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Globalia Logistics Network's Payment Protection Plan OPTIONAL FOR MEMBERS

Safeguards to protect Globalia's members against bad debts

High membership standars

Globalia uses Dun and Bradstreet to evaluate potential members

The first line of defence is that only the most solvent, reputable, and creditworthy agents are accepted as members. Furthermore, we continue to monitor their performance, and promptly detect any signs of trouble, such as the late payment of an invoice issued by another member.

Members must immediately notify the GLB Organization when a member is late with a payment, and a warning light is shown next to the offending member's Agent Profile (see Rule 9.8).

Payment Protection Plan (PPP)

Payment Protection Plan with Globalia Logistics Network

The optional Payment Protection Plan (PPP) protects members against losses due to uncollected debts from other members in the event of bankruptcy or insolvency.

It does not cover disputed invoices, which are provided for under Rule 9 (Payments) and Rule 10 (Dispute Resolution Service) specified in Rules and Procedures on this website. The annual contribution is now 500 EUR per member, subject to review each year.

How the PPP works

How the Payment Protection Plan works

During the first quarter of each calendar year, Globalia's Organization may use up to 80% of the monies in the PPP fund to participating members as compensation for debts from members who have declared bankruptcy or gone out of business during the year. A maximum amount of 25,000 USD per debtor, although the amount may not exceed the credit limit posted for the debtor member.

To legally collect such debts the PPP will engage the services of a reputable debt collection agency.

PPP accounts will be kept completely separate from those of the Globalia Logistics Network, and will be open to the scrutiny of all participating members.

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