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How shall I allocate the payment received after the cancellation or expiry of the credit limit?


Unless otherwise agreed by HKECIC, any payment, whether or not relating to the insurable contracts, received after cancellation or expiry of the credit limit on any buyer/ client shall be deemed to reduce the outstanding amount which has fallen due first even though the buyer/ client may have indicated that the payment was in settlement of an outstanding amount falling due at some later date or even such payment was not in respect of the insurable contracts.

Non-Payment and Claims