Following the final claims review for the 2016 fiscal year, IAM is paying out $192,500 USD to settle qualified Unpaid Invoice Compensation claims submitted through the Receivable Protection Program (RPP).

Unpaid Invoice Compensation is the primary benefit of the RPP, through which IAM compensates IAM Governing and Core Members whose invoices were not paid by other members who went out of business. RPP Unpaid Invoice Compensation protects your company from financial loss when conducting work on behalf of another IAM member.

In addition to the Unpaid Invoice Compensation paid out for the 2015 fiscal year, the RPP has now reimbursed IAM members $274,111.63 USD since it became an inclusive member benefit for all IAM Governing and Core Members on January 1, 2015.

The 236% increase in Unpaid Invoice Compensation payouts from 2015 to 2016 can be attributed to the high number of companies who went out of business in 2016. As compared to the three IAM Members who went out of business and triggered the payment of RPP claims in 2015, eight IAM Members went out of business in 2016. These companies are as follows: Global Relocations LLC - UAE Fox Logistics SRL - Italy iMoveGreen LLC - USA Diamond Worldwide Relocations - USA Evergreen Forwarding, Inc. - USA Neostar International Moving - Canada PTY Packers - Panama American World Forwarders - USA

If your company is an IAM Member and owed money by another IAM member and the invoice is less than 120 days old, contact IAM at rpp@iamovers.org to begin the claims process. If your company is not an IAM Member and would like to obtain the coverage of the RPP, please contact membership@iamovers.org.

Beyond compensating for unpaid invoices, IAM may also intervene on unpaid invoices owed from one member to another through the RPP. If the delinquent company does not resolve the unpaid invoices after a series of interventions by IAM staff, the delinquent company’s name is added to the IAM Alleged Debtor List, which is circulated to every IAM Member on a monthly basis.