The Claims Review - Issue 7, August 1998
ITIC RECOVERS US$30 MILLION
Marine intermediaries provide services to foreign companies, who are sometimes totally unknown to them. When left with a debt from a company on the other side of the world, obtaining payment can be extremely difficult, if not impossible. As an optional benefit to its Members (and at an additional premium) ITIC offers a comprehensive debt collection service. ITIC's staff, who have many years' experience in the field of international debt collection, will take over the collection of the debt and do whatever is possible, at the Club's expense, to recover sums due to the Member.
Since 1992 ITIC has been asked by its Members to collect more than 2,500 debts. By August 1998 the total recovered had topped US$30,000,000.
In this special edition of the Club's Claims Review, we hope to explain what ITIC can and does do to assist its Members, and what Members can do to help themselves.
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