Clyde & Co – COVID 19: Trade Credit Insurance during quarantined trade
- FOIL Ireland
- FOIL Scotland
- London FOIL
Author - CSL Chambers, New Delhi: Sumeet Lall (Partner), Sidhant Kapoor (Senior Associate), Nikhil Lal (Associate)
Over the years, a multitude of changes in the economy, has increased the need for trade credit and enhanced the scope for the credit insurance sector, manifold. Particularly, Micro, Small, Medium enterprises have started largely relying on this model for their working capital facility and secure their payments for the supplies made.
To give fillip to the growth of credit insurance market and bolster the credit insurance business in India, the guidelines on Trade Credit Insurance dated 10 March 2016 were published by the Insurance Regulatory and Development Authority of India (‘Guidelines’).