Short time deals insurance
What is short-term transactions insurance?
Short-term transactions insurance is intended for companies who carry out transactions or unique projects and are interested to protect credit sales in the framework of these projects for business customers in Israel or abroad.
The policy provides protection against non-receipt of payment due to:
- Economic difficulties
- And for exports - nonpayment due to political events in their country,(such as: war, revolution, prohibition of sending foreign currency, nationalization, cancellation of the import licenses and more).
- This insurance cover ensures that you receive payment for the transactions completed, also in such cases.
Highlights of the program
Insurance of short-term transactions enables you to protect transactions you carried out, both in the local market and in the framework of foreign trade:
For government or public customers
Protection against non-receipt of payment due to political risks in the customer's country, such as: war, revolution, prohibition of sending foreign currency, nationalization, cancellation of the import licenses and more.
For companies and corporations
Protection against non-receipt of a payment from customers due to:
- Political risks in the customer's country, such as: War, revolution, prohibition of sending foreign currency, nationalization, cancellation of the import licenses and more.
- Commercial risks insolvency or economic difficulties of the customer.
The program is a basis for financing transactions through the banking system in Israel:
- Financing on the basis of discounting invoices – the suppliers credit policy which is similar to ICIC's other products.
- Financing on the basis of discounting notes – the unique notes discounting policy which is acceptable to the Israeli banking system.
Advantages of short-term insurance transactions in ICIC
- Credit risks management service – receipt of a professional recommendation, based on an analysis of the ability of customers to pay the Company and monitoring in-depth information, regarding the amount of credit recommended for every customer. This service assists the insured Company when taking significant decisions in the sales processes.
- Security – protection of the insured's cash flows and financial balance sheet, in long-term transactions.
- Peace of mind – thanks to the convenient terms of the insurance adjusted to the rules of the OECD and the professional and experienced team, which provides advice and assistance in sharing credit risks and in collections.
- Access to quality information on the customer and its country – the information available at Euler Hermes – the largest credit insurer in the world and one of ICIC's shareholders.
- Rapid response – receiving initial indications and solutions for requests by ICIC's team within a few days.
- Personal relationship – personal adaption of the policy according to an analysis of the transaction and in coordination with the financing factors.
- Financial strength – insurance with ICIC assists the insured company in its relations with banks and financing bodies on the basis of ICIC's financial strength.