How does Trade Credit insurance work?

• Quite often it is noticed that when people want to do business transactions involving larger amounts feel hesitant when it comes to payments terms, as they feel unsecured
• And if the two parties are totally unknown to each other the fear becomes even more evident. ICT Circle has partnered with institutions where this risk is protected by creating their e-wallet which can be refilled whenever the transaction is to carried out, which is further protected by escrow account, this helps both seller & buyers to see that the payment is available for the goods the buyer wants to buy.
• Customers normally use these services to complete transactions on B2B sites. ICT Circle protects the interest of both Buyers and Sellers regardless of the transaction value. The process is simple, e-wallet directly to a business bank account. Whenever the transaction is finalized among Buyer & Seller, the buyer moves the money to their e-wallet so that seller is assured of the payment before shipping the goods
• If the debt collector can’t collect all the payment that you were due, we can help you submit an insurance claim. In this instance, the insurer could pay up to 90% of the insured debt and the collection expenses.
• In this scenario, e-wallet works as a type of pre-paid account in which a user can store his/her money for any future online transaction. An E-wallet is protected with a password. It’s a one-time process as the information gets stored in the database and is updated automatically. ICT Circle makes sure that it’s subscribers do business with complete peace of mind!

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