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Non-Payment Insurance (NPI) – A brand new insurance solution dedicated to Banks
Some of you may already be acquainted with Non-Payment Insurance as a component of a Trade Credit Insurance (TCI) Program. Within this framework, Non-Payment coverage safeguards a company's accounts receivable and compensates the policyholder for the invoice amounts of goods and services provided to approved buyers who default due to financial or political circumstances. Significant events that may activate TCI Non-Payment coverage include breaches of contract, non-certification, embargoes, warfare, political violence, and government intervention, as well as non-payment for reasons other than commercial disputes. It is important to note that this TCI solution is not all-encompassing; it only extends to accounts receivable for a specified buyer within an agreed-upon credit limit. Typically, the primary users of this solution are exporters.
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