Welcome to July's issue of Credit Management News Digest, our new sister newsletter to  Credit Insurance News Digest. This issue is sponsored by STA International

Late Payment & Cash Flow
Almost a third of UK SMEs have experienced late payments costing their business at least £10,000 in the last 12 months. New research from Hitachi Capital UK has determined the financial burden on the UK’s 5.6 million SMEs as a result of late paying customers. Nearly three-quarters of SMEs (74%) have had a customer fail to pay during their agreed terms at least once during the last 12 months, and 34% of SMEs report customers using their position to delay or reduce payment. Of those surveyed, over two-thirds of SMEs (68%) would support legislation making it illegal to miss a payment deadline, with over half of respondents (57%) spending nearly a day a week chasing outstanding invoices. Professional services was identified as one of the worst offenders. To read Hitachi Capital UK's news release go to https://www.hitachicapital.co.uk/news-media/late-payments-costing-uk-smes-at-least-515-billion-a-year/.
Late payments are a greater challenge than a year ago for one in five UK businesses. According to the latest ICAEW Business Confidence Monitor (BCM), late payments from customers are a more significant challenge than a year ago for 24% of UK SMEs and 20% of all UK businesses. Six out of nine sectors (property, business services, manufacturing & engineering, construction, retail & wholesale, and banking, finance & insurance) reported that they are experiencing this as a growing issue. The BCM also found that UK business confidence is still negative and trending downwards having been impacted by events such as British Steel’s insolvency, the announcement of the closure of Ford’s Bridgend plant, evidence of a global slowdown and international political anxieties - particularly with regard to Iran. To read ICAEW's news release go to https://www.icaew.com/about-icaew/news/press-release-archive/2019-press-releases/late-payments-causing-more-damage-says-new-business-confidence-monitor.
Nearly half of UK SMEs are struggling with cash flow. According to the latest SME Confidence Tracker from Bibby Financial Services, 44% of UK SMEs - equating to 2.5 million businesses - are struggling with cash flow as they attempt to prepare for Brexit. The report also found that there has been a 6% rise (to 29%) in the number of SMEs actively using funding in the past quarter, with the additional investment being used to offset risks associated with a no-deal Brexit. Sharon Wiltshire, UK Commercial Director at Bibby Financial Services, said: “Ordinarily a rise in the number of companies investing in themselves would be a boon for the economy. But with increasing competition, rising materials costs and the broader economy stalling, businesses appear to be sourcing finance to cope with these challenging conditions rather than investing for growth." To read Bibby Financial Services' news release go to https://www.bibbyfinancialservices.com/about-us/news-and-insights/news/2019/smes-struggle-with-cash-flow.
18 UK businesses are penalised for failing to pay suppliers on time. The Chartered Institute of Credit Management (CICM) has reported that eighteen UK companies – including BT Plc, British American Tobacco, Screwfix, Prudential, Galliford Try PLC and Centrica – have been suspended from the Prompt Payment Code for failing to honour the code's commitment to pay 95% of all supplier invoices within 60 days. Businesses suspended from the Code are invited to produce an action plan that leads to a substantial improvement in payment performance and are reinstated to the Code as soon as they demonstrate compliance. Small Business Commissioner Paul Uppal commented: “Large companies who are not currently meeting the Code Standards need to note their unethical payment practices will not be tolerated." To read CICM's news release go to https://www.cicm.com/18-businesses-penalised-failing-pay-suppliers-time/.
UK Government initiates a crackdown on contracts to help avoid another Carillion. The Federation of Small Businesses (FSB) has reported that the UK Government has introduced new prompt payment rules to exclude big businesses with poor payment practices from taxpayer-funded contracts. FSB's National Chairman, Mike Cherry, welcomed the news: “We have worked very hard with the Cabinet Office to get to this moment. This will prevent another Carillion, where payment terms were lengthened as the company fell into difficulty, hoarded taxpayers’ money and tried to improve its cash flow off the back of its small suppliers." To read the FSB's news release go to https://www.fsb.org.uk/media-centre/press-releases/government-contracts-crackdown-will-help-kick-out-late-payers.
UK Government proposals to tackle late payment called “aspirational”. Credit Strategy has reported that according to the Chartered Institute of Credit Management (CICM), UK Government plans to ensure businesses pay suppliers on time are a positive step but require greater consideration of enforcement measures. Under the proposals, large businesses could be fined for failing to pay smaller suppliers on time, while company boards will be held accountable for supply chain payment practices. A new fund to encourage businesses to use technology to simplify invoicing, payment and credit management will also be established. To read Credit Strategy's article go to https://www.creditstrategy.co.uk/news/news-top-stories/cicm-government-proposals-to-tackle-late-payment-aspirational-6194.
Business Distress & Insolvency
14% of all UK businesses are in significant distress. New research from Begbies Traynor has indicated that there are now 484,000 UK businesses in significant financial distress, with the Property, Leisure and Tourism sectors particularly badly affected. The Red Flag Alert data for Q2 2019 found that 14% of all UK businesses were experiencing ‘significant’ financial distress at the end of June 2019, with the average debt of insolvent companies having more than doubled to £66,226 a year from £29,872 in 2016. There was also a marked 5% increase in the number of businesses in 'critical' financial distress during the same period – often a precursor to formal insolvency. To read Begbies Traynor's news release with a link to the full report go to https://www.begbies-traynorgroup.com/news/business-health-statistics/484000-businesses-in-significant-distress-as-consumer-facing-sectors-falter.
An 11.9% increase in UK insolvencies in Q2 2019 compared to the same quarter in 2018. Responding to the Insolvency Services's announcement that the number of company insolvencies in England and Wales in Q2 2019 increased by 2.6% compared to Q1 and 11.9% compared to Q2 2018, Federation of Small Businesses (FSB) Policy & Advocacy Chairman, Martin McTague, warned that a sudden no-deal exit on 31 October will cause insolvencies to spiral even further. By sector, he noted: “The construction sector, notoriously dogged by late payments, has seen the biggest share of insolvencies, with more than 3,000 firms going under in the year ending in Q2. Other labour-intensive industries – administration, hospitality and retail – are also suffering as they struggle with higher wages, pensions auto-enrolment costs and skills shortages." To read the Insolvency Services' news release go to https://www.gov.uk/government/statistics/company-insolvency-statistics-april-to-june-2019.
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UK company administrations fall during Q2 2019. New analysis from KPMG indicates that despite some high profile insolvencies hitting the headlines, the number of companies entering into administration in England and Wales fell during the second quarter of the year. A study by KPMG of notices in the London Gazette shows that a total of 310 companies went into administration between April and June 2019, compared with 361 in the previous quarter - a fall of 14%. The research also notes that activity across the quarter was broadly on a par with the 303 companies that went into administration during the same period last year. However, there was a slightly more pronounced increase in the number of operators across the wider food and drink sector entering into administration over the quarter - up from 13 in Q1 2019 to 18 in Q2. To read KPMG's news release go to https://home.kpmg/uk/en/home/media/press-releases/2019/07/insolvencies-fall-over-q2-2019.html.
UK Economy & Brexit
UK economic posts zero growth in the three months to July 2019. Following the bleak analysis last month by the Office for National Statistics (ONS) which indicated that the UK economy had contracted for the first time in seven years in the period April-June 2019, new data indicates a better than expected economic growth of 0.3% in July. As a result, overall GDP has remained level at 0.0% in the three months to July 2019. The ONS' Head of GDP, Rob Kent-Smith, commented: "GDP growth was flat in the latest three months, with falls in construction and manufacturing. While the largest part of the economy, services sector, returned to growth in the month of July, the underlying picture shows services growth weakening through 2019." To read the ONS' latest research go to https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/july2019.
A one-in-four chance that the UK economy is already in a technical recession. New research from the National Institute of Economic and Social Research (NIESR) has found that UK economic growth has stalled and there is around a one-in-four chance that the economy is already in a technical recession. Furthermore, the possibility of a severe downturn is raised in the event of a disorderly no-deal Brexit in October. NIESR concluded: "We see the risks to growth to be heavily weighted to the downside in view of the high probability of a no-deal Brexit and the risk that this could be disorderly. Given the slow underlying growth rate of the UK economy, the fragility of the global economy, and the significant risk of an abrupt downward shift at the end of this year, we judge that there is around a 30% chance of output growth of less than 0% in 2020." To read NIESR's news release go to https://www.niesr.ac.uk/media/niesr-press-release-prospects-uk-economy-august-2019-review-13855.
A no-deal Brexit will "almost certainly" cause a UK recession. Dun & Bradstreet's (D&B) latest UK industry report has predicted that GDP will grow by 1.3% this year and 1.4% in 2020, assuming a no-deal Brexit is avoided. However, should this not be the case, the report warns that as global demand is also switching into a lower gear the UK would almost certainly enter a recession. D&B also cautions that although the UK's country risk rating is currently maintained at DB2d, it would be downgraded in the event of a no-deal Brexit. According to D&B, 4% of UK businesses are deemed to be at high risk of liquidation. To download a copy of the report go to https://www.dnb.co.uk/perspectives/finance-credit-risk/uk-quarterly-industry-report.html.
UK growth to remain subdued in 2019-20 as Brexit uncertainty persists. PwC’s latest UK Economic Outlook report projects that UK economic growth is likely to remain subdued, growing by around 1.4% on average in 2019 and a similar rate in 2020. The report finds that economic growth has slowed since early 2018 due primarily to the dampening of business investment as a result of Brexit-related uncertainty and heightened global trade tensions. Most industry sectors are projected to see relatively modest growth in 2019-20, though short-term trends remain volatile and highly dependent on how events develop around Brexit. Manufacturing and other UK export-intensive sectors particularly face downside risks from any further deceleration in global growth. To read PwC's news release go to https://www.pwc.co.uk/press-room/press-releases/ukeo-economic-projections.html.
The Bank of England cuts its growth forecast for the UK economy. The Bank of England (BoE) has advised that it now expects the UK economy to grow by 1.3% in 2019 and 1.3% in 2020, a reduction to its previous estimates of 1.5% and 1.6% respectively. However, these predictions are based on the UK leaving with EU with a deal; in the case of a no-deal Brexit, the BoE predicts slower growth. The governor of the BoE, Mark Carney, said: “In the event of a no-deal, no transition Brexit, sterling would likely fall, the risk premiums on UK assets would rise and volatility would spike higher.” For more information (including BoE's press conference) go to https://www.bankofengland.co.uk/inflation-report/2019/august-2019.
UK Trade Sectors & Exports
British town centre retail vacancy rate is now at its highest level for four years. New research from the British Retail Consortium (BRC) has found that the national town centre vacancy rate was 10.3% in July, a slight increase on the previous quarter's rate of 10.2% - and the highest level since January 2015. Furthermore, overall retail footfall dropped 1.9% in July - the worst performance for over seven years. Helen Dickinson, Chief Executive of the BRC, said: “Currently, retail accounts for 5% of the economy, yet pays 10% of all business costs and 25% of all business taxes. The rising vacancy figures show this is simply not sustainable." To read BRC's news release go to https://brc.org.uk/news/2019/2019-aug-12-footfall-monitor-july.
UK retail sentiment sees the sharpest fall since the financial crisis. According to the latest quarterly Distributive Trades Survey by the CBI, UK retailers expect the most acute deterioration in business conditions since February 2009 in the coming months. Within the sub-sectors, only non-store retailing posted a rise in sales, while volumes dropped across most other sectors, including in grocers, clothing and hardware & DIY. Similarly, internet sales growth remained below its long-run average, Anna Leach, CBI Deputy Chief Economist, commented: “Sentiment is crumbling among retailers, and unexpectedly weak sales have led to a large overhang of stocks. With investment intentions for the year ahead and employment down, retailers expect a chilly few months ahead." To read the CBI's news release go to https://www.cbi.org.uk/media-centre/articles/retail-sentiment-sees-sharpest-fall-since-financial-crisis-cbi/.
A perfect storm of factors points to a harsh outlook ahead for UK manufacturers. According to a new survey by Make UK and BDO, Britain’s manufacturers are firmly in a nosedive. According to the survey, the total order balance, while still just in positive territory, fell to 2% in Q3 (down from 8% in Q2 and 16% in Q1) indicating the significant rate of weakening which has taken place since the start of the year. At the current trend, according to Make UK, barring a remarkable turnaround in the economy, the total order balance will almost certainly turn negative in the final quarter of the year. Furthermore, the survey comes on the back of the latest PMI data which shows all indicators have weakened significantly with investment and domestic orders, in particular, turning negative. To read BDO's news release go to https://www.bdo.co.uk/en-gb/news/2019/manufacturing-outlook-q3-2019.
HMRC data suggests a record-breaking year for UK exports. Gov.uk has reported that new statistics from HMRC have revealed that overseas demand for British goods increased in every UK nation in the 12 months to Q2 2019. Goods exports have now grown for four consecutive years in every UK nation. Overall, Scotland was the fastest-growing region, with exports growing by 14.5% over the past year, while goods exports in England increased by 2.7% to £252.0 billion, Wales grew by 6.8% to £17.7 billion and Northern Ireland rose by 6.8% to £9.1 billion. HMRC also noted that since the EU referendum, overseas demand for goods has significantly increased in each UK nation when compared to the same three-year period before the Brexit vote. To read Gov.uk's news release go to https://www.gov.uk/government/news/record-breaking-year-in-exports-for-all-uk-nations.
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Eurozone & Global Growth
The World Economy is forecast to experience the slowest annual growth for a decade. The National Institute of Economic and Social Research (NIESR) has reported that it has reduced its forecast for global GDP growth this year slightly to 3.25%, and now predicts that output growth will pick-up in 2020 to 3.5%. Not only is this likely to be, by a small margin, the slowest annual growth for a decade, but there are also risks to the outlook, most notably from uncertainties over trade policies and the progress of the US-China trade negotiations. NIESR notes that it is now clear that 2017 marked a peak year in the global economic growth cycle, with all three of the major economic areas – the US, China and the Euro Area – experiencing faster growth than a year earlier. To read NIESR's news go to https://www.niesr.ac.uk/media/niesr-press-release-prospects-world-economy-august-2019-review-13856.
New data confirms a slowdown in Eurozone growth. According to an estimate published by Eurostat, seasonally adjusted GDP rose by 0.2% in both the euro area (EA19) and the EU28 during the second quarter of 2019, compared with the previous quarter. In comparison, in Q1 2019, GDP grew by 0.4% in the euro area and by 0.5% in the EU28.  Among Member States for which Q2 data is available, Hungary (1.1%) recorded the highest growth compared with the previous quarter, followed by Romania (1.0%) and Bulgaria, Denmark, Greece, Cyprus, Lithuania and Poland (all 0.8%). Decreases were observed in the UK (-0.2%), Germany and Sweden (both -0.1%), while Italy experienced stagnation. Q2 GDP in the US increased by 0.5% compared with the previous quarter (after 0.8% in the first quarter of 2019). To read Eurostat's news release go to https://ec.europa.eu/eurostat/documents/2995521/10059905/2-06092019-AP-EN.pdf/cc94624f-af21-4849-bcb0-b144ad7f9597.
Please note that the text above is a summary of Eurostat's news.
Sluggish global growth predicted in 2019 and an uncertain outlook for 2020. The IMF's latest WEO update has predicted global growth of 3.2% in 2019, picking up to 3.5% in 2020 (0.1 % lower for both years than previous projections). However, the World Bank also warns that the projected growth outlook in 2020 is precarious, and presumes a stabilisation in currently stressed emerging market and developing economies as well as progress toward resolving trade policy differences. In the US, 2019 growth is expected to be 2.6%, moderating to 1.9% in 2020 as the fiscal stimulus unwinds. Growth in the euro area is projected at 1.3% in 2019 and 1.6% in 2020, with a weaker forecast for Germany. Assuming an orderly Brexit, the World Bank predicts that UK growth is set to rise by 1.3% in 2019 and 1.4% in 2020. To read the World Bank's news release go to https://www.imf.org/en/Publications/WEO/Issues/2019/07/18/WEOupdateJuly2019.
Preparing for Brexit
£10 million Brexit readiness fund is launched. A new initiative, the Business Readiness Fund, has been launched to support professional bodies, trade associations, chambers of commerce, chartered institutes and groups of organisations in the UK to prepare for Brexit ahead of the 31 October 2019 deadline. This includes practical advice and support, including (but not limited to): advice packs; information campaigns; webinars; podcasts; events or training workshops. Applications for grants can be submitted up to Monday 30 September 2019. Funding will have to be used on activities to be completed ahead of 31 October 2019. For more information go to https://www.gov.uk/government/news/business-secretary-launches-10-million-brexit-readiness-fund-for-business-organisations.
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European Commission calls for businesses to prepare for the UK's withdrawal on 31 October 2019. The European Commission has published a detailed checklist to help businesses that trade with the UK be aware of their responsibilities and the necessary formalities in cross-border trade should the UK leave the EU without a deal on 31 October. The European Commission has also put forward a plan which would allow access to two funds to help mitigate the impact of any serious and unforeseeable financial burdens inflicted on Member States directly caused by a no-deal Brexit. For more information go to https://ec.europa.eu/commission/presscorner/detail/en/ip_19_5509.
Online tool to help businesses prepare for Brexit.  The UK Government has developed an online tool designed to help UK businesses prepare for the UK exiting the EU on 31 October. The tool asks businesses seven questions which cover core operational areas that may be impacted and provides tailored guidance. For more information go to https://www.gov.uk/get-ready-brexit-check.
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VAT registered UK companies will now automatically receive EORI numbers to keep trading with customers and suppliers in the EU after Brexit. The UK government has announced that more than 88,000 VAT registered companies across the UK will now be automatically allocated and sent an Economic Operator Registration and Identification (EORI) number in the next two weeks. Until now, businesses needed to apply individually, and 72,000 companies have already registered. If businesses do not have an EORI number post-Brexit, they will be unable to continue to trade with EU Member States after Brexit. For more information go to https://www.gov.uk/government/news/chancellor-accelerates-brexit-preparations-for-businesses.
Please note: Businesses that are not VAT-registered will still need to register for an EORI number.
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A new online service aims to make it easier for British businesses to trade globally. A new online tool has been launched to help British business report issues, such as unnecessary legal, regulatory or administrative requirements, that are preventing them from trading around the world. It is hoped that the Department for International Trade’s global team of trade experts can then work with the relevant countries to resolve any issues flagged. The Department will also collect feedback to improve the service offered to businesses. For more information go to https://www.gov.uk/government/news/new-service-to-open-overseas-markets-for-uk-businesses.
Credit Management Training. 
Certificate & Diploma in Credit Management. The Association of International Credit Directors and Professionals (AICDP) Certificate & Diploma in Credit Management has announced that its next course begins in Dublin on Saturday 21st of September 2019. The course covers Collections, Introduction to Law, Credit Management and Credit Risk Assessment and runs for a full academic year. Information packs, workbooks and tests, are sent out each week for students to complete in their own time followed by weekly and fortnightly tests and assignments. Tutors (all of whom are experienced Credit Managers) are available either via email or by telephone. On successful completion of the Certificate, students can move into the second year and complete a Diploma. In simple terms, Certificate level is designed for credit controllers who want a valuable qualification to boost their careers; the Diploma is for those who are looking to get into management. For more information, go to http://www.icmt.ie/ or click here.
Advanced Diploma in Credit & Collections Management (Level 5). CICM's Advanced Diploma covers Strategic Planning, Compliance with legal, regulatory, ethical & social requirements, Advanced Credit Risk Management, Process Improvement, Strategic Communications & Leadership and Legal Proceedings & Insolvency. Additionally, the Advanced Diploma gives eligibility to Graduate Membership of the Chartered Institute of Credit Management and the right to use the professional letters MCICM(Grad). The qualification is aimed at credit controllers, analysts, department managers or team leaders who would like to move to more senior roles, or experienced credit managers who need to consolidate their experience with qualifications. It usually takes around two years to complete and is regulated by Ofqual. For more information go to https://qualifications.cicm.com/explore/credit-management/level-5-diploma-mcicm/.
Level 4 Diploma Course in Credit Management. CMT (Credit Management Training Ltd) has announced that its next level 4 diploma courses (five days on a one-day a week basis), will commence on 12 September in London. Topics covered include Understanding Credit Management, Managing Commercial Credit Risk, Powerful Collection Techniques, Legal Action and Insolvency, Export Overview and Developing Management Skills. There is an exam at the end of the course, and successful candidates will receive a Diploma – Pass, Merit or Distinction - and will qualify to use designated letters CMT Dip after their name. For more information go to https://www.cmtltd.co.uk/level-4-diploma-course.
News Quiz 
We are delighted to launch September's News Quiz.
Just five short questions (all answers can be found in this issue and Credit Insurance News Digest), with the chance to win a £10 Amazon gift card or equivalent donation to the charity of your choice.
We will announce our the winner in the next issue on 9 October.
Click here to take part.

Thank you to readers who took part in July's Quiz. We are delighted to say that the prize went to Clodagh Garavan at Evo Surety. Congratulations Clodagh!
Events & Offers
Digital Credit Management Conference, 26-27 September. Göttingen, Germany
Schumann are pleased to invite you to our two-day Digital Credit Management Conference in September in Germany. 
The main topics of our conference are: 
  • AI-driven credit and receivables management
  • Alternative business models in credit insurance
  • Integration of insurance solutions into trading platforms. 
We are expecting speakers and participants from Atradius, AXA, Coface, Euler Hermes, Munich Re, Nexus Trade Credit, R+V, Swiss Re, Zurich etc. Over the past 15 years our conference has become a leading platform for credit management experts. 
Registration is free of charge. 
To view the full agenda and register please follow this link: https://www.prof-schumann.de/en/company/schumann-conference.
If you need any further information please contact Bettina Bühnert (b.buehnert@prof-schumann.de).
GTR Europe 2019, 14 October 2019, Paris.
GTR Europe 2019 returns to Paris to welcome regional trade experts from across the continent. A key market gathering for European trade and export finance business heads and key relationship builders, the event will further expand on GTR’s unrivalled reach across the regional and global trade finance market.
Expected to welcome over 250 delegates from 15 countries, the conference will deliver a well-rounded outlook on Europe’s economic growth, trade concerns and priorities for the future, allowing representatives to share their insights on the most current topics.
This one-day event features sessions addressed by and for corporates and is one not to be missed by those looking to build trade relations across a range of exciting markets! 
Last year, the two largest sectors in attendance were corporates & traders (39%) and bankers & financiers (22%). Over 250 different companies from around the world were in attendance, 78% of all attendees held a senior to a c-level position. Use code: EBD10 for 10% early booking discount – expires September 20. Click here for more information.
Supply Chain Finance Summit, 15-16 October 2019, Singapore.
BCR’s Supply Chain Finance Summit-APAC in Singapore focuses on the growth of supply chain finance across the APAC region.
With local governments, international and regional banks; and investors all actively encouraging the development of local and cross-border SCF programmes, it is now, more than ever before, vital to review the latest developments in this market and understand how to capitalise on opportunities in this region.
Join us in Singapore to hear from the industry's thought leaders, engage in debate, network with your peers and help define the future of working capital.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-apac-0.
 The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking.

GTR Africa London 2019, 13 November 2019. London
GTR’s well-known annual African-focused conference, GTR Africa London, will return once again to London this Autumn. It has quickly become a key annual gathering for domestic and international trade, as well as export and project finance professionals focusing on growth and sustainability within Africa.
Over 300 delegates are expected in attendance on November 13, with a dual-stream conference agenda covering a broad range of topics focusing on creating a sustainable vision for the future of African trade. Delegates will explore these topics through multi-format sessions which will include; case studies, interactive panel discussions, break-out sessions, and a new ‘fire-side chat’ format, as well as our famous networking opportunities.
GTR Africa London will look at the pros of ECA’s, supporting infrastructure development and tech innovation and how it can benefit the European region in the global trade race for Africa as well as using the benefits of common European languages in negotiations for a sense of trust through language. The conference will also dive into the risks involved in investing into Africa alongside Chinese and UK government policies while exploring the “in’s and out’s” of the AfCFTA.
As supporting partner, we have secured a limited amount of free Corporate Rate passes to attend the event, normally £849. Corporate Rate passes are only available to those who are exporters, importers, manufactures, distributors, traders & producers of physical goods and are not valid in conjunction with other discounts and available for new registrations only.
To check your eligibility, and to register on a free Corporate Rate pass, please contact Tanya Naysmith at tnaysmith@gtreview.com.
All others, including bankers, insurers, solution providers etc., can receive a special 15% partnership discount when booking online with code: CIN15.
For more information on GTR Africa London 2019, visit 
the event website or download the event brochure.
Alternative & Receivables Finance Forum, 14 November. London.
Alternative & Receivables Finance Forum tracks the transformation of receivables and invoice finance; showcasing the most successful new entrants to the market, examining the future of technology-enabled funding models, and driving the conversation on alternative finance for SMEs. This is a unique gathering, where you can network with established receivables finance providers and ‘alternative’ SME funders and find out how the competitive landscape for commercial finance is changing.
The comprehensive programme provides insights into the priorities influencing SMEs’ financial choices and showcases the latest technology-enabled distribution models.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/alternative-receivables-finance-forum-1. The Credit Insurance News delegate discount code is CIN19 – please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
Supply Chain Finance Summit, 30-31 January 2020. Amsterdam
The fifth annual Supply Chain Finance Summit is a great opportunity to learn about the latest trends, ideas and developments transforming working capital and supply chain management, as well as a chance to network with leaders in the industry.
This in-depth event tracks the transformation of supply chain finance (SCF); showcasing the latest innovations within the industry for both domestic and cross-border financing, examining the future of technology-enabled supply chain models, and driving the conversation on increasing access of SCF for SMEs and emerging markets.
As event partners, Credit Insurance News can offer their members a 10% discount on a delegate pass rate. To register please follow this link https://bcrpub.com/events/supply-chain-finance-summit-1.
The Credit Insurance News delegate discount code is CIN20– please utilise the code upon booking. Alternatively you can contact yongmei.he@bcrpub.com quoting your discount code for payment via invoice.
About the Sponsor: STA International
STA International is the recommended debt collection partner to six credit insurance underwriters. Systems alignment provides a secure and transparent service to reduce protracted default (PD) claims, and increase policyholders’ cash flow.
When UK and overseas accounts are referred at the end of the Maximum Extension Period (MEP) to STA, Late Payment Act interest and collection cost is added to the principal debt, and immediate contact made with the buyer.
This early intervention results in the majority of accounts being paid quickly, the policyholder receiving prompt remittance of the principal sum and interest, with STAs costs covered by the buyer paying the collection costs.
The underwriter has online access to each and every action taken by STA, including a consolidation of a single buyer across multiple policyholders. Simultaneously, the policyholder sees every STA action on each buyer it places for collection, along with collection success dashboard and recovery cost details.
With PD claims reduced for the underwriter, cash flow and premium protection maximised for the policyholder, STA provides a win-win solution to the challenges of cash collection.
To find out more, please visit 
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