About the RPP
Benefits of the RPP
The RPP provides three benefits:
- Unpaid Invoice Compensation: IAM shall compensate IAM Governing and Core Members if they are owed outstanding monies by another IAM Governing or Core Member that has filed for bankruptcy or has ceased to exist. IAM Governing or Core 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 Governing, Core, and Supplier 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 Governing, Core, and Supplier Members will now 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 Governing and Core Member - $294.52 USD / Member
History of the RPP
The IAM Receivable Protection Program (RPP) was established in 2007 originally as a process through which an IAM member in good standing could recover unpaid funds/invoices stemming from commercial shipments (U.S. Department of Defense and other U.S. Federal Government agencies were not covered) owed to them by another IAM member. This feature of the RPP is now referred to as Unpaid Invoice Compensation.
At its inception, the RPP was set up as an optional program by which IAM Governing, Core, and Supplier Members could participate, but it was not included as a benefit of IAM Membership.
In 2011, the RPP was expanded so that it included the Outstanding Invoice Intervention Process, which provided IAM Governing, Core, and Supplier Members with a step-by-step intervention procedure through which IAM Staff would attempt to facilitate the resolution of the outstanding debt. IAM Governing, Core, and Supplier Members who did not participate in the RPP could request staff intervention through the Outstanding Invoice Intervention Process if the debt was at least USD $10,000. As part of this process, IAM began the monthly circulation of the Alleged Debtor List, which details the IAM Governing, Core, and Supplier Members who have been alleged to not pay outstanding invoices owed to other IAM Members.
Starting on January 1, 2015, IAM included the RPP as a benefit for all IAM Governing and Core Members. With this change, all IAM Governing and Core Members in good standing can submit claims for Unpaid Invoice Compensation, request IAM staff intervention if they are owed money by another member, and receive the Alleged Debtor List each month.