Participants can now buy and sell seafood online at the Seafoodportal.comin a matter of seconds, with just one click of a button; the first insured transaction took place on Friday November 8 2019. Seafood producers and traders can assess the creditworthiness of potential buyers and insure a trade on the spot, backed by the security of the world's largest trade credit insurance company Euler Hermes, part of the Allianz Group.
Disrupting of a mature market, JET Seafood’s digital marketplace enables anonymous sellers and buyers to get transparent prices, an overview of supply and demand, improved liquidity and increased market access. This facilitates the equal opportunity trading of seafood products, specifically salmon, and creates market efficiency, better price discovery and supply chain security for seafood producers in Norway and beyond.
Seafoodportal.comcreates a secure centralised marketplace where fish farmers, sellers, and traders can conduct business whilst simultaneously reducing risk and increasing the security of their accounts receivable. Growth in demand is expected to increase rapidly in the coming months.
Euler Hermes believes that there is a growing market for trade credit insurance adapted for small and medium-sized enterprises. Offering single invoice insurance services through financing platforms and innovative marketplaces around the world such as the Seafoodportal.comopens that market.
Credit insurance in a few clicks
The technical integration between JET Seafood and Euler Hermes allows users of the platform to insure their accounts receivable trade by trade when trading seafood at the Seafoodportal.com. During the sales process, fish farmers and other approved members of Seafoodportal.comcan instantly credit check and purchase credit insurance on individual trades, ensuring that if a buyer fails to pay, or goes bankrupt, the payment is guaranteed.