As a Tokio Marine HCC policyholder, you qualify for a discounted and fixed rate of commission when you use our debt collection service to recover your overdue International invoices. We collected from 158 countries in the past twelve months, with 60% of debts placed on EU trade debtors. 75% of all recoveries came from our efforts in the UK, saving you the additional costs of overseas agents, and expediting payment.
We add interest and our costs to the principal debt placed as per the Late Payment of Commercial Debts Act and, when successful, your debtor, not you, pays our costs.
You can place debts online via Your Debts Online where you can also see our progress on each debt; our costs and charges by debt, your invoices and statements, and our overall collection success rate. We remit collected and cleared funds, every two weeks via BACS.
INTERESTED IN LEARNING MORE ABOUT BECOMING A TOKIO MARINE HCC POLICYHOLDER? Tokio Marine HCC’s credit insurance is a proven way to reduce your credit risk and protect your business’s cash flow from any serious payment delays and/or the insolvency of any of your customers. If you are involved in export business, it covers your foreign buyers and the potentially damaging effects of non-payment caused by political risks. If you would like to know more about credit insurance with Tokio Marine HCC, you can visit their website here.