SMALL BUSINESSES AND ENTREPRENEURS
We believe Small Businesses and Entrepreneurs are the future of Africa’s economic stability, hence we support their future of Small Businesses in Africa.
Protection against non-payment of credit sales from date of delivery
Appropriate for companies that do not have an extremely large turnover or an established credit management team
Minimal administration on your part
Enhanced security to finance providers
Basic Policy Structure
No buyers may be excluded; you offer your entire debtors book for cover.
Fixed amount payable monthly in advance by debit order, which will be reviewed annually.
The percentage of the insured debt that will be paid by Credit Guarantee in the event of a loss.
Early settlement of a claim option
A claim under payment default, will be due for payment six months after the due date. An earlier settlement of your claim (up to three months) is advisable subject to a maximum claims value and a small reduction in the insured percentage.
Non qualifying loss
The amount that will determine whether you qualify for a claim or not.
A percentage of premium will be refunded from the end of the second insurance year; depending on the overall claims performance and the duration of the policy Government buyers and/or subsidiary/associated companies.
Admin Guide – Small and Medium Enterprise Cover
Brochure – Small Medium Enterprise Cover
YOU DON’T HAVE TO GO AT IT ALONE
Even when well-run and successful, the small to medium-sized enterprise can find its well-laid plans ruined by non-payments it doesn’t anticipate. Watch the video below to learn how Credit Guarantee offers the smart SME the flexibility to prepare for, and swiftly respond to unforeseen risks.
Interview with Gideon Bochedi about how Credit Guarantee is helping build the economy, guiding SMME’s to avoid risk. #BDTVSMESummit
Non-payment of an insured debt due to any of the following occurrences
- A provisional or final sequestration order granted against your insured buyer
- The provisional acceptance by the court of a voluntary surrender of the insured buyers’ estate
- A provisional or final winding-up order granted against your insured buyer
- The acceptance of a statutory compromise or scheme of arrangement binding on all the insured buyers/creditors
The failure of your insured buyer to pay an undisputed insured debt within three months after the due date.
The formal process introduced in terms of Chapter 6 of the Companies Act providing for the rehabilitation of financially distressed companies whereby: Your insured buyer filing a resolution to place itself under supervision or a court ordering that your insured buyer be placed under supervision.
GENERAL EXCLUSIONS FROM COVER
Government buyers and/or subsidiary/associated companies