Welcome to the May 2022 issue of Credit Management News Digest. This issue is sponsored by Credendo.

UK and Ireland: Late Payment, Business Distress & Insolvencies
29 April. Red Flag Alert research highlights the strain two years of extraordinary financial pressures have had on thousands of UK companies. Helped through the pandemic and its aftershocks by state support, Begbies Traynor's latest report reveals a 19% increase (to 1,891) in the first quarter of 2022 compared to a year ago in the number of companies in critical financial distress with these measures cut off. This included a 51% jump in the construction sector and a 42% rise amongst bars and restaurants. In addition, the most recent County Court Judgements (CCJs) data revealed 11,673 rulings in March — up 179% on the monthly average for the previous two years and the highest level in a single month for five years. Julie Palmer, Partner at Begbies Traynor, warned: "The critical distress and CCJ data are likely predictors of a wave of insolvencies coming — it’s just a case of when the dam holding it back finally bursts." To read Begbies Traynor's news release go to https://www.begbies-traynorgroup.com/news/business-health-statistics/critical-corporate-financial-distress-levels-jump-as-cocktail-of-threats-start-to-take-their-toll.
29 April. Companies in the UK and Ireland are among the top four worst in Europe for payment delays. Sidetrade has launched a new product, Sidetrade Data Lake, which indicates the best and worst markets and industries for late payments over the last three years. Overall, the data reveals that, on average, companies around the world pay supplier invoices 21 days late. Scandinavian businesses tend to pay the quickest overall, in particular Sweden, with a delay of just seven days — well below the global average of a mean delay of 16 days for companies to collect payment. Companies in the UK and Ireland are among the top four worst in Europe for payment delays, with means of 21 and 26, respectively. This is despite both countries having higher payment terms (34 days in the UK, 31 days in Ireland) than the European average of 29 days. In addition, Sidetrade's Unpaid Invoice Tracker has discovered that the US, France, and Italy still haven’t fully reverted back to their pre-pandemic unpaid invoice rates. To read Sidetrade's news release go to https://www.sidetrade.com/news/sidetrade-data-lake-launch/.
28 April. UK corporate insolvencies in Q1 2022 were 112% higher than Q1 2021. The latest insolvency data from the Insolvency Service has found that there were 4,896 corporate insolvencies in the UK in Q1 2022 — an increase of 6.1% from Q4 2021's figure, but a rise of 112% compared to the same period in 2021. Q1 2022’s figures were also 17.1% higher than Q1 2019. The number of creditors’ voluntary liquidations increased to the highest quarterly level since the start of the series in 1960. One in 257 active companies (at a rate of 38.9 per 10,000 active companies) entered liquidation between 1 April 2021 and 31 March 2022 — an increase from the 25.5 per 10,000 active companies that entered liquidation in the 12 months ending 31 March 2021. Christina Fitzgerald, President of R3, commented: "These statistics provide further proof that while the Government’s COVID support measures prevented an initial sharp rise in corporate insolvencies, the economic damage caused by the pandemic couldn’t be mitigated away forever." To read R3's news release go to https://www.r3.org.uk/press-policy-and-research/news/more/31220/page/1//.
22 April. The number of registered UK company insolvencies in March 2022 was higher than pre-pandemic levels, driven by a higher number of CVLs. Latest data from the Insolvency Service has found that there were 2114 registered company insolvencies in March 2022 — more than double the number registered in the same month in the previous year and 34% higher than the number registered three years previously (1,582 in March 2019). In March 2022, there were 1,844 Creditors’ Voluntary Liquidations (CVLs), more than double the number in March 2021 and 62% higher than March 2019. Numbers for other types of company insolvencies, such as compulsory liquidations, remained lower than before the pandemic, although there were almost four times as many compulsory liquidations in March 2022 compared to March 2021. The number of administrations was also 74% higher than a year ago. To read the Insolvency Service's news release go to https://www.gov.uk/government/statistics/monthly-insolvency-statistics-march-2022/commentary-monthly-insolvency-statistics-march-2022.
11 May. UK insolvencies look set to average 2500 businesses a month. InfolinkGazette has reported that March 2022's UK insolvency figures reinforce concerns over a prolonged surge. Overall, there were 2,114 company insolvencies recorded in the month, more than double the number registered in March 2021 and 34% up on the pre-pandemic number of 1,582 in March 2019. InfolinkGazette warns that when compulsory liquidations and Administrations reach and eventually surpass pre-pandemic levels, this may result in average monthly insolvencies of approximately 2,500 UK businesses. Greg Connell, Managing Director of InfolinkGazette, commented: "our experience of the current insolvencies is that the mean HMRC Loss per Debtor has almost doubled from £80,000 to £156,000, which along with crown preference means dividends to unsecured creditors are falling." Greg added: "smaller unsecured creditor pay-outs will have a knock-on effect, further driving up insolvencies." To read InfolinkGazette's news release go to https://www.infolinkgazette.co.uk/?pid=6.
UK Economy & Exports
5 May. The Bank of England expects inflation to rise to around 10% this year and the UK economy to slow sharply. The Bank of England's (BoE) latest Monetary Policy Report has warned that since its last report in February, global inflationary pressures have intensified sharply following Russia’s invasion of Ukraine. This has led to a material deterioration in the outlook for world and UK growth, with economic forecasts that predict that UK GDP will contract by almost 1% between October and December and fall by 0.25% in 2023 (down from its previous forecast of 1.25% growth and raising the possibility of a recession) and rise by just 0.25% in 2024.  The report also warns that inflation is expected to peak at slightly over 10% in 2022 Q4, which would be the highest rate since 1982. To read the BoE's report go to https://www.bankofengland.co.uk/monetary-policy-report/2022/may-2022.
22 April. UK growth looks set to slow sharply in 2023. The IMF's latest Regional Economic Outlook has predicted that the UK is expected to show the joint-fastest growth (+3.7%) in the G7 this year, despite having its growth estimate cut from 4.7% to 3.7%. However, according to the IMF, the UK's outlook will worsen rapidly in 2023, with growth of only 1.2% — just over half the rate previously expected. All other G7 countries look set to perform better than the UK in 2023, with Germany, the US and Japan set to experience the highest growth. In addition, the UK is expected to experience the highest inflation (5.3%) in 2023 — significantly higher than any other G7 country. To read the IMF's Outlook and watch a video discussing the IMF's predictions go to https://www.imf.org/en/Publications/REO/EU/Issues/2022/04/20/regional-economic-outlook-for-europe-april-2022.
19 April. UK export growth has been stagnant for the past year. The BCC’s latest quarterly Trade Confidence Outlook has reported that the proportion of exporters reporting increased overseas sales to be unchanged from Q4 at 29%. In comparison, those reporting a decrease rose by 1% point to 25%. Responding to the findings, Head of Trade Policy at the British Chambers of Commerce, William Bain said: "This data confirms our concerns — that for the last year there was a broadly flat picture for UK exports. This is in contrast with the performance of our near neighbours, with Germany’s exports both within and outside the Single Market steaming ahead by double-digit margins and with trade losses from the pandemic already effectively recovered." To read the BCC's news release go to https://www.britishchambers.org.uk/news/2022/04/export-growth-now-stagnant-for-1-year-as-bcc-sounds-warning-on-trade.
21 April. Four in ten UK traders are now exporting less to the EU. The Institute of Directors (IoD) has published survey data showing that 42% of businesses in the UK that trade internationally are now exporting less to the EU compared to the last five years. This figure increases to 45% for UK SMEs. The IoD notes that one of the primary challenges businesses have been facing is the administrative and cost-related burden from the implementation of new customs arrangements. In January 2021, 40% of traders found these customs changes challenging. By March 2022, this figure had risen to 44%. To read the IoD's news release go to https://www.iod.com/news/eu-and-trade/iod-4-in-10-traders-are-now-exporting-less-to-the-eu/.
UK Trade Sectors & Business Optimism
19 April. Inflation, skills shortages, and a cost of living crisis are threatening UK business growth. According to new research by BDO, increasing energy bills or the overall rising costs of living are the biggest challenges facing 47% of businesses in the next six months. BDO's survey found that a third of respondents expect to increase the price of their goods and services in response. Retail and wholesale businesses have been particularly hard hit, with 39% planning an increase in prices. Meanwhile, rising costs mean 30% of businesses are planning to reduce the number of goods and services they offer, and 29% are switching to cheaper suppliers to reduce costs. Warnings from the Office for Budget Responsibility that inflation could reach close to 9% in 2022 are also giving serious cause for concern, with almost 59% of mid-sized businesses having only planned for an inflation rate of 3-5% this year. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2022/inflation-skills-shortages-and-cost-of-living-crisis-threatening-business-growth.
19 April. A record proportion of UK CFOs expect significant operating cost rises. According to Deloitte’s UK CFO Survey Q1 2022, faced with a more uncertain economic climate, a record number of finance leaders (98%) anticipate that operating will rise in the year ahead. Almost half of CFOs (46%) expect these rises to be significant. Deloitte also notes that in light of cost increases, there has also been a sharp deterioration in the outlook for corporates' margins. Most CFOs (71%) believe operating margins will fall over the next 12 months, compared to 44% in the previous quarter. Ian Stewart, Chief Economist at Deloitte, commented: "Rising geopolitical risk in the wake of the invasion of Ukraine and alongside high inflation means that the external challenges faced by business are greater today than at any time in the last eight years. These risks now far eclipse Brexit and the pandemic." To read Deloitte's news release go to https://www2.deloitte.com/uk/en/pages/press-releases/articles/record-proportion-of-uk-cfos-expect-significant-operating-cost-rises.html.
29 April. A mixed picture across UK industries. According to the latest Small Business Index from the Federation of Small Business (FSB), close to half of small firms in the UK do not expect to grow over the coming year. The headline SBI UK confidence reading stands at +15.3 for Q1 2022, meaning more small business owners expect an improvement in their commercial performance over the coming quarter than expect the opposite. The figure is down 12% compared to the same period last year, but is up significantly compared to Q4 2021 (-8.5). Firms in the accommodation and food sector (+16.5) are among the most bullish this quarter, as are those engaged in information and communication activities (+32.1). By contrast, manufacturing (-9.1) and wholesale and retail (-8.2) firms report negative readings. To read the FSB's news release go to https://www.fsb.org.uk/resources-page/let-s-make-this-a-small-business-summer-firms-urge-as-sectoral-confidence-gulf-grows-and-insolvencies-spiral.html.
3 May. UK SMEs are more optimistic as the COVID 19 recovery builds. New research from Premium Credit has indicated that UK SMEs are becoming increasingly optimistic as recovery from the impact of the COVID-19 pandemic builds. Around 37% expect revenue to increase over the next 12 months, with 15% predicting increases of 10% or more. Just 26% believe revenues will fall over the next 12 months, while 18% expect them to stay the same, and 21% do not know what will happen over the next 12 months. Among firms who predict revenues will fall in the year, 33% say they are still suffering from the impact of the pandemic, and 32% say they have lost clients — including ones who have gone out of business. To read Premium Credit's news release go to https://www.premiumcredit.com/news-and-events/smes-more-optimistic-as-covid-19-recovery-builds.
29 April. Fewer empty shops in the UK, but uncertainty lies ahead. The latest data from the British Retail Consortium (BRC) has reported that in the first quarter of 2022, the overall GB vacancy rate decreased to 14.1% — 0.3% down from Q4 2021. This was only the second quarter of falling vacancy rates since Q1 2018. All locations saw a decrease in vacancies in Q1. Helen Dickinson OBE, Chief Executive of the British Retail Consortium, commented that despite the quarterly improvement in shop vacancy rates, the overall proportion of empty storefronts remains well above its pre-pandemic levels — especially in the north of England. "Much has changed with the cost of living rising and the conflict in Ukraine damaging consumer confidence. It remains to be seen how the increasing costs and the war in Ukraine will impact the businesses and the vacancy rate in the future." To read BRC's news release go to https://brc.org.uk/news/corporate-affairs/fewer-empty-shops-but-uncertainty-ahead/.
6 May. A month of two halves as UK retail sales growth starts to slow in April. New figures by BDO LLP reveal that the UK retail sector’s strong start to 2022 has begun to falter, with like-for-like sales growth significantly slowing in the second half of April. According to BDO’s High Street Sales Tracker, total like-for-like sales, combined in-store and online, increased by 44.9% in April compared to the equivalent month in 2021, and total non-store like-for-like sales rose by 6.4% — the first positive result this year. However, while the first week of the month saw growth of 81.96% compared to the same week the previous year, followed by an increase of 86.70% in the second week, the final two weeks of the month saw much lower rates of growth. In the third week of April, for example, like-for-like sales grew 18.41% compared to the same week in 2021 last year, when non-essential retail re-opened for trading following almost four months of national lockdown. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2022/a-month-of-two-halves-as-retail-sales-growth-starts-to-slow-in-april.
22 April. UK retail sales continue to disappoint in April. New data from the Office for National Statistics (ONS) has found that, although retail sales volumes were 2.2% above their pre-COVID-19 levels (February 2020), March saw an overall decrease of 1.4%. The largest contribution to the fall came from non-store retailing, in which sales volumes fell by 7.9% over the month. However, despite these drops, sales volumes were still 20.3% above their pre-coronavirus levels (February 2020). The ONS' data also indicated that the proportion of online retail sales fell to 26.0% in March 2022, its lowest proportion since February 2020 (22.7%) and the continuation of a broad downward trend since its peak in February 2021 (37.1%). To read the ONS' news release go to https://www.ons.gov.uk/businessindustryandtrade/retailindustry/bulletins/retailsales/march2022.
27 April. UK tech incorporations increased by 62% in 2021. According to a new analysis by RSM UK, the number of new tech companies incorporated in the UK rose by 62% in 2021. A total of 38,240 tech businesses were incorporated in 2021 according to an analysis of data held by Companies House, up from 23,579 in 2020. London accounted for the highest number of incorporations in 2021 at 18,549, followed by the South East at 4,115 and the North West recording 2,371 new tech firms. All regions in the UK saw an increase in tech incorporations, with London recording the highest percentage increase of 94%. RSM UK also noted that the UK tech sector became only the third economy, alongside the US and China, to reach US$1 trillion in value after a surge in growth throughout the pandemic. The UK’s digital industry is now worth more than double Germany’s equivalent, its closest European rival. To read RSMUK's news release go to https://www.rsmuk.com/news/uk-tech-incorporations-jump-62-per-cent-in-2021.
Global Economy & Insolvencies
22 April. Russia's invasion of Ukraine: Severe economic consequences for Europe. The IMF's latest Regional Economic Outlook has warned that the war will have severe economic consequences for Europe. The Outlook predicts that GDP growth is now forecast to decline in 2022 to 3% and 3.2% in advanced European economies and emerging European economies (excluding Belarus, Russia, Turkey, and Ukraine), respectively — down by 1% and 1.5% compared to January 2022's World Economic Outlook Update. In addition, inflation in 2022 is now projected to reach 5.5% and 9.1% in advanced and emerging European economies (excluding Belarus, Russia, Turkey, and Ukraine), respectively — up by 2.2% and 3.4% compared to January's forecasts. The IMF also forecasts that Russia’s GDP will contract by 8.5% in 2022, with the country facing a deep downturn that will likely stretch over several years. Ukraine's GDP is predicted to contract by about 35% in 2022. To read the IMF's Outlook go to https://www.imf.org/en/Publications/REO/EU/Issues/2022/04/20/regional-economic-outlook-for-europe-april-2022.
12 April. Global insolvencies are set to rise. In its latest Insolvency Forecast report, Atradius warns that as government support after the pandemic is phased out, insolvencies in most markets are projected to increase in 2022 and 2023. Atradius notes that in some markets, including Spain, Italy and the Czech Republic, a partial return to normality in 2021 resulted in an earlier rise in insolvency, with insolvencies expected to remain relatively stable in 2022 in many of these markets. However, for the majority of markets, Atradius expects the adjustment to take place in 2022 and 2023, with insolvencies rising in line with the phased end of government support. Two outliers are New Zealand and Hong Kong, where insolvencies are expected to decrease in 2022. To read Atradius' news release go to https://atradius.co.uk/reports/economic-research-interim-economic-outlook-april-2022.html.
12 April. The Russia-Ukraine conflict puts the fragile global trade recovery at risk. The World Trade Organisation (WTO) has warned that prospects for the global economy have darkened since the outbreak of war in Ukraine, prompting WTO economists to reassess their projections for world trade over the next two years. World merchandise trade volume is now expected to grow 3.0% in 2022 (down from 4.7% previously) and by 3.4% in 2023, but these figures may be subject to revision due to uncertainty about the course of the conflict in Ukraine. With little hard data on the economic impact of the conflict, WTO economists have had to rely on simulations to generate reasonable assumptions about GDP growth in 2022 and 2023. Under these assumptions, world GDP is expected to grow by 2.8% in 2022, down 1.3% from the previous forecast of 4.1%. Although growth should pick up to 3.2% in 2023, output in the Commonwealth of Independent States (CIS) region — which excludes Ukraine — is expected to see a sharp 7.9% drop. To read the WTO's news release go to https://www.wto.org/english/news_e/pres22_e/pr902_e.htm.
3 May. No region will be spared from the economic fallout of Russia's invasion of Ukraine. Coface's latest Economic Publication has revised its estimate of the cost of the Russian invasion of Ukraine to the world economy upwards — to approximately 1% in 2022 — and forecast that the consequences of the conflict will be felt mainly from the second half of this year and will further materialise in 2023 and beyond. Coface also predicts that no region will be spared from the economic fallout of the war and notes that "after the successive shocks of the 2020s, our perception remains the same: the world has shifted, and nothing will ever be the same." Overall, countries of Western Europe are the most exposed because of their heavy dependence on Russian fossil fuels — with Germany and Italy likely to be the most strongly impacted (a negative impact of 1.6% on GDP growth). Although the impact will likely be weaker in the rest of Europe, Coface expects that it will still be significant. To read Coface's news release go to https://www.coface.com/News-Publications/News/War-in-Ukraine-Many-big-losers-few-real-winners.
4 May. Business failure rates were maintained at artificially low levels during the pandemic. A new report by Dun & Bradstreet (D&B) has reported that nearly half of all 43 economies monitored by D&B and its Worldwide Network saw a decrease in business failures during 2021. In some countries, business failures reached their lowest level in a decade. Out of 43 monitored economies, only Poland & Vietnam reported the highest ever bankruptcies in 2021, with Hong Kong, Taiwan Region and Vietnam accounting for 63% of global business failures. D&B notes that one of the biggest factors that helped many firms stay afloat was the massive support packages provided by governments across the world. According to the IMF,  cumulative fiscal measures in response to the COVID-19 pandemic account for 18% of the GDP, and D&B notes that much of this stems from advanced economies — which, on average, have provided fiscal support to the tune of 28.4% of their GDP. By comparison, stimulus packages provided by these economies in response to the Global Financial Crisis of 2008 were worth just 2.6% of their GDP. To download a copy of the report go to https://www.dnb.co.uk/perspectives/finance-credit-risk/global-bankruptcy-report-2021.html.
10 May. Leading indicators point to growth losing momentum in Europe. The OECD has advised that its latest Composite leading indicators (CLIs), designed to anticipate turning points in economic activity, point to growth losing momentum in Europe, but stable growth in other major OECD economies. In Europe, the CLIs continue to indicate growth losing momentum in the euro area as a whole, including in France, Germany and Italy, as well as in the UK. Outside Europe, the CLIs continue to point to stable growth in Canada, Japan and the US. Stable growth also continues to be anticipated in most major emerging-market economies, in particular China and India. To read the OECD's news release go to https://www.oecd.org/newsroom/composite-leading-indicators-cli-oecd-may-2022.htm.
Events & Professional Development
GTR Turkey, 12 May. Istanbul, Turkey.
GTR Turkey returns for the first time since 2020 to the Hotel Fairmont Quasarin Istanbul on May 12, 2022.
As the leading trade and export financing event of its kind in the country, and with established support from key industry institutions, the event will provide Turkish corporates, financiers and investors with a key platform at which to make valuable business contacts and learn from the leading figures in international trade and investment.
Hear first-hand from the experts on Turkish trade opportunities in Europe, Africa, the Gulf and the US; discuss latest export trends, manufacturing and supply chain resilience, and developments in digital trade solutions and new trade corridors.
With over 300 representatives from international and regional companies expected in attendance, the event will feature innovative content designed to foster maximum engagement between speakers and delegates, bringing all parties involved in Turkish trade together for a one-day focused gathering. For more information go to https://www.gtreview.com/events/europe/gtr-turkey-2022.
Credit Insurance News readers can receive 15% off any pass to GTR India 2022 with code: CIN15. 
GTR India, 24 May 2022. Mumbai.
In-person since 2020, GTR India 2022 is finally returning to Mumbai for an exclusive one-day gathering on May 24 at Taj Lands End!
The day’s sessions will reflect on the latest developments across the Indian market, from trade and export policy and new supply chain opportunities, to banking and structural reforms, fintech innovation, sustainability and the role of manufacturing as a key export driver.
  • Trends in global trade and advantages for Indian corporates and exporters
  • The (M)SME credit gap and how are trade finance barriers lowering? 
  • Fintech and tradetech in India – balancing opportunities and risks
  • High-value manufacturing and India’s position in global supply chains
  • Exporter support and the scope of supply chain finance solutions
  • Trade corridors – what is the direction of travel for Indian trade?
Connect with key players and join over 300 market leaders together to discuss the country’s trade prospects and priorities. 
For more information about this event go to https://bit.ly/3tizPcM.
Credit Insurance News readers can receive 15% off any pass to GTR India 2022 with code: CIN15. 
Annual Receivables Finance International Convention, 26-27 May (new dates). London/Hybrid 
Join BCR Publishing for their 22nd Annual Receivables Finance International Convention. 
RFIx’22 will be held in London at the offices of Clifford Chance and will bring together in person, senior receivables finance executives from around the world, with live streaming also available.
BCR will be also holding its 4th Annual Receivables Finance International Awards on 26 May 2022, on the evening of the first day of RFIx’22.
Book your place for RFIx’22 and help define the future of working capital finance: https://bcrpub.com/events/rfix-receivables-finance-international-convention-2022
To apply for free to receive RFIx22 Award, download your info pack today: https://bcrpub.com/awards/rfix22-awards-and-gala-dinner.
TXF Global 2022: Export, Agency & Project Finance
HYBRID EVENT: LISBON & ONLINE, 7-8 June 2022. Lisbon, Portugal.
TXF Global Export is back for 2022 and this time, *drumroll*... we're taking the global export roadshow to Lisbon!
Join us on the 7th & 8th June 2022 for another unmissable hybrid event. Deal makers from across the globe are already lining up to save their spot. Topics up for debate include:
  • Financing the goals of COP 26
  • Mega borrowers of the future
  • Mega borrowers of the future
  • Guardians of Export Credit - The Government perspective
  • The Green ECA CEO panel
Two types of participation are available for TXF hybrid events:
Two types of participation are available for TXF hybrid events:
1. Physical Event Ticket
  • Get your feet on the ground to come together with key clients, colleagues and industry experts. Your ticket will also include:
  • Additional networking features such as the poolside cocktail reception Access to the virtual event platform – reach out to virtual-only attendees and watch all sessions on-demand if you miss them 
  • Networking concierge service – allow us to do the leg work and introduce you to new potential clients 
2. Virtual Ticket/ On-Demand (Available TXF events 365 Members Only)
From the comfort of your desk watch all sessions live or on-demand as well as use our ‘Search the Guest List’ feature to reach out to other virtual attendees and those joining the physical event in-person. 
To find out more about joining virtually as part of a TXF Membership, please email membership@txfmedia.com. email membership@txfmedia.com.
Professional Development
STECIS, the Trade Credit Insurance & Surety Academy endorsed by ICISA, offers a range of webinars and classroom training courses.
The webinars on Trade Credit Insurance and Surety are organised multiple times per year: the next webinar on Trade Credit Insurance is on Innovation and Digitalisation in Trade Credit Insurance and Surety: this webinar will take place on the 15th of June 2022.
The classroom training courses are scheduled to take place in September 2022 on the following dates:
  • 27 & 28 September 2022: Trade Credit Insurance Foundation Course 
  • 29 & 30 September 2022: Trade Credit Insurance Advanced Course 
  • 27 & 28 September 2022: Surety Foundation Course 
  • 29 & 30 September 2022: Surety Advanced Course
All classroom courses will take place in the Steigenberger Airport hotel close to Schiphol Airport/Amsterdam the Netherlands. The courses include the lunches and a dinner at the end of the first training day.
The courses are hosted by seasoned expert from the industry and there is enough opportunity for posing questions, discussions and networking.
For bookings before the 1st of June there is an "Early Bird" reduction applicable of 10%.
Also there is the possibility to arrange an inhouse training: then there will be created a tailor made outline for your staff on basis the training demand of your of your company. The training will be effected at your own offices or at a venue of choice.
Details information about the webinar and classroom training courses are available on the Stecis’ website: www.stecis.org also further information can be obtained by sending an e-mail to info@stecis.org.
About this month's sponsor: Credendo
Part of Credendo Group, Credendo — Guarantees & Speciality Risks is the single gateway to speciality trade insurance and surety solutions.
Credendo — Guarantees & Speciality Risks helps corporates to secure projects and existing business with tailor-made and non-cancellable coverage against a wide range of commercial and political risks and creates new business opportunities through a wide range of surety bonds and guarantees for domestic and cross-border contracts.
Set up through the merger of Credendo — Single Risk with Credendo — Excess & Surety in June 2021, Credendo — Guarantees & Speciality Risks combines three strategic business lines: excess of loss credit insurance and top-up, single risk insurance and surety bonds.
To make it easier to get in touch with us, we have a network of branches across Europe: our headquarters in Belgium and regional offices in Austria, Germany, France, Italy, Ireland, the Netherlands, Poland, Spain and Switzerland.
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