Coface Romania and Banca Romaneasca protect the companies against non-payment risks and support them in obtaining financing
- The insurance against non-payment risk is dedicated to companies with private corporate customers that plan to expand their businesses, and that are selling goods or services or are targeting the development of their client portfolio.
- The non-payment risk for the invoices, the compensation for the losses due to overdue payment, the coverage of both deliveries to international partners and clients’ portfolio - all these are protected by the Commercial Credit Insurance issued by Coface. To support the process of obtaining a financing, the policy may be assigned to Banca Romaneasca.
Coface Romania and Banca Romaneasca are supporting the companies with solutions to protect their business, and is dedicated to all the market players (medium/ large organizations and SMEs).
The insurance against non-payment risk
The Commercial Credit Insurance from Coface has been designed to ensure the companies against the risk of unpaid invoices and to support their growth by including new customers within the insurance policy. This type of policy also covers the compensation for losses due to the overdue non-payment and the deliveries to international partners and clients’ portfolio.
"Through this partnership, Coface reaffirms its support for the Romanian companies, trying not only to secure their claims and support them in the development of their clients’ portfolio, but to help them obtain financing from the bank. The fact that an insurer and a bank decides to have this type of collaboration shows that the local market is in line with the European practice of providing financing and thus liquidity.", said Constantin Coman, Country Manager, Coface Romania.
The insurance helps obtaining the financing
In order to facilitate the process of obtaining financing, the Credit Insurance may be assigned to Banca Romaneasca. Basically, the rights of collecting the indemnity compensation can be transferred to Banca Romaneasca, in order to obtain financing or as a guarantee of the company, thus the customers will benefit from funding secured debts.
"Financial protection is extremely important in a competitive environment and can ensure that the companies will avoid financial blockage, loss of profits and even bankruptcy. The partnership with Coface Group is part of the Bank's long-term strategy to become a partner for Romanian local entrepreneurs.", declared Cosmin Calin, CEO, Banca Romaneasca.
This partnership represents an innovation for the market, which reiterates the Romanian banking system initiatives for financing and Coface’s support for the companies via insurance services.
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