Bad Debt Protection
Protect against customer insolvency or prolonged default with Bibby's Bad Debt Protection service.
Each year UK businesses lose thousands of pounds because their customers are unable to pay or end up insolvent. As part of your funding facility, Bad Debt Protection (also known as ‘non-recourse’) will give you peace of mind, safeguarding you against non-payment. It’s ideal if you’ve had past experiences of bad debt, or a few customers represent a large percentage of your total sales.
Bad Debt Protection Benefits from Bibby include:
- Security – Keep the funds you’ve received in the event of customer insolvency
- Scope – Protect up to 90% of bad debts suffered*
- Choice – Choose which of your customers should be covered
- Pre-empt – Monitor your customers and act before they become a bad debt
- Flexibility – Automatically back date protection on all debts by 60 days
- Speed – Get in touch and you could have protection within 24hrs
* Protection is for 90% of the debt (excl. VAT) subject to a maximum of 90% of the limit. Minimum threshold of £500