Gold Medallion Financial Protection « Back to overview
Every single member of Lognet enjoys the luxury of conducting business with any other registered member office with complete confidence, security and peace of mind. Learn how Gold Medallion Financial Protection has coverage up to US$2,000,000.
Lognet Global realises the importance of minimizing risk in business and in doing so, developed the Gold Medallion Financial Protection. Under this plan, transactions between any enrolled Lognet member offices are covered in case of non-payment by another Lognet global member for up to; US $100,000. The maximum to be paid in claims in any twelve month period shall not exceed US $2,000,000.00. Thereafter, claims will be paid in the order in which they are received.
In the case of transactions between members of Lognet Global, the maximum covered is USD100,000; in the case of transactions across WCA networks (e.g. between a WCA member and a Lognet Global member), the maximum is USD25,000. Lognet Global protects against money lost due to non-payment of invoices for the handling of transactions between Lognet Global member companies. This security structure provides members with a safety net and permits all members to work with one another with peace of mind and compete financial security. It is not a credit facility.
For full details on the Gold Medallion Financial Protection, please login to member section.