When you request coverage on a customer, a critical step is to verify that your customer's name in any documentation (purchase orders and invoices) is the same as on your limit approval.
Why is it important?
Sometimes the company name on the sign outside your customer's office or on their website is not the legal name of the entity that owes you money. Ensuring that you have credit insurance with the legal entity that owes you money is critical when filing a claim.
The information you need to check is:
- Company name and CVR number
- Billing address
What should I do if my customer changes their information?
Email us at with the policy number and the customer's Euler ID and the new correct information.
Keep track of cover
Without a valid credit limit on an existing or new customer, if they fail to pay you, the debt will not be insured.
Here are the things you want to keep track of:
- Having a valid limit in place
You should track reductions and cancellations, make sure you’ve asked for cover on a new customer or that you have the appropriate justification to use your limit.
- The level of cover versus your level of trade
As the relationship with your customer evolves, the amount of sales may vary. As it progresses, you need to monitor cover and especially check if your credit limit is high enough to cover your outstandings (the amount of sales that you have made but that your customer hasn’t paid yet). You may decide to trade at a level higher than your approved limit, but your cover will be limited to that level.