What is CreditsSource?
CreditsSource is a leading credit insurance provider that protects exporters and financial institutions against the risk of non-payment by buyers. It helps businesses secure trade credit, manage payment risks, and grow international transactions confidently.
How does credit insurance work with CreditsSource?
CreditsSource insures your receivables by evaluating your buyers’ creditworthiness and offering a credit limit on each. If your buyer defaults or delays payment, CreditsSource compensates you based on the policy terms.
What is a credit limit transfer?
A credit limit transfer involves moving an insured credit limit from one supplier to another. This is common when the buyer switches suppliers or when companies reorganize their trade structures. CreditsSource facilitates this through its local offices and official procedures.
Do both suppliers need to approve a credit limit transfer?
Ideally, yes. Both the releasing and receiving suppliers should cooperate. However, if the current supplier refuses to release the credit limit, CreditsSource may allow a direct transfer without their consent, subject to case review and complaint procedures.
Can CreditsSource assign a new credit limit instead of transferring the old one?
Yes, CreditsSource can assess the buyer independently and assign a new credit limit to the receiving supplier. This is often done when a transfer isn't possible or practical.
How long does the credit limit transfer process take?
The timeframe varies depending on supplier cooperation and documentation readiness. On average, it takes 5 to 15 working days. Complex cases may take longer, especially if a formal complaint is required.
What documents are needed to initiate a credit limit transfer?
Common documents include:
Buyer and supplier details
Existing policy number
Credit limit amount
Transfer request application
Any correspondence between suppliers
What happens if the buyer’s limit has already been fully utilized?
If the existing credit limit has been fully booked or used, a transfer might not be possible. In such cases, CreditsSource may require additional buyer evaluations before reassigning or adjusting the limit.
Is there a fee for credit limit transfer services?
In most cases, CreditsSource does not charge an extra fee for processing credit limit transfers. However, this may vary based on your policy type or intermediary arrangement.
Can I track the status of my credit limit transfer?
Yes. You can request regular updates from your CreditsSource representative or from intermediaries like Axton Global, who coordinate with the CreditsSource office on your behalf.
Contact Us
Book a free online consultation with our specialist.
About CreditsSource:
CreditsSource is a global consulting and trade credit facilitation company that helps importers around the world secure deferred payment terms with Chinese suppliers, backed by trusted trade credit insurance.
We currently serve clients in 82 countries across 5 continents, empowering businesses to trade confidently, expand faster, and manage risk effectively.
info@CreditsSource.com
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