The British Chambers of Commerce (BCC) has welcomed the Government’s announcement to temporarily guarantee business-to-business transactions which are currently supported by Trade Credit Insurance.
This will ensure the majority of insurance coverage will be maintained and will support supply chains and help businesses to trade with confidence as they can trust that they will be protected if a customer defaults on payment.
BCC Director General Adam Marshall said: “The Government has demonstrated once again that it is listening to the concerns of our business communities.
“The launch of a Government-backed guarantee to support the provision of trade credit insurance will help ensure that this vital lifeline remains available to businesses during and after this crisis, helping to maintain supply chains and trade.”
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