To help NAP Industries resolve the situation, the Euler Hermes team brought their depth of expertise to bear on Freund’s behalf. They guided Freund through the complicated bankruptcy case and helped him deal with the demands of the bankruptcy court. Once the customer’s attorney acknowledged the debt they originally listed as disputed, Euler Hermes was able to pay NAP’s claim within 24 hours.
“A customer bankruptcy is not the best experience to go through,” said Freund. “But once it happened, the claim process with Euler Hermes went as smoothly as possible – just as we expected it would.”
From growth, to predicting trade risk, to non-payment solutions, Freund has found great value in his partnership with Euler Hermes. “Trade credit insurance is an investment that gives me the ability to do business.” If something goes wrong, “you get your money’s worth, not only when you make a claim, but when you use it to stay on the right track when doing business,” said Freund.