Trade Credit Insurance definition

Trade Credit Insurance means a transaction to provide conventional or Shariah compliant insurance or reinsurance to any person in relation to risks associated with international trade or a trade investment;

Trade Credit Insurance means trade credit insurance in such amounts, with such deductibles and with such insurers as are customarily used by companies operating in the same industry as Borrower or which Borrower has historically used (and which is acceptable to Lender). The Trade Credit Insurance shall, at a minimum, insure ninety percent (90%) of the face amount of each insured Account.

Trade Credit Insurance an insurance policy and risk management product that assists in the management and mitigation of risk to us. The insurance policy is an agreement made between us and the Trade Credit Insurer;

Examples of Trade Credit Insurance in a sentence

• A “legal export” is defined as an export that is not against or in contravention of current legislation in force in New Zealand.` The Applicant understands that New Zealand Export Credit will rely upon the information provided in this application to determine the appropriateness of providing a Short-term Trade Credit Insurance.

• In the event that the Administrative Committee determines that the benefits actually paid with respect to a Participant, or Spouse, if applicable, exceed the benefits that were properly payable pursuant to the Plan, the Administrative Committee may, in addition to exercising any other legal remedies available, reduce or suspend future benefits in any manner that the Administrative Committee in its sole discretion deems equitable.

• It undertakes to promptly provide to New Zealand Export Credit any additional information as they may reasonably require in respect to the assessment and monitoring of the Short-term Trade Credit Insurance.` I authorise the Bank/Insurance Company specified in this application to disclose to New Zealand Export Credit any information which New Zealand Export Credit may reasonably require in connection with this application, or during the life of the Short- term Trade Credit Insurance.

• Almost all of our receivables are guaranteed with the Direct Debit System, the Credited Direct Collection System and the Trade Credit Insurance.

• However, we have insured some of our trade receivables through Trade Credit Insurance Policy, if we fail to accurately evaluate the credit worthiness of our customers, it may lead to bad debts, delays in recoveries and / or write-offs which could lead to a liquidity crunch, thereby adversely affecting our business and results of operations.

• A Trade Credit Insurance Program is in place with Coface and is already used by all the sites in scope of this policy.

• The combination of the due diligence that was undertaken and the Trade Credit Insurance Policy—assuming compliance with the Trade Credit Insurance Policy requirements—would bring the risk associated with the incremental $4 million in trade credit down to a level where profit making opportunities could trump the risk.

• Examples include corporate or bank guarantees received in support of bank lending (both the obligor and the guarantor must default prior to a loss risk), or issuance of a Confirmation on Export Documentary Credits (both the Importer and the Issuing Bank must default prior to a loss risk), and Trade Credit Insurance policies which function in a manner similar to a guarantee received from an insurer.

• Products in this business line include Freight Insurance (for a series of cargo logistics processes), Engineering Insurance (for machinery), Ship Framework Insurance, and Trade Credit Insurance (for the risk of default by consumers).

• Order made Trade Credit Insurance protects companies from the risk of non- payment from their business customers that they have extended credit to.

More Definitions of Trade Credit Insurance

Trade Credit Insurance means insurance of suppliers against the risk of non- payment of goods or services by their buyers who may be situated in the same country as the supplier (domestic risk) or a buyer situated in another country (export risk) against non-payment as a result of insolvency of the buyer or non-payment after an agreed number of months after due-date (protracted default) or non-payment following an event outside the control of the buyer or the seller (political risk cover). Political risk cover is available only in case of buyers outside India and in countries agreed upon at the proposal stage.

Trade Credit Insurance means insurance that the Client has obtained covering the repayment of trade credit. Trade Credit Insurance Claim means an insurance claim made pursuant to the Trade Credit Insurance Policy.

Trade Credit Insurance means, with respect to Eligible Wholesale Receivables or Eligible Wholesale Foreign Receivables, trade credit insurance on terms and with insurers acceptable to the Administrative Agent in its sole discretion. Without limiting the generality of the foregoing, unless agreed to in writing by the Required Lenders in their sole discretion, such trade credit insurance shall only be acceptable to the Administrative Agent if (a) the Administrative Agent shall have received (i) a true, correct and complete original of the policy of insurance (including all endorsements, amendments and modifications thereto including those following the Amendment No. 2 Effective Date) in respect thereof and (ii) an assignment thereof pursuant to a collateral assignment agreement in form and substance satisfactory to the Administrative Agent and (iii) a loss payable endorsement thereto, in each case, in form and substance satisfactory to the Administrative Agent and (b) the Administrative Agent shall have a duly attached and perfected first priority Lien under New York law and under the law of each other jurisdiction governing the attachment, perfection or effect of perfection or non-perfection or the priority of the Administrative Agent's Lien on such policy of insurance.

Trade Credit Insurance means, with respect to Eligible Wholesale Receivables or Eligible Wholesale Foreign Receivables, trade credit insurance on terms and with insurers acceptable to the Administrative Agent in its sole discretion. Without limiting the generality of the foregoing, unless agreed to in writing by the Required Lenders in their sole discretion, such trade credit insurance shall only be acceptable to the Administrative Agent if [(a) ]the Administrative Agent shall have received (i) a true, correct and complete [original] copy of the policy of insurance (including all endorsements, amendments and modifications thereto including those following the Amendment No. 2 Effective Date) in respect thereof and (ii[) an assignment thereof pursuant to a collateral assignment agreement in form and substance satisfactory to the Administrative Agent and (iii]) a loss payable endorsement thereto, in each case, in form and substance satisfactory to the Administrative Agent[ and (b) the Administrative Agent shall have a duly attached and perfected first priority Lien under New York law and under the law of each other jurisdiction governing the attachment, perfection or effect of perfection or non-perfection or the priority of the Administrative Agent’s Lien on such policy of insurance].

Trade Credit Insurance means, with respect to Eligible Wholesale Receivables, trade credit insurance on terms and with insurers acceptable to the Administrative Agent in its sole discretion. Without limiting the generality of the foregoing, unless agreed to in writing by the Administrative Agent in its sole discretion, such trade credit insurance shall only be acceptable to the Administrative Agent if the Administrative Agent shall have received (i) a true, correct and complete copy of the policy of insurance in respect thereof and (ii) a loss payable endorsement thereto, in each case, in form and substance satisfactory to the Administrative Agent.