and are consequently able to provide credible, impartial advice to our clients.

Our specialist expertise extends into:

• Pharmaceutical
• Wholesale and distribution
• Media
• Electronics
• Freight forwarding
• Agriculture
• Construction
• Office automation
• Steel
• FMCG

Cover you may require:

• Domestic cover - Supply of goods or services in South Africa (Risk transfer).
• Export cover - Supply of goods or services worldwide (Risk transfer).
• Self-insurance - On- or off-balance sheet, as part of or independent of domestic or export cover (Risk financing).
• Global policies - We have international alliances with a network of independent global brokers in order to access global underwriters and administer policies for multi-national companies.

Please refer to the applicable policy document which is included here for your convenience:

• Trade Credit Proposal Form - Combined(Click here for downloads)
• Insurance Broker Appointment Form(Click here for downloads)

Bonds and Guarantees

Bonds play a vital part in domestic and international trade and in particular protect taxpayers against the loss of public funds.

A bond may be issued to protect the beneficiary against the failure of a principal to complete a contract in accordance with its terms and specifications. It may also be issued to protect a government department against failure of an enterprise to pay taxes or customs duties.

Whilst bonds and guarantees used to be issued mainly by banks, the security of an insurance company is now equally acceptable in the majority of countries.

HOW CAN I APPLY FOR A BOND/GUARANTEE?

Complete the bond proposal form, once this is received quotes will be obtained from all insurers. The process should take about 2 weeks depending on the complexity and size of the facility required.

Should the quote be accepted the insurer will draw up a facility agreement as well as any security documents which need to be signed. Once done they can begin issuing the guarantees.

The client will typically be approved for an overall facility amount, and the insurer will then issue the various bonds out of that facility. The premium is charged on issued bonds only and normally on an annual up front basis.

TYPE OF BONDS/GUARANTEES

Niche can assist in bond/guarantee requirements for the following industries:

• Any importers & exporters
• The clearing & freight industry
• Fuel industry
• Utilities
• Facilities management
• Education
• The travel industry
• Construction industry:
  • Bid / Tender Bonds
  • Advance Payment Guarantees
  • Performance Guarantees
  • Retention Guarantees
  • Materials on-/ off site Guarantees
  • Customs and Excise Bonds
  • Payment Guarantees
  • Warehouse Bonds

Please refer to the policy document which is included here for your convenience:

• Bonds and Guarantees Proposal Form(Click here for downloads)