Secure your livelihood
in minutes. Get protection
for your cash flow and
future revenue.

Credit insurance helps protect your business against customer defaults,
giving you the confidence you need to grow safely. It will replace crucial lost
cash flow at the time you need it most.

Let’s get started

We speak your language

Retentions

We can structure a policy so that it can even pick up aged retentions that were raised prior to the policy commencing. With many contractors having to give up 3-5% in retentions, this amount is lost if the client goes bust, often long after you have finished on site. Standard is 2.5% at 12 months and 2.5% on practical completion, but we can discuss other retention agreements.

Applications for payment

Raising applications and payment certificates is very common with most work in the construction sector. We ensure that your policy mirrors the way that you raise applications and payment certificates. A little known fact is that even uncertified applications can be covered at the point of insolvency. In this instance, usually an impartial QS will be asked to verify the completed works and this will then be sent to the insurer to make a claim. We also work with funders that are able to advance a large % of an uncertified application on day one instead of being based on the payment certificate.

Binding Contracts Cover

Certainty of cover is key with ongoing projects in the construction sector. Our policies can be structured in such a way that you benefit from up to 6 months continuous cover on a debtor, even if the insurer has pulled or reduced the credit limit. When you have contractual obligations to stay on site, having this certainty of cover is invaluable – particularly if you are using an Invoice finance facility.

Off-Site Costs

An often overlooked risk in this sector is works carried out off site, or materials purchased or stored for that particular project. For example, steel bought and fabricated for a particular project, client goes bust before you’re on site. Where does this leave you? Well we can look to cover 90% of the costs incurred for this bespoke fabrication which you have spent time and money on, prior to raising an invoice to the client.

Increase access to finance, as we can provide your bank with the reassurances they need when extending finance to you
Gaining a competitive advantage in your market through identifying opportunities as well as risks
A reduction in your bad debt provision and, in turn a healthier balance sheet
The confidence to seek out new markets and customers and benefit from the growth this may bring

Questions? Get them answered now

In claims paid out in the last 6 months

Years experience in the Credit Industry

Banks and funders utilising our services

Countries covered for export sales

Safeguarding business, it’s what we do.

Trade safely knowing you’re covered.

We don’t expect you to know everything about Credit Insurance or its benefits. That’s why we have put together a short video to help explain the basics, but in a nutshell, Trade Credit Insurance protects your business from losses caused by the failure of a customer to pay an invoice. Giving you peace of mind whilst allowing you to grow confidently.

Protecting your business.
Giving you peace of mind.
No nonsense, just results.

Ready to get started?

Let’s talk

What are the
benefits to Construction Companies?

The future is not always as expected, we predict trade and credit risk today, to protect cash flow tomorrow. So our clients trust us to help mitigate the biggest risk on their balance sheet – their debtor book.

Improved cash flow

Many contractors utilise Invoice Finance or Factoring facilities. By using a standalone Credit Insurance policy, you can often gain higher funding levels at lower rates. You’ll also look more secure to your banks which may enable better facilities or pricing as a result. Moreover, by drawing down funds against uncertified apps or payment certificates, you get access to YOUR money on day 1 instead of waiting 30/60/90 days for it.

Sustainable Growth

Rapid turnover increases are common in the Construction sector, but this is where many businesses have become unstuck. Taking on low margin, fixed price jobs, and not having an idea of the strength of the underlying supply chain. Why not grow with clients that have been pre-vetted and protect yourself from non-payment at the same time?

Customer Vetting

You have the ability to tap in to the insurers extensive database of information on clients and prospects within your ledger. Just because you are paid on time by your client – does this mean that they are not in financial trouble? This proprietary information also allows you to extend larger credit limits to your existing ledger, safe in the knowledge that you will be paid in the event of a claim.

Balance Sheet Protection

Maths is simple right? You are on a 7% margin, and one of your clients goes bust and you have invoices outstanding of 200k. You’ll need to generate close to £3 MILLION of new business to replace that on your balance sheet. Add to that the lost turnover from your client going bust, and it’s not such an easy task. A Credit insurance policy would typically pay you back 90% of this outstanding amount, leaving you in a far stronger financial position. DO NOT UNDERESTIMATE THE IMPACT OF A BAD DEBT.

I have BDP already….?

Then you will already be utilising some kind of invoice finance facility. Many of these funders charge including VAT, making them 20% more expensive from the start. They may also have capacity or limit issues as they will only be using 1 insurer. We would approach the whole market to ensure you get the best combination of cover and cost. The funder can then fund up to the insurers limits and they can be paid in the event of a claim after already funding you against the invoices. A funders policies does not include any retentions cover, offsite costs or binding contracts cover as mentioned further up this page – which could be crucial to your construction business.

Get started today

Great Service would recommend

We have been working with Abacus for around two years now and i have found their services very professional. Each email is answered promptly and efficiently. Great Service would recommend

Lindsey Shaw

Highly recommend!

David and his team are a great help to our business. They provide piece of mind and allow us to grow in a safe sustainable way! Highly recommend!

Thomas O Connor

Would highly recommend this company!

From the first time I spoke to David at Abacus I knew straight away this was the company for my credit insurance policy. Very personable and always able to get hold of when I need something. He has a wealth of industry knowledge which is invaluable. Would highly recommend this company!

Josh G

We would definitely recommend Abacus Credit Insurance Brokers Ltd.

Abacus provide an excellent service, finding a policy that works for us, and offers so much more. David has been a great help since the initial meeting, and even after we have taken out our policy. We would definitely recommend Abacus Credit Insurance Brokers Ltd.

Rena Patel

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Arrange a call with us

Secure your livelihoodin minutes. Get protection for your cash flow andfuture revenue.

We speak your language

Retentions

Applications for payment

Binding Contracts Cover

Off-Site Costs

Safeguarding business, it’s what we do.

Ready to get started?

What are the benefits to Construction Companies?

Improved cash flow

Sustainable Growth

Customer Vetting

Balance Sheet Protection

I have BDP already….?

Great Service would recommend

Highly recommend!

Would highly recommend this company!

We would definitely recommend Abacus Credit Insurance Brokers Ltd.

Latest Articles

Swan shuts in-house modular factories

Working Environments Ltd – Set for Administration

Canbury Construction placed in Administration

3 Interesting Facts about Construction Credit Insurance!

More woes in Construction

Secure your livelihood
in minutes. Get protection
for your cash flow and
future revenue.

What are the
benefits to Construction Companies?