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.
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.
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.
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).
Questions or advice?
Please contact an Atradius Dutch State Business advisor via +31 (0) 020 553 26 93 or email@example.com.