How can I maximise my claim pay out?

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Here are 7 tips to make sure your claim is successful:

Tip	Why
1. Always trade within your Maximum Extension Period (MEP)	Avoid continuing to supply a buyer that is overdue beyond MEP as this will jeopardise your claim. Please refer to our Q&A titled What does MCT & MEP mean?
2. Don’t trade above your Credit Limit Decision	Your trade credit insurance policy covers you up to your approved credit limit. Any deliveries above that will not be covered. For example if you have a $100K credit limit approved and trade at $120K, the additional $20K will not be covered and will be excluded from the claim calculation.
3. Do not offer payment terms to customers beyond the Maximum Credit Terms allowed in your policy	When you set up your trade credit insurance policy, we agree to Maximum Credit Terms. Payment terms agreed with your buyer must be within your Maximum Credit Terms. Exceeding these terms will jeopardise your claim and can result in Atradius having no liability.
4. Ensure you take action to minimise any loss and try to recover the debt as soon as you realise there is a payment problem	You need to demonstrate action taken to minimise your loss. Evidence of this can include: Issuing a demand letter Appointing Atradius Collections to chase the debt on your behalf - we can offer contribution to costs of collection Taking legal action Pursue any PPSR, guarantees or any other security interest available
5. Ensure you notify Atradius of any overdue or adverse information as soon as possible	The sooner Atradius is informed of an overdue amount or adverse information, we can start protecting you and your business. Notify Atradius if: Your buyer becomes insolvent Your buyer has Cash flow issues Your buyer has offered to pay in instalments. A repayment plan can be considered, however the repayment proposal must be approved by Atradius You are aware of any reason that may prevent the buyer from paying you
6. Understand exactly what is required to be able to justify any “discretionary limit” Atradius grants you	Your policy spells out the justification criteria for you to establish a limit under your Discretionary Limit. Ensure you fully understand that criteria.
7. Don’t jeopardise your cover by trading on cash terms with a buyer without our approval.	If a buyer is overdue beyond the maximum extension period (MEP) and requests future supply and offers to pay in cash, contact Atradius immediately before you consider agreeing to this. Remember, any payments made in cash are allocated to the oldest outstanding receivable which may reduce any potential claim payment.

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