You will receive two separate bills in your Xero accounting software, because you are billed via two separate entities of the Euler Hermes Group. This was introduced mainly for to tax and regulatory reasons.
The insurance premium is charged via Euler Hermes UK, a branch of Euler Hermes SA (NV) and is subject to Insurance Premium Tax (IPT)
The administration fee is charges via Euler Hermes Services UK Limited and is subject to VAT.
You have the option to select different chart of accounts for each invoices.
Tradelock is a product offering of Euler Hermes, you can read more about our relationship to Euler Hermes here.