PAYMENT PROTECTION PLAN
To protect your liabilities you pay US$ 500 annually in our SECURITY FUND at the time of registration. If there are no claims from any of the network member in the current year, then the said amount will be carry forwarded to the next year and you will not have to pay the payment protection for the next year. No single claim shall be upto US$ 20000 for a year. If there are any claims in the current year then the members who renew their membership for the next year shall have to pay the balance amount to make it US$ 500 as protection fee.
FUNCTIONING OF THE SECURITY FUND
Let us presume 100 members contribute to the Security Fund in a particular year.
100 members x 500 USD = 50,000.00 USD (Total Collection in the Security Fund)
Suppose a claim of 10,000.00 USD is paid in a particular year than the balance of 40,000.00 USD shall be carry forwarded to the next year SECURITY FUND which comes to around US$ 400 per member as the security fund. The member who renews his membership shall have to pay only 100.00 USD to make it 500.00 USD again as his contribution to the Security Fund for the next year.
The member who defaults his payments shall be terminated with immediate effect and none of his contributions to our company shall be refunded. He shall be Black Listed.
Our Security Plan doesn’t claim to pay the whole defaulted amount. However, we shall endure to see to it that you get maximum relief.
In case of big deals between the parties it is advisable to keep us involved.
*Logistic Leads Network keeps all the rights to judge the genuineness of the claim, and it shall be totally at our discretion weather to accept the claim or not.