The first dark clouds are gathering on the economic horizon of the chemical industry and may cause an unattractive dip in otherwise impressive growth.With the oil price remaining high, concerns that global economic growth is cooling and ever fiercer competition, the outlook is gloomy. There is also uncertainty about the reform of the European Community Regulation on chemicals, REACH, the financial impact ofwhich is still impossible to predict formost companies. Such lists of possible causes of an economic slowdown often fail to mention the risk of bad debts,whichmay result in considerable financial difficulties for companies or, in the worst case scenario, lead to insolvency. However, providing security against the risk of payment default should always be on the agenda. This is particularly relevant in viewof the growing importance of trade credit, a fact reflected by the winter 2007 Payment Practices Barometer recently published byAtradius. In addition, payment practices have deteriorated in some countries and sectors in Europe.