Claims – An Overview

A Claim is a request for payment of a loss or damage, which comes under the terms of a commercial / insurance contract. Claims could be raised for the goods that are received in damaged condition or lost in transit. If the parts are not packed properly and are damaged in transit, then the claim is raised on the part supplier; if the parts are damaged or mishandled / lost in transit, then the claim is raised on the freight agency. Also, a claim can be raised on an insurance agency for general insurance or aircraft warranty or other contracts.

This component allows you to initiate a claim detailing the damages or loss information (if any) during inspection of the goods received and to register with the supplier. The claim is created with the details such as defects observed on the component, the supplier on whom the claim is raised, and the expenses incurred on the component. The expense and claim amount details are recorded, processed and released to the supplier. After creating, the claim is confirmed and released to the supplier for further processing. The released claims would either be accepted in full or partial by the supplier/insurance agency. The supplier can agree for the settlement of the claim, or reject the claim.

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