COFACE credit limit.
Improve your cash flow and get your payment to your supplier in Europe deferred for 90 to 180 days, with the COFACE export credit insurance.
Newmark Finance is an international consulting company that helps importers from all over the world to improve their trading terms with their suppliers and extend payments to the supplier for 90 to 180 days.
Improve your cash flow and get your payment to your supplier in Europe deferred for 90 to 180 days, with the COFACE export credit insurance.
Newmark Finance is an international consulting company that helps importers from all over the world to improve their trading terms with their suppliers and extend payments to the supplier for 90 to 180 days.
Get a free consultation now.
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About Coface
COFACE (Compagnie Française d'Assurance pour le Commerce Extérieur) - is a credit insurer operating globally, offering suppliers solutions to protect them against the risk of financial default of their clients, both in their domestic and export market.
Coface provides a comprehensive line of credit insurance to protect companies against potential non-payment by their customers which can be spread accross nearly 200 countries.
How does it work? Coface pays your supplier an indemnity to soften the impact of the loss incurred.
If your company has a COFACE limit, you can get a deferred payment from your supplier in Europe (or other county, where COFACE operating) for a period of 90, 120 or even 180 days.
Coface provides a comprehensive line of credit insurance to protect companies against potential non-payment by their customers which can be spread accross nearly 200 countries.
How does it work? Coface pays your supplier an indemnity to soften the impact of the loss incurred.
If your company has a COFACE limit, you can get a deferred payment from your supplier in Europe (or other county, where COFACE operating) for a period of 90, 120 or even 180 days.
How it works
1
Your company obtains COFACE credit limit
You provide us with your company's financial documentation. Our team carries out a set of documents on your company needed to pass through COFACE credit investigation procedure and sends it to COFACE to have your credit limit approved. To confirm your credit limit COFACE issues Coface Business Credit report.
2
Signing the contract with supplier
You sign a sales contract with your supplier deferring payment terms for 90-180 days. To use this tool, your supplier must have a COFACE insurance policy. If your supplier does not have a valid COFACE policy, he will need to open a new one.
3
Credit limit booking
The Supplier books the credit limit (or part of the credit limit) to be able to use it. Your credit limit could be used with multiple suppliers – at least $100,000 with each supplier.
4
The Supplier makes a shipment on deferred payment terms
The Supplier sends you the goods without prepayment. You only pay a deposit for the goods (10%-30% of the order), the balance should be paid within 90-180 days of shipment.
5
COFACE provides a guarantee of non-payment to your supplier
COFACE provides a guarantee of non-payment to your supplier. If your company fails to pay the invoice amount to the supplier, Coface pays them an indemnity to soften the impact of the loss incurred.
6
Optional: Trade Finance Solutions
If your supplier needs an advance payment for the goods, they can use Coface credit insurance as a collateral to apply for export credit facilities from their bank or to get export factoring services from a factoring company.
What is a
Coface credit limit?
Coface credit limit?
Coface credit limit means the maximum amount of trade credit that insured suppliers can give you under Coface insurance. To confirm your credit limit and credit rating, insurance company issues Coface Business Credit report.
The document contains the following information
COFACE credit limit allows your company to negotiate deferred payment terms for 90 to 180 days with your suppliers. If your company fails to pay for the order, COFACE will make the payment to your supplier.
The document contains the following information
- Basic company details
- Management
- Payment history
- Key financial data
- Coface Credit Assessment (expressed as an @rating score denominating the probability of default for the company within 12 months from the date the score was set)
- Coface Maximum Credit Recommendation on your company
COFACE credit limit allows your company to negotiate deferred payment terms for 90 to 180 days with your suppliers. If your company fails to pay for the order, COFACE will make the payment to your supplier.
Steps to getting your credit limit approved
1
Preliminary check
Send us your company's financial statements for the previous 2 full years and the past months of the current year. Our team will calculate the credit limit that could be approved for your company.
We make no charges for this step.
1-2 days
We make no charges for this step.
1-2 days
2
Signing a service contract
Your company signs a service contract with us and hires us to arrange a credit limit for your company
2-3 days
2-3 days
3
Credit report preparation
Our team of specialists carries out an in-depth credit report to ensure that your company will get through the Coface credit investigation procedure successfully.
You pay the credit investigation fee only.
2-3 days
You pay the credit investigation fee only.
2-3 days
4
Credit limit approval
When the credit report is complete, we initiate the credit investigation procedure. We help you to pass the credit investigation successfully and get your Coface credit limit approved.
You pay our service charge only after your Coface credit limit has been approved and the Business Credit Report has been issued.
10 days
You pay our service charge only after your Coface credit limit has been approved and the Business Credit Report has been issued.
10 days
Which companies qualify for credit?
USD 100,000
Minimum applicable credit limit in Coface.
2 years
To qualify for a Coface credit limit, your company must have existed for at least one financial year.
Turnover
Your company must have achieved an annual turnover of more than USD 10 million in the last financial year.
Good image
If your company showed a loss in the last financial year, or if you failed to pay any of your suppliers in China, you do not qualify for the credit limit.
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• United Kingdom
• Belgium
• Bulgaria
• Croatia
• Czech Republic
• Denmark Estonia
• Finland
• France
• Germany
• Greece
• Hungary
• Ireland
• Italy
• Latvia
• Lithuania
• Macedonia
• Republic of Moldova
• Montenegro
• Netherlands
• Norway
• Poland
• Portugal
• Romania
• Serbia
• Slovakia
• Slovenia
• Spain
• Sweden
• Switzerland
• Turkey
• United Kingdom
Middle East
• Egypt
• Israel
• United Arab Emirates
• Israel
• United Arab Emirates
Africa
• Ghana
• Nigeria
• South Africa
• Nigeria
• South Africa
Asia Pacific
• Bangladesh
• Cambodia
• Hong Kong
• India
• Indonesia
• Japan
• Macau
• Malaysia
• Philippines
• Singapore
• South Korea
• Sri Lanka
• Thailand
• Vietnam
• Cambodia
• Hong Kong
• India
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• Australia
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• New Zealand
Contact us
Feel free to write to us or give us a call. We really love to communicate with our clients.
+44 7937 975635
105a Euston St, Kings Cross, London NW1 2EW, UK
+86 130 5843 2240
21/F The Phoenix, 23 Luard Rd, Wan Chai, Hong Kong
105a Euston St, Kings Cross, London NW1 2EW, UK
+86 130 5843 2240
21/F The Phoenix, 23 Luard Rd, Wan Chai, Hong Kong
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