Payment terms are an interesting case in the Netherlands. Only 42% of participants in the Q1 2020 survey answered that they offer payment terms, and this figure increased only slightly to 48% in Q2 2020. Short-term credit periods dominate the Dutch business landscape, with 85% of companies that offer payment terms requesting a payment within 60 days. Between the first and the second quarter of 2020, the distribution changed, with a decrease in the short- to middle-term period (between 31 and 60 days) and an increase within the very short-term segment (1 to 30 days).
The COVID-19 pandemic has triggered a mobility crisis, mainly because of physical distancing requirements and the necessity to avoid confined spaces, to limit the virus’propagation. This has had a disastrous impact on the global transport sector, with air passenger transport being the most affected segment.
Trade credit risk insurance company Coface Baltics has received information that fraudsters have approached private individuals residing in Latvia on behalf of company’s name by offering them fake insurance and loan services. The company warns residents to be vigilant and precautious as this might be a fraud scheme.
Coface Baltics emphasizes that company does not offer services to private individuals and focuses purely on business clients. The company also does not offer loan insurance.
There are only two ways, how business representative can order Coface Baltics services:
- Being contacted directly by official representative of Coface Baltics.
- Contacting Coface Baltics directly with official contact details (www.coface.lt) or via official partner (e.g. licensed broker).
Coface Baltics always performs all required procedures in order to identify the business representative (KYC, AML etc.) and provides all required documents to be signed.
All Coface Baltics agreements are being signed by local representatives, who’s contacts are available on official website http://www.coface.lt/en/About-Coface/Coface-in-Baltics/Our-organization.
Coface Baltics has informed State Police about fraudster’s actions and warns residents to be vigilant and precautious as this might be a fraudulent scheme.
If Coface Baltics clients have any concerns, the company urges to contact local Coface customer service by dialling +37052791727 or emailing to firstname.lastname@example.org.