It’s free to sign-up to TradeLock and access risk information on your clients.
After signing-up you can immediately request a quote for insurance on a per invoice basis - also totally free.
So you will only need to pay, if you decide to take out insurance. The price to insure an invoice is usually between 0.2% to 1.5% of the invoice value.
However, insurance pricing depends on a number of factors, such as:
- your buyers credit score
- the invoice payment terms
- the amount of cover required
A 12% Insurance Premium Tax is applied to domestic customers and a £12 administration fee (incl. VAT) is applied to the final price paid.