Slow Payers

Slow Payers – rules for invoices issued as of 01 January 2013

• To be protected under the Payment Protection Plan every Affiliate needs to report outstanding invoices when they are still unpaid 90-120 days after invoice date.
• Reporting after 120 days is no longer possible.
• Reporting prior to 90 days after invoice date will only be accepted if the debtor is terminated from FIDI.
• FIDI will automatically intervene for every reported invoice. It’s therefore no longer possible to ask FIDI not to intervene.
• FIDI will provide the slow paying Affiliate with a monthly report on unpaid invoices together with a notification to deal with them within 30 days and in any case before the invoices are 150 days past invoice date.

For any unpaid invoice older than 150 days past invoice date, FIDI will ask the slow paying Affiliate for a cash deposit related to the size of the outstanding amount.

Outstanding (EUR)      Cash Deposit (EUR)

< 25,000                    5,000

> 25,000 - 50,000       15,000

> 50,000 - 75,000       25,000

> 75,000 - 100,000     30,000

> 100,000                 30% with a 50,000 minimum

If a reported invoice remains unpaid after 240 days past the invoice date, the Affiliate is automatically terminated from FIDI. After the termination of the slow payer the Payment Protection Plan starts.