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Coface Canada

Overview:

Coface Canada helps companies -- of all sizes, in all industries -- minimize the risk of trading on credit. Our three main areas of business are credit insurance, credit reporting and collections services

Coface Canada is a unit of the Coface Group, a world leader in trade-risk management, serving over 100,000 clients in 93 countries worldwide. Leveraging 60 years of experience and a database of 50 million companies, Coface sets the global standard in assessing creditworthiness and protecting companies worldwide against the risk of non-payment.

History:

Coface began its North American operations in the early 1990s. In the area of business information services Coface acquired a stake in two credit-reporting agencies, as well as the Kompass International franchises for the United States and Canada. This provided Coface’s international customers with access to current business information from the US and Canada, and it offered companies located in North America access to its rich array of international credit reports and scores.

At about the same time, Coface initiated a joint venture with then CNA Credit to provide export protection to CNA Credit policyholders. This venture proved beneficial to both organizations, and at the end of 2002 Coface extended its presence by acquiring the CNA Credit unit.

In 2004, Coface S.A., the parent of Coface North America, received permission from authorities to open a branch office in Canada. The office was established to amplify and broaden Coface’s existing presence in Canada. Coface North America has put in place a team to manage and underwrite the Canadian business. In 2005, Coface entered into an agreement with Export Development Canada (EDC) for the provision of domestic receivables cover to EDC’s short term insurance customers. This agreement enables Canadian exporters who receive insurance cover for their export receivables from EDC to obtain cover for their domestic receivables from Coface.

In 2007, Factoring and Debt Collection business lines have been established in Canada.

Coface Canada, with over 25 years of experience in Credit Insurance, has two offices in Canada: one in Toronto, Ontario and one in Dorval, Quebec. The branch is led by Mr. Christopher Short, prior Vice President of International and Strategic Accounts at Coface North America.

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