| Receivable aging | Invoice exposure by contractual days past due, retaining disputes, credits and partial payments. |
| Buyer concentration | Eligible receivables or insured exposure attributable to each buyer and related group. |
| Limit utilization | Eligible insured exposure divided by the documented buyer limit, with exclusions identified. |
| Claims frequency | Claims against a defined policy, buyer or invoice population and observation horizon. |
| Claims severity | Paid or incurred claim amounts, recoveries, deductibles and coverage share stated separately. |
| Loss ratio | A defined claims measure divided by the corresponding premium measure, on a consistent accounting basis. |
