What to do on a monthly basis:
Submit your 60 days past due spreadsheet to 60days@cofaceza.com by the 5th day of the following month. Even if you have made a payment arrangement with the debtor this must be done to avoid compromising your claim.
If the debtor still has not paid 30 days after your 60days notification (or as stipulated on your contract) submit your fully completed and signed claim form with all supporting documentation to collections1@cofaceza.com
Supporting documentation includes:
• Invoices and POD’s relating to the claim – this should match the claimed amount on your claim form. (Note that POD’s are not required for claims under R50K)
• Statements for the period of trade, as well as 12 months prior to the default. In the event that you have not traded with the policy holder for 12 months prior to the default, a confirmation of this should be sent.
• A copy of the credit application
• Copies of any communication between yourself and the debtor regarding the overdue debt
• Copies of any dishonored cheques
What happens once the claim is submitted to Coface:
Within 3 days you will receive an acknowledgement from Coface Collections department to confirm that they have received your claim and are processing.
The documentation is simultaneously sent to the Claims department where it is captured and distributed to an assessor. The assessor will also send an acknowledgement to you to confirm that they have received your matter and advise you of the date it will be due for payment if Coface has not been successful in collecting the full amount on your behalf. The assessor may also request additional / missing documentation from you. This is required so that we can assess the claim immediately and advise if there are any queries upfront. If there is a problem you will therefore be made aware immediately.
What if I do not want Coface intervention immediately?
It is important for you to follow the notification and submission procedures in order not to jeopardise your potential claim. Coface will hold off with collecting or with the claim payment at your request, however the process must still be followed.
What happens when the claim is due to be paid?
In the month that you claim is due to be paid, Coface will send you a proposed indemnity (Settlement of claim and cession) which details our calculation and proposed settlement figure. Once you have read this and agree, you sign initial and sign the document and send this document with your original signature back to Coface (copies not accepted). We will then process the payment within a week. Note that if there is still information outstanding or the claim is disputed, this payment will be delayed.
Who can I contact if I have a query about my claim?
Claims Manager
Robert Grobbelaar
+2711 208 2727
robert_grobbelaar@cofaceza.com
Claims Technical Specialist
Lucien Bush
+2711 208 2557
lucien_bush@cofaceza.com
