Associated tags: Atradius, Online shopping, B2B
Locations: BELGIUM, SWITZERLAND, CZECH REPUBLIC, SPAIN, FRANCE, UNITED KINGDOM, ITALY, GERMANY, AUSTRIA, BULGARIA, SLOVAKIA, TURKEY, HUNGARY, POLAND, IRELAND, SWEDEN, GREECE, DENMARK, ROMANIA, EASTERN EUROPE, CENTRAL, NETHERLANDS, UNITED STATES OF AMERICA
A survey into business-to-business (B2B) payment behaviour has revealed a massive increase in late payments across USMCA.
Key Points:
- A survey into business-to-business (B2B) payment behaviour has revealed a massive increase in late payments across USMCA.
- This year's survey results reveal compromised cash flows and an increased reliance on bank finance, as businesses grapple with COVID-19 containment measures.
- Across the region, 43% of the total value of invoices issued were unpaid by the due date, a sharp increase from 25% last year.
- On one half are the dramatic increase in overdue payments and the undeniable indications that the region has entered recession.
As the recession is reverberating through supply chains, Atradius expects global trade to shrink 15% this year, which historically is a sharp drop.
Key Points:
- As the recession is reverberating through supply chains, Atradius expects global trade to shrink 15% this year, which historically is a sharp drop.
- The economic cost of this recession will be high, given its impact on labour markets, business failures and the fiscal position of countries.
- Governments around the world are implementing sizable fiscal packages and loose monetary policy to try and take the sharp edges off this recession.
- Advanced economies are expected to feel the brunt of the recession with a cumulative drop in GDP of 6.6%.
As the recession is reverberating through supply chains, Atradius expects global trade to shrink 15% this year, which historically is a sharp drop.
Key Points:
- As the recession is reverberating through supply chains, Atradius expects global trade to shrink 15% this year, which historically is a sharp drop.
- The economic cost of this recession will be high, given its impact on labour markets, business failures and the fiscal position of countries.
- Governments around the world are implementing sizable fiscal packages and loose monetary policy to try and take the sharp edges off this recession.
- Advanced economies are expected to feel the brunt of the recession with a cumulative drop in GDP of 6.6%.
Economy,
Money,
Finance,
Export credit agencies,
Atradius,
Working capital management,
Financial services,
Insurance industry,
Cash collection,
Credit,
Insurance,
Trade credit insurance COVID-19 containment measures around the world have impacted both national and international supply chains and trade.
Key Points:
- COVID-19 containment measures around the world have impacted both national and international supply chains and trade.
- In two markets credit sales fell, but overdue invoices still spiked an average 49%.
- Andreas Tesch, Chief Market Officer of Atradius, said: "With the global economy dipping into recession payment default risks are growing.
- Atradius is a global provider of credit insurance, surety and collection services, with a strategic presence in over 50 countries.
Economy,
Money,
Finance,
Export credit agencies,
Atradius,
Working capital management,
Financial services,
Insurance industry,
Cash collection,
Credit,
Insurance,
Trade credit insurance COVID-19 containment measures around the world have impacted both national and international supply chains and trade.
Key Points:
- COVID-19 containment measures around the world have impacted both national and international supply chains and trade.
- In two markets credit sales fell, but overdue invoices still spiked an average 49%.
- Andreas Tesch, Chief Market Officer of Atradius, said: "With the global economy dipping into recession payment default risks are growing.
- Atradius is a global provider of credit insurance, surety and collection services, with a strategic presence in over 50 countries.
Retrieved on:
Thursday, October 10, 2019
Economy,
Finance,
Money,
Export credit agencies,
Atradius,
Types of insurance,
Trade credit insurance,
Financial services,
Insurance,
Credit,
ING Group BALTIMORE, Oct. 10, 2019 /PRNewswire/ -- Atradius Trade Credit Insurance, Inc. has named Gordon Cessford, Regional Director of North America for Atradius.
Key Points:
- BALTIMORE, Oct. 10, 2019 /PRNewswire/ -- Atradius Trade Credit Insurance, Inc. has named Gordon Cessford, Regional Director of North America for Atradius.
- David will maintain his role as President of Atradius Trade Credit Insurance until the end of 2019, when he will retire after a 13-year career with Atradius.
- He spent over two decades in the credit insurance industry, where he served in a variety of positions, including Chief Commercial Officer and Regional Commercial Director for major credit insurance carriers.
- Atradius is a global provider of credit insurance, bond and surety, collections and information services, with a strategic presence in over 50 countries.
To think that 51% of respondents have had a customer suffer bankruptcy or simply close their doors is eye opening.
Key Points:
- To think that 51% of respondents have had a customer suffer bankruptcy or simply close their doors is eye opening.
- Any business that provides customer credit, domestically or internationally, will benefit from the data reported in the Payment Practices Barometer."
- The average proportion of uncollectable B2B receivables in the Americas declined, though slightly, from 2.1% in 2017 to 1.8% this year.
- Atradius is a global provider of credit insurance, surety and collection services, with a strategic presence in over 50 countries.
