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A Step-by-Step Guide to Securing Trade Credit Insurance
Securing trade credit insurance shouldn't be complicated. Whether you're protecting your exports, managing financial risks, or ensuring payment security, having a seamless process to apply for coverage is essential. At Etihad Credit Insurance (ECI), we’ve designed a straightforward journey to help UAE businesses safeguard their transactions efficiently. Here’s what to expect when applying for trade credit insurance with ECI.
Step 1: Choose the Right Coverage
ECI offers a range of trade credit insurance solutions tailored to exporters, banks, and investors. Identifying the right coverage for your business needs is the first step.
Step 2: Apply Online
Once you’ve selected the appropriate coverage, gather the necessary details and documents about your business and buyer. Submitting an application is quick and straightforward.
Step 3: Risk Evaluation & Premium Quote
Our team of experts will assess the risk associated with your transaction and buyer before providing a customized premium quote. You’ll also receive details on policy terms, endorsements, and conditions.
Step 4: Policy Issuance
Once the quote is accepted, the policy is signed by both parties, and the premium is paid. This finalizes your coverage and ensures that your trade transactions are protected.
Step 5: Managing Your Policy
- Issue invoices according to the agreed terms.
- Report quarterly turnover (for multiple-buyer policies).
- Adjust credit limits as necessary, with ECI’s support.
Step 6: Overdue Notification & Claims
- If a buyer faces payment difficulties, notify us immediately.
- We will manage amicable and judicial recovery procedures if a buyer defaults.
- If a claim is valid, ECI will indemnify the insured amount, providing financial relief.
Why Choose Etihad Credit Insurance (ECI)?
✅ Seamless process for obtaining trade credit insurance.
✅ Expert risk evaluation with a customized approach.
✅ Reliable protection against payment defaults.
✅ Dedicated support throughout the policy lifecycle.
Conclusion
Protecting your business from financial risks has never been easier. With ECI, securing trade credit insurance is a seamless journey that ensures stability and growth in international markets.