Let us imagine your business has just signed a contract with an overseas client, and you are excited about the growth opportunities that lie ahead. But unfortunately, if the client fails to pay the dues, it would lead to a significant financial loss to your business. And, this is a real risk that businesses face in international trade.
International trade has evolved into a crucial aspect of the global economy. However, with the increasing complexity and risks that come with cross-border transactions, businesses need to be prepared for potential losses that may arise from non-payment of debts. That is where credit insurance comes in – it acts as a safety net for businesses in international trade.