As a supplier, you can run up high costs. Especially when working on long-term projects or contracts. If your customer doesn’t pay, you could find yourself facing a cash flow crisis. Cover One is a credit insurance that protects you against the risk of non-payment over the course of a single contract or project. The policy can be tailored to the terms of your contract and to all tendering requirements. It gives you non-cancellable bespoke cover for contracts up to 3 years.
Check your customer and close the deal: Apply for Cover One before you enter into the project or contract with your customer. After acceptance of your application, you can close the deal and you’ll be insured against long-term non-payment, insolvency and political risk.
We take care of collection: Has your customer failed to pay, even though you’ve sent a reminder and a formal warning? Pass the receivable on to Euler Hermes for collection. Our collection department will then try to recover your debt.
We pay out your claim: Has the customer still not paid after the collection process, or is it insolvent? We’ll pay the claim for your project based on the agreed cover percentage.
Identify your project risks and reassure your financial partners by obtaining cover over the entire project.
Your projects and contracts are protected and your cash flow and working capital are guaranteed.
Identify safe opportunities for growth and expansion in Belgium and abroad.
A single contract may bring higher risks if the value is higher than usual or if the contract term is longer than a year. Cover One lasts up to three years and can be tailored to suit your contract terms and meet any tendering specifications. Essential cover when bidding in new markets or dealing with new buyers.