amber alert rules

 

The purpose of the Amber Alert system is to ensure that all debts between GLN Members are settled promptly and also to provide GLN with an early indication of potential problems which could impact the AR Fund.

Basic Workings:
As a general principal, all transactions between members should be settled – either by payment or contra-settlement - by the 30th day following the end of the month during which the invoice is dated. i.e., all invoices dated during March should be settled by April 30.

On the 15th of every month, GLN staff will send out a reminder requesting to be advised if Members have any outstanding debts that exceed the given timeframe. Using the above example, the reminder will be sent out on May 15 and cover invoices dated March 30 and earlier. Member responses are requested within 5 days (i.e. by no later than the 20th of the month)

GLN Intervention:
Immediately upon being advised of delinquent debts, GLN will send a 1st email requesting immediate payment. If payment is NOT made after 5 days, GLN will send a 2nd and Final Reminder. If payment is NOT made after an additional 5 days, that company will be placed on “Amber Alert”. This will include notifying all GLN Members, displaying such on the GLN website and only being removed from the Amber Alert status when payment has been confirm by the original claimant and all other GLN Members.

Interface with the AR Fund
If you do NOT advise GLN of delinquent debts consistent with the Amber Alert rules specified above, these debts will be considered ineligible for recovery under the GLN Accounts Receivable Fund.

 

 

 

 

Revised: October 2009