In today's world, financial risk management is one of the most important issues to be considered. Credit defaults, non-payment of goods, invoices, or any other form of debt are risks that often-put companies in a difficult position.
Turker Group provides a strategic offer for facultative reinsurance on proportional and non-proportional basis.
Trade Credit insurance
protects businesses from non-payment (after bankruptcy or insolvency). If you do not receive what you are owed due to buyer's bankruptcy, insolvency, late payment or other issue, trade credit insurance policy will reimburse you for a majority of the outstanding debt.
The protection allows a company to increase sales with existing customers or to expand business to other territories.
Usually required under the terms of a construction or engineering contract, or in accordance with mandatory legal requirements. A surety bond guarantees that a party (contractor) fulfils its obligation towards another party (principal, beneficiary) according to the underlying contract.
In order to trigger a loss under a bond, the contractor must either not perform or be declared in default, usually via insolvency.