This is addressed to all those ASA members that have still yet to reply to this very important subject
ASA PPP draft proposal to members
Dear ASA Members, we are delighted to propose the launch our ASA Payment Protection Plan (PPP) effective from the 1st January 2023 or possibly before subject to our members feedback.
The reason for putting our PPP scheme into place is because earlier this year was with payment problems with Atlas Bangladesh USD 30,000 luckily ASA collected this for our members. (Atlas is no longer a member of ASA-Network).
Now we have another situation with MTI Express in Morocco, which so far has not been completely resolved.
We therefore want to put forward a PPP scheme that will provide some payment protection to ASA members in the future. For this to be effective we need a PPP scheme that we can capitalise quickly.
The proposed ASA PPP scheme will be for an annual fee of € 200 p/a and to help build the fund quickly ASA will also contribute an extra Euros 200 into the ASA Trust fund for each ASA member when they join the scheme to be held for possible claims against payment defaults.
The joining date for each member will be when they renew their annual ASA membership as we will combine the PPP fee with the membership fee to avoid extra bank charges. However if a member wants to join the PPP scheme before their renewal date we can raise a separate invoice for PPP to be paid directly to the PPP Fund account and they will be covered for PPP from date of joining.
ASA has already opened a special trust fund bank account to only be used for this ASA PPP.
We have attached a full guide to the ASA PPP Scheme and its rules/cover with details how it will operate. To summarise key points, in the first year we will have to limit any individual claims to a maximum of € 5,000 but from the second year this will increase to € 10,000 per claim, and review thereafter.
We trust you will find this is a very good scheme which will offer significant protection against any possible bankruptcies or defaulted payments in the future. The cost is relatively cheap most other networks are charging in the region of USD 500 per annum for PPP.
But before we consider launching this PPP scheme for members and new members joining, we need to know from you if you want a PPP scheme and that you will join this scheme.
Please reply to Robert & cc Roy with your comments with answers to the two questions below.
- We want a PPP scheme – Yes/No
- We will join this scheme – Yes/No
Please let me have your replies as soon as possible
Many thanks for your help with this important issue.