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Product Description

SME Credit Insurance has been designed in a straightforward way, especially adapted to the needs of small and medium sized companies. You can receive a quote online, obtain support at any time and have a customised contract sent to you in a few minutes. 

The price is set according to your turnover, your profile (including industry sector, number of customers) and options which you select. You can obtain a price online by selecting, within a few minutes, the level of cover to meet your needs.

Experience of defaulting companies shows that even the customers that you think you know well can get into financial difficulty and stop paying your invoices. It is therefore necessary to cover your portfolio of customers without exception to reduce your risk. However, turnover with associated companies, government owned companies or private persons is excluded from our contract and our basis for pricing and the cost to you. 

The price indicated online is all inclusive of the insurance premium (including insurance tax), and the service fees. 

To be covered you must request a credit opinion on the customer before shipping any goods or delivering any services to them. To avoid the risk of not being granted the cover you need, you can anticipate and request a credit opinion before signing a contract with them or even before prospecting a potential customer.

You will be provided an access to an on-line tool ‘Cofanet’ after signing the contract and settling the payment of premium. You could then apply credit cover for prospects and existing buyers in Cofanet. The credit cover will be shown in the value of the @rating and you could apply a full credit limit if the amount of @rating cover is not sufficient.

@rating X  = No cover
@rating NR = SGD8 000
@rating R = SGD8 000
@rating @ = SGD16 000
@rating @@ = SGD32 000
@rating @@@ = SGD80 000

We will adjust the @rating or credit limit of a buyer according to its financial standing. You will be notified via our online tool ‘Cofanet’.

Should the @rating or credit limit of the buyer be reduced or cancelled by us, you will need to adjust or cancel your credit payment terms with the buyer.

As no cover has been granted by us, we don't recommend using open credit terms. If you decide to do so and if you suffer a bad debt, you will not be indemnified.

This is a difficult question as it depends on your customers and your industry sector. However, to avoid binding you into a contract which you may judge disappointing, we have included an opt-out clause: if ever our percentage of cover does not reach a minimum of 65% you would be free to give terminate the contract within 30 days of the date when the contract is signed by us.

As soon as you become aware of any event or potential situation leading to a worsening of your customer’s financial position you must notify us via our online system. This must be done at the latest within 30 days after the invoice due date.

If we collect more than the amount of the indemnity you received, we will pay you the difference, up to the amount of your invoices if we achieved full recovery.

During the quotation process or when reading your contract, please call our hotline on +65 6223 9433. Once your contract is signed, your commercial contact will give you all the details necessary to set up your protection.


Adding a 'loss payee' endorsement to your contract can be done at no cost after signing your contract, based on your bank details.

For increased security of your banker, your policy can only include one 'loss payee' endorsement: then there is no risk of conflict between banks.

We will not tell your customers that you have insurance when contacting them to update our information, or if we do we will ask for your prior approval. You may decide to disclose this information as a sign that your invoices will be chased actively in case of late payment or as proof of sound business management.

Our website provides free analyses on country risk and the business environment of most countries around the globe.
Our online tool provides detailed information on country risk.