In addition to protecting you from a loss, your EDC Portfolio Credit Insurance policy can be leveraged to:
Knowing your sales are insured for specific events can help you free up funds to promote your business in new markets, pursue new customers, keep your operations and sales cycles running smoothly and provide more favourable payment terms to your customers.
When your financial institution knows that you are insured for a U.S. or foreign contract, it may have the confidence to provide you with increased funds or forego its usual requirements for collateral.
Your financial institution may want to be added to your policy as the beneficiary of a “Direction to Pay.” This is a document that directs EDC to pay claims under the policy directly to your financial institution.
To request that your financial institution be added to your policy as the beneficiary of a Direction to Pay, follow these steps.