What does Nimbla cover, and is there anything you should be aware of?
Nimbla covers debtors from across the UK and several different EU countries, in every single industry. Debtor limits will change from company to company, and you can get a live update on what is available through your Nimbla account at any time. By inputting your invoice details onto our platform, or by syncing your accounting package to do this automatically, you can see whether or not each invoice can be covered.
However, it is worth noting that Nimbla can only cover valid invoices. This means that you need to ensure that:
- Your invoice has been correctly issued. In some industries such as construction, various contractual obligations must occur before a valid invoice can be issued. In such cases, Nimbla cannot offer cover until the invoice has been issued – so if there will be a lengthy period of risk before the invoice is issued, it may not be the cover you require.
- A claim can only be made if a company goes insolvent during the policy term, and an insolvency practitioner is appointed. Therefore it is important to make sure that your buyer is who they say they are, by performing sufficient due diligence. Nimbla cannot pay a claim for a fraudulent buyer.
- You must have written record of your buyer requesting the goods or services, to ensure that they are not able to dispute invoices at a later date. Claims cannot be made regarding disputed invoices.