Page 10 - Personal Underwriting Mandates & Guidelines - Binder product rules & addendums - Version 1
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7.1
7.2
The Broker is responsible for requisi oning the cheques/EFT payments payable to VAT/non-VAT Vendors.
7.1.1 If the invoice has VAT included in the amount, calculate the VAT implica on and show the two amounts separately. VAT = 15/115 of total amount, for example on an amount of R228:
On receipt of a request for payment the following procedures should be followed:
7.2.1 On all invoices:
7.2.1.1 check that the amount on the invoice is as authorised;
7.2.1.2 check that suppor ng documenta on is a ached;
7.2.1.3 check that the release/discharge is a ached; check that the release/discharge has been signed by the Insured or the nominated representa ve;
7.2.1.4 ensure that a valid tax invoice was received if the supplier is registered for value-added tax;
7.2.1.5 if the above requirements are not met, advise the panelbeater/supplier/assessor, giving details of the problem being experienced;
7.2.1.6 for motor repair invoices, all addi onals have to be checked and queried, the loss adjuster or assessor has to sign this o  as well;
7.2.1.7 ensure the correct VAT numbers (if applicable) are on the invoices.
7.2.2 For repairs:
7.2.2.1 check to see that the documents are correct and in accordance with the le er of authorisa on for that par cular claim;
7.2.2.2 check to see that the nego ated discount has been applied by the creditor according to the list of pre-arranged discounts;
7.2.2.3 run through the claims checklists for the main underlying claim;
7.2.2.4 ensure that the invoice complies with the guidelines as in 7.2.1 above.
7.2.3 Write-o /The /Hi-jack
7.2.3.1 Upon receipt of the signed Agreement of Loss/Discharge form/Approved calcula on, the Broker is to ensure that the deregistra on cer  cate as well as all other documents that might have been requested, are on  le.
NOTE: The cheque requisi on should not be approved by the authorised signatory unless all the requested documents are on  le, especially the deregistra on.
7.2.4 Ex gra a payments
7.2.4.1 On receipt of the signed ex gra a Agreement of Loss, ensure that all condi ons which may have been s pulated in the ex gra a Agreement of Loss have been complied with.
NOTE: Ex gra a payments are non-VAT-rateable, zero rated.
General Procedures
6.14 Are there any recovery prospects to consider on this ma er?
6.15 Remember always to communicate correc ve underwri ng sugges ons made by the loss adjuster and to adjust the policy with applicable NCB and/or Endorsements a er a claim where the need for this becomes apparent, for example delete cover, upgrade cover, upgrade security, change address, change underwri ng details on  le. (Refer to the relevant underwriter)
6.16 The second page of a property loss claim form o en requires the client to state and list speci cally what he is claiming for. Please make sure the client has completed this as well.
7. CLAIM PAYMENTS
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Binder Claims Mandates and Guidelines – 2015/2016
VAT = 228 X 15/115 Therefore VAT = R30


































































































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