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The Quest
Special Quest Edition

Jan. 4, 2011

              
Avalon implements customer feedback to billing process
 

Avalon wishes you a Happy New Year! To kick off 2011, we are excited to announce several enhancements to our billing process. You spoke and we've listened. Based on your suggestions, we have further streamlined the issuance of our invoicing process and are implementing the following improvements, effective Jan. 6, 2011:

Timeframes to receive invoices and/or monthly statements
If you prefer receiving invoices for your bond and cargo transactions vs. a monthly statement of activity, you will
now receive invoices on a weekly vs. daily basis; invoices will generate every Monday for the prior week's activity. If you receive a monthly statement for your bond and cargo activity, you will continue to receive your statement on the same day of each month. Your annual insurance policies will continue to be invoiced as they are bound. These timeframe changes do not alter Avalon's existing 20-day payment terms, we are simply providing an easier way to reconcile your invoices. Click here for a summary of our existing payment terms for your easy reference. 

Electronic Invoices and Available Formats
Avalon continues to offer electronic invoices since first announced in our Jan. 30, 2009 Special Quest. You can now decide how to receive your Avalon invoices and/or statements electronically. We can e-mail invoices in PDF, Excel or both file options, or continue to mail hard copies of your invoices or statements, if desired. A non-editable PDF supports the Sarbanes-Oxley Act regulation, and an editable Excel format allows you to input the invoice into your own accounting system. In addition, when items are paid before an invoice is generated, the item will still appear on your invoice, and will note $0.00 due with the original premium for better recordkeeping. We also support flexibility in our invoice distribution. If you would like to change who receives Avalon's invoices, please contact your local Avalon representative or your Accounts Receivable representative. In addition, we also allow for wire and/or ACH payment options, as originally announced in our April 20, 2010 Special Quest.

Past Due Notice
When applicable, a Past Due Notice will be sent on the fifth of the month or on your statement date. The Past Due Notice is an easy-to-read summary of unpaid premium, unapplied cash and/or unused credits. Past Dues will no longer be included with newly billed items.

Courtesy Notice of Intent to Cancel
As also announced in our Jan. 30, 2009 Special Quest, Avalon distributes a Courtesy Notice of Intent to Cancel 10 days before we anticipate the insurance company may cancel your bond and/or insurance policy for non-payment of premium. This process is designed to protect your business from a dangerous lapse in coverage by providing an early warning that your bond(s) and/or policy payment(s) are overdue.

Going forward, when a Courtesy Notice of Intent to Cancel is sent to you, the e-mail will also attach your original invoice. This will begin in early February. Please note, insurance companies also monitor the number of cancellation notices a client receives. Repeated cancellation notices for non-payment of premium may force insurers to require any remaining premium be paid in full or deny reinstatement of your surety bond and/or insurance policy.

Avalon Risk Management is proud to be an innovative organization that regularly implements customer feedback. As always, Avalon continues to offer electronic invoicing options for our customers and strives to continually enhance the products and services we offer you. We are a premier provider of innovative insurance and surety solutions for logistics providers.

                    
For further information, contact your local Avalon representative or  or e-mail
ARM-Operations@avalonrisk.com.
Contact information for your local Avalon office may be found at www.avalonrisk.com/contact.
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Avalon Risk Management
   
150 Northwest Point Boulevard | 4th Floor | Elk Grove Village, IL 60007
Phone: (847) 700-8100 | Fax: (847) 700-8116

www.avalonrisk.com

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The Quest newsletter is published quarterly and is designed to provide critical information to the transportation and logistics industry. Subscribers to The Quest also benefit by receiving policy change notifications, special industry information bulletins, and notifications of upcoming conferences. Avalon Risk Management is not responsible for the accuracy or reliability of information contained herein. The reader/user assumes all risk in the use of such information. Privacy Policy

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