COVERAGE FEATURES

The Guarantee Company of North America Credit Insurance policy is designed for Canadian companies.

• Buyers are underwritten on their own merits, and allocated specific credit limits
• Coverage is available for most goods and services including customized products
• "Basic" policy covers insolvency and protracted default for goods shipped or services rendered by the insured during the policy period
• Discretionary credit limits can be granted by the insured if warranted
• "Basic" policy covers buyers located in North America (Canada and USA). "Extended" policy can cover buyers in other countries
• Policy period is usually twelve months
• Deductibles can be applied to reduce premium costs
• Coverage is available to protect the insured against pre-delivery risks

ADMINISTRATION OF POLICY

Applying for Credit Insurance coverage from The Guarantee Company of North America is easy and straightforward.

CLEAR APPLICATION

• The nature of the applicant's business
• Loss history on insolvency and past due accounts
• Buyer profile summaries
• Collection and credit management procedures

EASE OF ADMINISTRATION

• No annual administration fee
• Initial annual policy premium based on projected sales
• Premium adjustments based on periodic sales reports
• Payment of premiums and fees through insurance brokers. (Financing may be available)

RESPONSIVE CLAIMS SERVICE

• Adjusted by our in-house professional staff.

COLLECTION ASSISTANCE

• Assistance in collecting insured past due accounts.

HELPFUL CREDIT INFORMATION

• Credit experience available on prospective buyers.

Need help? Check the Glossary.