You will be protected against the non-payment of a valid invoice, either because your customer won’t pay or their business has become insolvent.
You won’t be protected against:
- Non-payment of a disputed invoice
You’ll need to settle the dispute with your customer before Hokodo will consider your claim.
- Damage or loss of goods in transit
If you need this cover, it should be covered by your normal business insurance policy.
- Activity by a government which prevents your invoice being paid
This means events such as war, requisition of a property, currency controls etc.
- Fraud or dishonesty
You’re not covered for claims which are the result of fraud or dishonesty by your company
- Illegal claims
You’re not covered for claims which would require Hokodo to breach sanctions or anti-money laundering regulations.