GE Commercial Distribution Finance - inventoryinsurance

By: Commercial Distribution Finance  09-12-2011
Keywords: Commercial Distribution

GE Capital, Commercial Distribution Finance (‘CDF’) dealers are required to maintain adequate insurance coverage. One option dealers have is the Inventory Insurance Plan administered by Lockton Risk Services.

The coverage under this plan automatically adjusts as the value of dealers’ CDF-financed inventory fluctuates, as does the premium listed on dealers' CDF monthly billing statement.

Inventory Insurance Plan is administered by Lockton Risk Services. CDF’s billing and collecting services under Lockton’s program are being provided as an accommodation to CDF dealers and a service to Lockton, and CDF will not charge dealers any fees or interest thereon. In consideration of such services, CDF may collect a fee for its administrative services from Lockton. CDF dealers’ participation in the Lockton program is at the discretion of the dealers, and dealers may obtain insurance coverage elsewhere to satisfy their obligations under their loan agreements with CDF. CDF is not promoting, marketing or otherwise representing Lockton or the insurance carrier under the program to CDF dealers. CDF is not soliciting or negotiating insurance on behalf of dealers, Lockton or any third party.

Keywords: Commercial Distribution

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