Claims, Indemnification and Recoveries

Should you not receive the amounts owed to you, you would like to receive compensation for your losses - this is after all why you took out insurance.

Read on to learn more about how your claim for indemnification will be settled and what happens thereafter.

 

 

Claim your receivables back

 

 

Imminent Losses

If losses are imminent after you have delivered your goods and/or services, please contact us. Together we will see what can be done to induce your client to make the payments due before expiry of the waiting period, which is usually three months. If you have also taken out manufacturing risk insurance against pre-delivery losses and you expect that you will not be able to deliver the goods or services as per the terms of your export contract, you run the risk of not being paid for the costs you have incurred (manufacturing or completion losses). Please contact us in such a case as well. In consultation with you we will see what we can do to prevent or limit losses.

If you have still not received payment upon expiry of the waiting period, you may submit a claim for damages with us. The form is only available in Dutch.

If it is clear that a receivable or loan instalment will not be paid within the waiting period - for example, due to insolvency of the debtor - you may submit your claim for indemnification on the payment due date.

We have a flyer available in Dutch that gives you tips to prevent losses after receipt of your insurance policy to ensure that your cover will remain valid. Should you have any questions, please do not hesitate to contact our Claims & Recoveries Department.  

Indemnification

If you have a right to indemnification, we will send you a “Claim Payment Calculation and Receivable Assignment Form”, stating the amount we will pay you. This is usually the amount of the unpaid receivable plus interest. By signing the form you agree to the claim payment calculation and furthermore legally assign the total amount of the receivable to us. You will receive the indemnification on your bank account a few days later.  

Recoveries

After we have indemnified you, we will take measures to collect the amount owed by your client. This we will do in consultation with you. Possible measures include our agreeing new payment terms with your client or hiring a local debt collector. If your client is a government, the Netherlands Embassy for the country concerned can be of assistance in collecting the debt. Any amounts we may recover will be shared with you according to your portion of the loss (i.e. your deductible, or, own risk). 

Paris Club

If the debtor is a government with longer-term arrears, we report it to the Paris Club.  

The origins of the Paris Club date back to 1956 when Argentina agreed to meet its public creditors in Paris. Since then, the Paris Club has grown into an informal group of public creditors whose mission it is to find coordinated and lasting solutions to payment problems of governments (not private debtors). While a government implements reforms to stabilize and restore its own macroeconomic and financial situation, Club of Paris creditors collectively provide appropriate debt treatment arrangements. 

Starting January 1, 2023, we publish Paris Club settlements concluded after 1-1-2023 in which the Netherlands has a stake. In addition, we will publish the eci claims the Netherlands has outstanding per country under a Paris Club arrangement every six months. These claims include overdue and future principal, consolidation interest and the insured's share of excess, excluding overdue interest.  (see under downloads)
 
For more information on the Paris Club, please refer to their website: Club de Paris.

Questions or advice?

In case you wish to discuss or get specific advice applicable to your needs, do not hesitate to contact one of our product experts via +31 (0) 020 553 26 93 or send us an email info.dsb@atradius.com.

 

Related documents

Download
Schadeaangifte

70KB Word Document

Download
Schadeclaim

82KB PDF