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What is credit insurance?

  • Factoring Credit Ins.

Credit insurance is meant to protect you against risks of client default due to insolvency. It is meant namely to:

  • Provide against client risk: We follow up the daily financial situation of your clients and prospects;
  • Optimise the recovery of your receivables: We intervene amicably or by legal procedure as soon as we are aware of a payment default by taking the right approach for your case;
  • Compensate your client outstanding payments: in the event of bad debts, we compensate you within a very short time limit.

For whom is credit insurance meant?

  • Factoring Credit Ins.

For any business involved in credit sales. Your accounts receivable can be in Mauritius or abroad.

What cover does this insurance policy offer?

  • Factoring Credit Ins.

Compensation for losses incurred from the non-payment of guaranteed trade receivables, during commodity sales or service provisions. 

What is covered by the guarantee?

  • Factoring Credit Ins.

Your accounts receivable in Mauritius

And for export, your accounts receivable in countries covered by your contract excluding namely ministries, municipalities/district councils, semi-public (parastatal bodies) and your sister companies.

 

How does the guarantee work?

  • Factoring Credit Ins.

When you sign the contract with Cim Finance, an automatic guarantee is granted to all your eligible accounts receivable up to 15,000 Euros. The application for guarantee must be made individually by each of your accounts receivable for guarantees higher than 15,000 Euros or for each of your accounts receivable set in high risk zone countries.

The maximum duration of covered credit: 120 days as from the issue date of your invoice.

 

What are the terms of compensation?

  • Factoring Credit Ins.

We process cases of outstanding payments on an individual basis.

The application for legal intervention must be submitted within 30 days of the first outstanding payment of your accounts receivable.

Deadline for compensation:  3 or 5 months following the recording of your application for legal intervention by Euler Hermes France.

Compensation level: 80% or 90% of the guaranteed accounts receivable, excluding VAT.

 

What are the collection services?

  • Factoring Credit Ins.

As soon as your application for legal intervention is transmitted, the collection of your guaranteed accounts receivable is undertaken with the possibility of legal proceedings against relevant debtors.

What is the duration of my contract?

  • Factoring Credit Ins.

One year, automatically renewable (possibility of non renewal at the end of each term provided a minimum one month’s notice is given)

How do I apply for credit insurance?

  • Factoring Credit Ins.

To apply for credit insurance, contact us. Our customer representative will give you more information.

Credit purchase

Shopping has never been so convenient

Fill in the information below and simulate your repayment capacity

Finance Amount (Rs)
Interest (%)
Repayment term
Part payment

Capital repayment

Interest paid

INFORMATION SUMMARY
Monthly instalment
Rs 1,745.10
Finance Amount
Rs 10,000
Part payment
0.00
Interest paid
0
Repayment term
6 months

Please note that:

  • Insurance not included.
  • Calculation results are approximations and for information purposes only.
  • Quoted rates are not considered as guaranteed rates and repayments will be based on your personal circumstances, Credit facility amount and term.
  • All requests for credit facilities are subject to standard credit approval.
  • The calculations assume that all payments are made when due.

You are taking a lease

Leasing:
Price:
Age of Vehicle:
Period:
Down payment:

Monthly rental(Rs)

Finance amount (Rs)

Residual value

Repayment term (month)

Please note that:

  • Insurance not included.
  • Calculation results are approximations and for information purposes only.
  • Quoted rates are not considered as guaranteed rates and repayments will be based on your personal circumstances, Credit facility amount and term.
  • All requests for credit facilities are subject to standard credit approval.
  • The calculations assume that all payments are made when due.

Cim Voyage

How about taking a vacation with your family and friends to explore other shores?

Fill in the information below and simulate your repayment capacity

Finance Amount(Rs)
Interest (%)
Repayment term

Capital repayment

Interest paid

INFORMATION SUMMARY
Monthly instalment
Rs 1,745.10
Finance Amount
Rs 10,000
Part payment
0.00
Interest paid
0
Repayment term
6

Please note that:

  • Insurance not included.
  • Calculation results are approximations and for information purposes only.
  • Quoted rates are not considered as guaranteed rates and repayments will be based on your personal circumstances, Credit facility amount and term.
  • All requests for credit facilities are subject to standard credit approval.
  • The calculations assume that all payments are made when due.

Credit Facility

The solution to your immediate need for a credit facility!

Fill in the information below and simulate your repayment capacity

Finance Amount(Rs)
Interest (%)
Repayment term

Capital repayment

Interest paid

INFORMATION SUMMARY
Monthly instalment
Rs 1,745.10
Finance Amount
Rs 10,000
Interest paid
0
Repayment term
6

Please note that:

  • Insurance not included.
  • Calculation results are approximations and for information purposes only.
  • Quoted rates are not considered as guaranteed rates and repayments will be based on your personal circumstances, Credit facility amount and term.
  • All requests for credit facilities are subject to standard credit approval.
  • The calculations assume that all payments are made when due.