amber alert rules

The purpose of the AA system is to stop GLN members from being tardy on their monthly accounts receivable payments to other members and as a potential "problem indicator".

The following table is an "indication" of when monthly payments should be paid and when the AA system should be utilized.

Please be sure to settle disputes BEFORE sending any AR/AA action requests to the GLN President.

GLN Platinum members must follow the guidelines in order for potential compensation to be considered if the offending member goes bankrupt/insolvent. ONLY Platinum Members can be considered for compensation from the AR fund. In some circumstances the fund may be used to offset monies owed- even if a member is not bankrupt/insolvent but may have resigned from the Network.

It is the sole responsibility of GLN members to alert GLN if any other GLN member abuses the agreed credit arrangements. This system is for the benefit of ALL GLN members.

Failure to follow these minimum guidelines may result in compensation claims by Platinum members to be denied. It is the prerogative of the AR Committee (GLN , Detraco Germany and Triway's Sydney, Australia) to determine use of the AR Fund.

Effective from December 15th, 2007 GLN staff will send out a reminder, at the same time each month, requesting if any members are have surpassed AA payment deadlines. If you do not report any offenders then it will not be part of any future consideration for claim against the AR fund.

Step 1: General Principals	Monthly Statement for Month 1 to be issued by the 10th and no later than the 15th day of Month 2. Statements of Accounts with other members shall include all activities during the preceding month (including Profit Share details if applicable).
Step 1: General Principals	By no later than the 15th of the month, a Net Settlement between members shall be agreed upon in the event that both parties have open transactions and have previously agreed to “contra” arrangements. The Net Settlement covering Month 1 shall be settled (or contra-settled) by no later than the 30/31st day of Month 2. Settlement shall be made by whatever means have previously been agreed upon; normally in the currency of issue with Banking Fees paid by the originator.
Step 2: Alert GLN	GLN President to be alerted if funds not received by the 15th day of Month 3. (If Platinum members do not follow these timelines they may not be compensated from the fund if circumstances otherwise dictate). Interest shall accrue at a rate of 1.5% per month on balances not paid by the 15th day of Month 3.
Step 3: GLN Intervenes	GLN will send a 1st email requesting payment upon receipt of advice
Step 3: GLN Intervenes	GLN will send 2nd Final Reminder to offending member if payment has not been made by 25th day of Month 3.
Step 4: Amber Alert Issued	If Monthly Statement is not settled by the last day of Month 3, Member will be placed on the Amber Alert List; all GLN Members notified accordingly and only removed when payment has been confirm and all other GLN Members confirm that offender is current with them.

The maximum payment cycle time allowed for all members is as per the table above. Any agreement between members to different credit terms and not within the AA time lines stated, will exclude them from any claim against the AR fund.