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Pre-Credit Risk

Pre-Credit Risk or pre-shipment - let's say you are a manufacturer of bespoke machinery, so you build a machine to a clients specification, this could involve many hours of labour and lots of materials. Pre-Credit Risk covers you for unshipped goods, so another example could be that you have bought special materials and have tailored them to a specific contract (could be you have printed the buyers name on them - a tee shirt or a carpet for a hotel chain, etc).

If you are a construction company or builder, then make sure you have a clause for Pre-Credit Risk, however, in this area it is known as a "work done and services rendered clause", also known as a "work in progress".

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