Advanced Payment Protection (APP) covers advance contractual payments to a supplier. It reimburses the insured party in the event of non-delivery or supply of pre-paid goods or services, where a refund is not given, due to protracted default, supplier insolvency or political risk.

Payments made under contract in advance of delivery of goods or provision of services may also be called:

  • pro-forma

  • deposit

  • upfront payment

  • pre-payment


  • Do you sometimes have to pay in advance for goods and services?

  • Could you import from suppliers outside areas you would normally do business?

  • Do you ever need funding to finance advance payments?

  • Would you get a discount from suppliers if you paid in advance for some goods and services?

  • Do you ever make advance payments on behalf of third parties?

  • Cover against the risks of non-delivery of prepaid goods and services and failure to repay prepayments made

  • Cover against commercial and political risks

  • Up to 90% of your loss will be paid out in the event of a claim

  • Third party policy provides cover for companies that pays the supplier themselves on behalf of a 3rd party

  • Security in business dealings. Peace of mind when taking development opportunities in new markets or with new suppliers

  • Worldwide cover

  • Financial partners could provide easier access to financing

  • A policy that fits specific needs

  • Secure discounts from your suppliers, by making advance payments for goods and services in the knowledge that you’re protected by APP. The discounts can off-set the cost of your policy.

  • The short and long-term costs of suffering from an uninsured loss can be far higher, including the need to finance replacements, affecting your profit and cash flow. This could also cause dissatisfaction with your own customers, or loss of business, if replacements can’t be found in time.

I already have a credit insurance policy, doesn’t that cover me?

Your credit insurance covers you against the risk of your customers not paying you; it does not cover against the risk of non-delivery of goods and services you’ve prepaid for.

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