2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Who was the head of panel who recommended an increase in indemnity being provided to the policyholders under Trade Credit Insurance from existing 85% of the trade receivables from each buyer to 90%?
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Pushp Agrawal
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Atul Sahai
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Shanai Ghosh
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Subhash Chandra
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Explanation:
Detailed explanation-1: -Trade credit insurance protects manufacturers, traders and service providers against losses from non-payment of a commercial trade debt. If a buyer does not pay (often due to bankruptcy or insolvency) or pays very late, the trade credit insurance policy will pay out a percentage of the outstanding debt.
Detailed explanation-2: -Major Exclusions of Trade Credit Insurance Any punishment or damages which are buyer entitled to pay are not covered by this Trade Credit insurance policy. Pre-shipment risk is excluded from this coverage. Any kind of advanced sales, sales against BG/LC, sales to individuals are not covered.
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