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Services for Manufacturers,
Wholesalers, Retailers, Exporters and Trading Companies
When you study a trade credit insurance
policy you know that there is more to it than simply paying
the premium and "putting it on the shelf" until its
next annual renewal. In fact, if you have looked at political
and commercial risk coverage for receivables, you know that
there are more ways to make mistakes than you ever thought possible.
Your policy may include:
- Buyer Credit Limits
- Country Credit Limits
- Policy Credit Limits
- Discretionary Credit Limits
- Excess of Buyer, Country and/or Policy Credit Limits
- Annual Policy Renewal
- Buyer Credit Renewal (Different from annual renewal)
- Buyer Limitations
- Country Limitations
- Policy Limitations
- Fee Schedules - policy, country and/or buyer
- Monthly, Quarterly or Annual Premium and Shipment Reports
- Monthly, Quarterly, or Annual Past-Due Reports
Keeping track of all of these factors individually, and for
each buyer under the policy, can be a daunting task. Even the
most experienced among us can make mistakes. That is why Trade
Banker® was created. It eliminates
most of the common errors and addresses the most common reasons
for claim denial.
IT GUARDS AGAINST THE FOUR KEY REASONS
FOR CLAIM DENIAL:
- Failure To Report ALL
transactions
- Underreporting ALL
transactions
- Inadequate Buyer Limits (shipping without
coverage)
- Late Filing (and late premium payment)
First, it guides you through the process
of loading the insurance policy terms and conditions into the
system. Virtually every insurance policy type that is commonly
written in the U.S. (and internationally) can be installed onto
the system. Trade Banker®
requires that data be entered in specific fields so "acts
of omission" are minimized.
Information on each buyer is quick and easy to load.
Trade Banker® stores this
information in your own proprietary database. Then, as you enter
the information on each invoice (manually or through Trade
Banker's® unique electronic,
automated data upload feature), Trade
Banker® will verify that the
invoice matches ALL the terms and conditions of the policy.
Finally, when payments are received and entered into the system,
Trade Banker®
will automatically pay off invoices and increase the availability
of that buyer's credit limit. No more guessing if you are covered
on new shipments.
Best of all, both of these functions - invoice and payment input-
can be automated. This dramatically lowers the costs of managing
insurance and trade finance lending. For the automated data
upload feature, Trade Banker®
uses the convenient and universal delimited ASCII format. This
mitigates against data entry errors from the very beginning
and utilizes a user-friendly format. No high-tech operating
issues are required of your IT people.
How does Trade Banker®
work? Here is a simple diagram
of how this on-line system works:
One of the most important features of the system is the data
management or reports function. All reports are in Microsoft
EXCEL® Workbook format so they are easy to use, easy to
save and easy to incorporate into other reports and databases.
The easiest part of reporting is the ability to e-mail your
monthly, quarterly or annual premium or past due reports to
the insurance company. Most insurers now accept reports in this
manner. You will no longer have to question what is covered
and when it was reported!
New and unique reports can be created for your specific needs.
Programmers at Lex-Tek International can create these reports
for each user at nominal additional costs.
In fact, for all of the parties below, Trade
Banker® can satisfy everyone's
need for policy information:
| Insurance
Companies: |
- Premium and Shipment Reports
- Past-Due Reports
- Accurate and timely administrative requests
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| Policy Holders (Non-
Bank): |
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| For Cash Managment
and Accounts Recievable |
- Invoice Status Reports
- Receivables Aging Reports
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| Shipping Departments: |
- Buyer Credit Limit Availability Reports
- Country Schedule of shipping restrictions
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| Treasury Department: |
- Advance Allocation Reports
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| |
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| Lenders: |
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| Credit Departments: |
- Advance Allocation Reports for
borrowing base management
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| Audit Departments: |
- All Reports for borrowing covenant
compliance
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| Country Credit
Managers: |
- Buyer Credit Limit Availability Reports
- Advance Allocation Reports Country Schedule of shipping
restrictions
(Trade Banker®
can be used as a country risk management tool for smaller
banks that do not have internal systems of measuring
theirs and their borrowers' country exposure.)
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| Trustees
and Financial Arrangers for Security Placements: |
- All reports as part of trustee
functions to manage borrowing base, debt covenants,
rollovers and repayment terms.
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Trade Banker®
is a cost-efficient system of managing your trade credit insurance
needs to:
- Eliminate human errors
- Reduce manpower costs of administration and management
- Improve employee efficiency and proficiency
- Reduce Claim Denials
- Provide reports in user-friendly MS Excel® format
- Improve and increase financing-eligibility of insured
receivables
- Requires no special software installation - easy for IT
administration
- Provide a high security environment - four levels of password
protection guards against unauthorized access
- Available 365/24/7 (no vacations, leaves or holidays)
Trade Banker®
is available as an on-line system, you do not have costly "Return
on Technology Investment" to calculate. It is a monthly
service, just like your telephone bill, only it pays for itself.
License Fees are designed to meet each individual user needs.
AND
you are only paying only for this service, not for extraneous
features or additional products that you do not need or want.
For more information, Contact
Us or call (404) 223-2453 for more information.
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