The 2020 Atradius Payment Practices Barometer is an annual survey that assesses the payment behaviour of businesses worldwide. The report published in Q3 2020 analyses the results for Western Europe including the United Kingdom.
We are often asked by clients about the difference between Financial Accounts and Management Accounts and why credit insurers request this information. Here we address these differences, summarise how insurers use this information and provide an update on why up to date financial information is requested by insurers more frequently in the current environment.
On 30 December 2020 it was confirmed that the Government backed Trade Credit Reinsurance Scheme will be extended by 6 months to 30 June 2021.
In terms of trade credit the most the common type of fraud is Short Firm. This is where suppliers are defrauded through buyer impersonation or fraudulent orders. Here we offer our top tips for our clients to avoid or sport this form of fraud.
Six changes to insolvency law that may affect your business. Three temporary and three permanent changes to insolvency legislation aimed at supporting businesses during the pandemic are affecting suppliers.