Trade credit insurance claims and deadlines

Start with your policy

When an insured business buyer misses a payment, your first task is to find out what your own policy requires and when. An overdue notification, a claim filing and an insurer payment are separate events. Each may have a different trigger, deadline and set of documents.

This guide helps credit and accounts receivable teams organize those steps, especially when a buyer is overseas. Start with the signed policy, schedule, endorsements and insurer instructions. Record confirmed dates in the planner below, then keep evidence of what you sent and when.

What to do when an insured buyer does not pay

Confirm the unpaid balance and original due date against the invoice, payment records and agreed terms. Ask your buyer for the reason for nonpayment and record any response. A dispute about the goods, invoice or contract needs to be identified, not treated as a simple late payment.

Find the policy that applies to the sale and check its schedule, endorsements, buyer limit and reporting instructions. Look for early warning or adverse-information obligations as well as overdue reporting. Insolvency or other adverse information can trigger a different action from an ordinary overdue invoice.

Assign someone to contact the insurer or broker and verify the reporting channel. Note the date, recipient and any written instructions. Continue appropriate recovery steps in line with the policy and those instructions. Do not wait for the claim filing date to start checking what is required.

Notification, claim and payment: separate events

An overdue notification tells the insurer that a buyer has not paid or that another reportable event has occurred. A claim submission asks the insurer to assess a loss and may require a formal form and supporting evidence. Some policies use different terms or combine parts of these steps, so read the definitions in your wording.

A waiting period may determine when a loss event occurs or when the insurer can assess or settle a claim. It is not automatically the last date to file. The insurer payment period, if specified, may begin only after the insurer receives a complete submission and requested documents. It is not the deadline for reporting an overdue account.

For each event, write down the trigger, the action, the date, the recipient and the evidence of receipt. A date in one column should never stand in for another without a policy basis. If the date is unclear, leave it blank and ask the insurer.

Find the trigger and deadline in your policy

Start with the wording and edition named in your contract. Read the relevant schedule and endorsements alongside the general conditions: a schedule may supply the period, threshold, buyer or country details that the general wording refers to. A written decision or instruction may also affect the next step.

Identify what starts the clock. It might be the original due date, the expiry of an extension period, knowledge of insolvency, a defined default or a request from the insurer. Check whether the clause refers to sending or receipt and whether a threshold or exception applies. Confirm calendar days, business days, month-based periods, holidays and endpoint counting before calculating.

Keep the policy country separate from the buyer country. The first identifies the policy and issuing market you are checking; the second tells you where the buyer is located and where collection may take place. An exporter’s policy can cover foreign buyers without making its terms a rule for every buyer country.

Maximum extension periods and changes to payment terms

A maximum extension period, often called an MEP, is a policy term concerning how far a payment due date may be extended under the applicable conditions. The permitted period, its starting point and any exceptions depend on the policy and schedule. It is not a universal grace period, a claim filing date or permission to make any change you wish.

Before agreeing a new payment date, payment plan, settlement or other change, check the applicable wording and ask the insurer whether approval is needed. Obtain and retain any required written approval before changing the terms. Record both the original and revised dates, the scope of the agreement and the insurer’s response.

If the buyer proposes an extension close to a reporting deadline, check the reporting requirement separately. A discussion with the buyer or broker does not by itself show that the insurer received a required notification.

Debt collection, insurer instructions and consent

Your policy may require you to take reasonable steps to reduce a loss, follow a collection procedure or use a specified process. It may also restrict particular actions or require approval. These requirements vary; do not assume every insurer requires approval for every collection step.

Before appointing an outside collector, check the policy and confirm with the insurer whether the claim is eligible for external collection, whether approval is required and who may instruct the collector. Ask how fees, recoveries and communications should be handled. Keep the response with the claim file.

If the insurer confirms that external collection is appropriate, Debitura is an international debt collection platform that matches business claims with local collection partners. You can follow the case on the platform. The insurer and Debitura are separate; using the platform does not establish insurance coverage or imply an insurer endorsement.

Build your policy deadline calendar

Use the planner to record dates from your own documents or insurer instructions, and mark each date as confirmed only after you have verified it. Add a separate row for each action, such as an overdue notification, extension review or claim submission. Record the responsible person, reporting channel, policy reference and confirmation status so a colleague can act on the reminder.

For example, an invoice may be due January 10 and your policy contact may confirm a notification deadline of February 15. Enter those dates as separate facts. The example is an illustration of data entry, not a rule that calculates the second date. Add the actual notification date only after it has been sent, and retain proof of receipt where relevant.

Leave unknown dates blank. Download the entered events as a calendar file or CSV for your team, then review them when the policy or insurer instructions change. A reminder is a planning aid, not a coverage determination or legal advice. The signed policy, schedule, endorsements and insurer instructions control; confirm triggers, exceptions and counting rules before acting.

Documents to keep for a claim

Build a file as the account develops, rather than reconstructing it after a deadline. The insurer’s requested documents and the facts of the case determine what is needed. A practical starting list is:

• The policy, schedule, applicable endorsements, buyer credit decision and relevant insurer correspondence.
• The contract, purchase order, invoices, agreed payment terms and evidence of delivery or performance.
• A current statement of account, payment records, credits and a reconciliation of the outstanding balance.
• Buyer communications, reminders, payment proposals, disputes and any resolution.
• Notifications and submissions, supporting documents, proof of receipt and written instructions or approvals.
• A record of recovery activity, amounts received and fees, where relevant.

Keep the file accurate as payments or disputes develop. Check with the insurer before sharing sensitive documents with an outside party, and follow the insurer’s requested format and channel.

Illustrative policy examples and frequently asked questions

The following public specimens show why the document edition and event trigger matter. They are illustrations, not presets or evidence that either wording applies to your policy.

Allianz Trade Switzerland: Simplicity general conditions, 020.2-ENG-10.23

Section 7 requires the insurer to receive a claim notification with a collection option before expiry of the relevant period. For non-insolvency it refers to 90 days from the first overdue date. For insolvency it refers to 30 days after the insured knew or should have known, including when no receivable is overdue; if insolvency arises during the first period, the earlier expiry applies. The collection service is not guaranteed. Section 9(d) separately addresses payment after a complete notification and required documents. Do not convert the wording into an automatic last calendar date. Read the policy specimen.

US EXIM: short-term comprehensive multi-buyer exporter specimen, 04/2022

Article 7 describes a claim submission window of 90 to 240 days after default, alongside other triggers and requirements, including a prior written payment demand. Article 10 defines days as calendar days and defines default differently depending on payment terms. The invoice due date is therefore not automatically the relevant default date. Check the declarations, country schedule, endorsements and full wording. Read the policy specimen.

What should I check first when an insured overseas buyer misses a payment?

Confirm the balance and original due date, then check your policy, schedule and insurer instructions for the relevant reporting trigger, channel and deadline. Record any dispute or adverse information and ask your insurer when the requirement is unclear.

Is an overdue notification the same as a claim?

Not necessarily. A notification reports an event; a claim submission seeks assessment of a loss. Your policy may combine steps or use different terms, so follow its definitions and instructions.

Does the maximum extension period tell me when the insurer will pay?

No. An extension period concerns payment terms under the policy. A waiting period, claim submission deadline and insurer payment period are separate concepts and can have different triggers.

Can I appoint a debt collector before contacting my insurer?

Check your policy and the insurer’s instructions first. Confirm whether the proposed collection is eligible and whether approval or a particular process is required before appointing a collector.

Does the buyer’s country determine the insurance deadline?

Not by itself. Start with the policy issued to your business and its schedule and endorsements. The buyer’s location matters separately for collection and any country-specific terms in that policy.

Check your policy before arranging collection

Confirm with your insurer that external collection is appropriate and whether approval is required.