About the RPP
Benefits of the RPP
The RPP provides three benefits:
- Unpaid Invoice Compensation: IAM shall compensate IAM corporate members (Premium, Core and Value) if they are owed outstanding monies by another IAM corporate member that has filed for bankruptcy or has ceased to exist. IAM members must file a claim for Unpaid Invoice Compensation no later than 120 days past the date of its issuance for the invoice to be potentially eligible for Unpaid Invoice Compensation. Learn more about the specific provisions for the Unpaid Invoice Compensation benefit.
- Outstanding Invoice Intervention Process: IAM corporate members are able to request IAM Staff intervention on any claim greater than USD $3,000 owed by another IAM member, provided that the alleged debt is at least 120 days old. Learn more about the Outstanding Invoice Intervention Process.
- Alleged Debtor List: IAM corporate members receive the IAM Alleged Debtor List each month, which details the IAM members who are allegedly delinquent on payments owed to other IAM members. Learn more about the Alleged Debtor List.
Value of the RPP
- 2015 Unpaid Invoice Compensation Payout - $81,618.63 USD
- 2016 Unpaid Invoice Compensation Expected Payout - $192,890.50 USD
- Total Resolved through IAM Intervention on Debts - $321,890.27 USD
- Total Value of RPP - $596,399.40 USD delivered to members since implementation
- RPP Value per Member - $294.52 USD / Member