Products:
1. Trade Credit Insurance
2. Debt recovery services
3. Invoice and Factoring

Factoring
Features:
Financing : Up to 90%
Factoring Fee : 0.25% – 2% or min $500 /mth (Funding currency)
Interest : 3% p.a. to 7% p.a. Depending on company and industry
Other fees :
a. Arrangement fee (underwriting) – S$1k (One time)
b. Annual review – S$500
c. Audit (3/6 mths) – S$150 per audit

Application Criteria:
Company Turnover : S$3m
Industries: All except construction and marine and companies with progressive payments involved.
Singapore registered (Including Singapore registered but foreign owned entities)
Security – All directors Personal Guarantee &/or Corporate Guarantee
Negative covenants
a. No process billing
b. Counter claims outstanding
c. Sales of capital goods
d. Sales on consignment, trial, evaluation

Documents required for assessment:
Financials – 2 years (Audited or management)
Account Payable /Account Receivable - not older than 2 months

Export Credit Insurance
Introduction:
Credit insurance is a financial risk management tool which covers the losses sustained by a firm because of non payment of a trade debt.
Credit insurance is for everyone involved in either domestic or oversea trade. It protects the insured’s financial position and allows them to concentrate on building sales whilst the insurer watches over the trade debts.

Application Criteria: Company Turnover: S$10m
Documents required for assessment: Coface credit insurance application form

Bonds & Guarantees
Introduction:
A bond or guarantee provides security to protect a beneficiary against the default or insolvency of the Principal up to the limit of the bond. A bond may be issued to protect the beneficiary against the failure of a principal to complete a contract in accordance with its terms and specifications. It may also be issued to protect a government department against failure of an enterprise to pay taxes or customs duties.

Documents required for assessment:
Financials – 2 years (Audited or management)
Bonds & guarantees wordings
Contract with beneficiary

Note: The aforementioned information is subject to changes at our discretion.

Please do not hesitate to contact our undersigned Pat Lim at (65) 96361182 for further information and clarification.