PRODUCT LIABILITY INSURANCE ("PLI")
Vendor Certification of PLI Coverage:
Connor’s IT system and team ensures that each supplier we work with on behalf of our clients certifies PLI coverage as required. Each supplier must upload a copy of the certificate to our system. Suppliers who do not have PLI coverage are identified and contacted to direct them to obtain required PLI. coverage be obtained.
PLI Insurance
For suppliers who do not have and cannot arrange PLI coverage we have arranged a master PLI policy using the buying power of our combined sourcing volume that can be offered that is simple to obtain, low cost premium and insured by recognized US & European insurance carriers.
Vendor Finance Service (“VFS”)
Connor’s Vendor Financing Service
is a financing program created in
partnership with our banks and credit
insurance company that helps lower the
cost of capital for suppliers in accepting
longer payment terms. Suppliers are
offered discounted early payment
based on the client’s credit risk and
US dollar finance terms.
BENEFITS
Expand supplier base
willing to accept extended
payment terms.
Lower cost of goods by
reducing supplier’s cost of capital
and improving their liquidity.
Improved commercial terms
without increasing cost to
the supply chain.