Countingup wants to make it easier and more enjoyable to run your business. That's why we have partnered with Hokodo, to bring you peace of mind by protecting your invoices against non-payment. Get paid, even if your customers don’t pay you.
Each year in the UK, over £5.6b is written off for SMEs. Countingup & Hokodo are helping change that tide by giving business owners the protection they deserve with no long term commitment and no fixed fee. Pay to protect the invoices you want with just a few clicks.
How long does it take to get protected?
It takes less than one minute to get your invoice protected, and a matter of minutes to manage and make a claim.
How does it work?
If your customer becomes insolvent while owing you money, notify Hokodo and they’ll pay a claim. If your customer is not insolvent but is still not paying, notify Hokodo when the invoice becomes 45 days overdue. They have specialist collections partners who will collect the money on your behalf, and if that fails, then they’ll pay a claim.
Which invoices should I protect?
You’d get peace of mind from insuring any of your invoices. Many large corporates insure all their accounts receivable. Factors to consider for a particular invoice might be: can I afford to write-off this invoice? Do I trust this company? Am I comfortable with how this company trades?
How much does it cost?
The typical cost is between 0.3% and 1% of the invoice value, depending on the creditworthiness of your customer.
How much do you cover?
Hokodo can automatically cover invoices up to £22,000 (net of VAT). Above this level, Hokodo can probably still cover you but you may need to get in touch first. Hokodo insures 90% of the invoice value - in other words, this is the amount they will pay you if you need to make a claim.
Do you cover non-payment by my customer, whatever the reason?
Hokodo protects you against insolvency or non-payment by your buyer. However, they can’t cover situations where you failed to deliver the services or goods to your customer. If your customer disputes the validity of your invoice, then the Hokodo debt collectors will attempt to help you resolve this dispute, but they will only be able to settle a claim once the dispute is resolved in your favour.
Hokodo is underwritten by Lloyd’s of London, the world’s leading specialist insurance market and Hokodo Services is authorised by the Financial Conduct Authority as an Appointed Representative of Innovative Risk Ltd. You can be sure that your cover is in good hands.