Benefits for Nexus Trade Credit Policyholders
As a policyholder of Nexus Trade Credit you are entitled to preferential rates and access to First Place Collections – an exclusive service from STA International designed to support your UK based debt recovery needs.
1. UK collections
Nexus Trade Credit policyholders that sign up to First Place benefit from our Principal Plus service, where we recover our collection costs directly from your buyer – not from you.
You’ll only pay STA’s commission if any of the following apply:
- You amend the debt amount after placement.
- You accept a full and final settlement equal to or less than the placed amount.
- You decline STA’s funded legal action to recover commission from the debtor (as per Clause 6.3 in our Terms & Conditions).
In all other cases, STA absorbs the recovery costs, giving you peace of mind and protection on your margins.
2. International Collections:
Nexus Trade Credit policyholders also enjoy preferential rates on international collections:
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8% commission for debts within the EU
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12% commission for debts in the Rest of the World (ROW)
You can place debts online via Your Debts Online where you’ll also have access to our progress on each debt; our costs and charges by debt, your invoices and statements and our overall collection success rate. If you already have access to Your Debts Online or want to register, you can do so here.
INTERESTED IN LEARNING MORE ABOUT BECOMING A NEXUS TRADE CREDIT POLICYHOLDER?
Nexus Trade Credit is one of the UK’s leading suppliers of Trade Credit Insurance and related credit management services. Its policies provide companies with comprehensive protection from the risk of bad debts – default – and customers’ business failure, all underwritten in the Lloyd’s market. Learn more about credit insurance with Nexus Trade Credit.