Atradius Oceania Case Study Ausfine
Why We Choose Atradius
They provided us with a personalised, robust policy that has pre-shipment capability with a significant percentage of our turnover insured and they also include their Debt Collection product as part of the offering. Atradius's service is straightforward with open communication which has resulted in us having held our policy with Atradius for 10+ years.
Finding more competitive pricing for trade credit insurance with a company that could also take the responsibility of doing the credit checks as we didn’t have the in-house expertise required to complete the checks, along with the ability to understand if we have the best policy for our business.
Ausfine Case Study
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Challenge
We found out a customer was a very high risk after Trade Credit Insurance cover was given and the shipment to the Middle East was in transit.
Situation
In 2018, we had a customer in the Middle East who wanted to order a shipment of meat. After receiving cover from Atradius, we contracted to ship the product to them. Unfortunately, when the shipment was in transit, information came to light from a local agency in the Middle East, that there had been some recent bad reporting on the reliability of this customer to make payment.
As the shipment got closer to the destination, we started hearing concerning information from the customer in terms of them wanting to make a change to the order, that it was supposed to be something else and not what they had ordered, and they needed to delay the payment. We were nervous about the customer and now we had reason to be. It became clear that the customer had no intention of executing the contract and was a very high risk of payment default.
Through our collaboration with Atradius, and to mitigate loss, we were able to have the shipment turned around and delivered to another company in Malaysia. This resulted in a loss of 30k as opposed to a 150k loss which was a win/win for both us and Atradius.
Outcome
There was a loss of 30k on the resale which Atradius covered but it could have been a $150k loss if we had not been able to come up with a workable solution. This is a testament to the collaboration between Ausfine and Atradius, ensuring the best possible outcome for both parties.
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“What we appreciate most about working with Atradius, is the ability to have honest and open dialogue in a collaborative environment”.
~ Garry Embleton
About Ausfine Foods
Ausfine Foods International was established in 1988 by three partners, Don Scarlett, Terry Grigg and Graeme Amoore. Each had a vast amount of experience in the Australian dairy and meat industries. Over the subsequent years, Ausfine has developed strong relationships with many leading dairy manufacturers and meat producers from Australia, New Zealand, Europe, and USA, and they have earned a reputation for delivering excellent levels of service to their international customers.
2022 marked the next evolution of Ausfine as the company returned to 100% Australian ownership, a natural progression as it continues on its quest to become the most trusted business partner for all of its suppliers and customers globally. Ausfine continues to grow through the addition of highly motivated and skilled team members that culturally align with the Ausfine values and on that ultimate target of becoming the most trusted.
Ausfine HQ remains in Melbourne, Australia, home to its fastest growing market – Australia, and it’s team of experts in global and domestic food trade. Ausfine’s largest subsidiary office is located in Jakarta, Indonesia. PT Ausfine Foods Indonesia is rapidly becoming the superstar at Ausfine as the Indonesian office grows month on month and continues on the same journey of becoming Indonesia’s most trusted business partner for its suppliers and customers. This reflects Ausfine’s passion for the Indonesian market.
Ausfine also has subsidiary offices in Auckland New Zealand and has just established an on the ground presence in the USA, based in Denver Colorado. All while maintaining a focus on the rest of Southeast Asia and North Asia, our traditional markets and heartland.
