Contract failure cover
Get compensated if you find yourself in a situation where the agency you’re working through or your end client doesn’t meet the terms of the contract that you have with them.
What is it?
Sadly, businesses can fall on hard times and be forced to shut their doors. In the event that the business going bankrupt or into administration happens to be your end client or agency your outstanding invoice with them will likely not get paid.
It isn’t fair, and not receiving the payment you’re owed can have serious consequences for you and your business.
That’s why we provide IPSE Director members with up to £10,000 if an end client or agency goes into administration without paying your outstanding invoices.
How does it work?
To claim for this benefit, you will need to fill out a claim form found on your member dashboard. The claim form will ask you to provide details on the situation, including proof that you have made an attempt to recoup the loss already from the owing end client or agency. Once your claim has been approved by Markel, you will have two options for recouping the outstanding invoices:
Option 1: Markel will take on the debt and pay you the amount you’re owed, minus a £250 fee
Option 2: You can wait for the administration to be complete and get the full value of your claim
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