Frequently Asked Questions (FAQ) on UPU*Clearing
What is UPU*Clearing?
UPU*Clearing is an efficient and low-cost means of settling international postal accounts.
How does it work?
The system is accessible online via an Internet portal. It is a receivables-driven system, meaning that the creditor bills the debtor. UPU*Clearing consolidates transactions and calculates settlements. Payments are centralized, with just one monthly payment for each debtor.
What is the monthly compensation cycle?
What does it cost?
The yearly membership fee is based on the contribution classes used for the UPU's regular budget.
|UPU*Clearing contribution class||Regular UPU budget contribution class||Annual Contribution in CHF|
Who will teach us how to use it?
Training and continuous support is provided by the UPU*Clearing Secretariat.
How will the system save my operator money?
As payments are centralized, there are fewer movements of funds and, consequently, less banking fees. Additionally, collection is guaranteed, meaning that there are no related collection fees, and as most of the work is done by the Secretariat, there is a reduction in administrative work for the local finance team.
What makes UPU*Clearing secure?
The system is accessible via an Internet portal using a username and a password managed by the UPU*Clearing Secretariat. Only transactions related to the operator are visible.
Not all my partners use UPU*Clearing. Why should I join?
The benefits of UPU*Clearing can already be enjoyed as soon as the operator starts using it, even if the number of partner members is low. Benefits then increase when more operators join the system.
How can I be sure other members will make their payments on time?
Payments are closely monitored by the Secretariat. Since the launch of the system in 2003, there have been no cases of non-payment. Only operators who can give their 100 per cent commitment to make the payment in accordance with the payment terms are accepted into the UPU*Clearing User Group. In some cases, a deposit may be required and used for payment as necessary.
Is UPU*Clearing the same as PPS*Clearing?
UPU*Clearing is a system for the settlement of international postal accounts. There is a monthly compensation. PPS*Clearing is used to settle postal payment services. There is a weekly settlement.
What is the UPU*Clearing User Group?
The UPU*Clearing User Group is a body established under the UPU Postal Operations Council (POC) and is regulated by its own rules of procedure. The clearing system itself is also governed by specific clearing rules. The group is composed by the General Assembly and the Steering Committee.
The General Assembly meets once a year and is responsible for the election of the Steering Committee, taking strategic decisions concerning the activities of the UPU*Clearing User Group, and approving the UPU*Clearing User Group accounts and budget.
The Steering Committee is composed of five persons elected ad personam from among ordinary members of the UPU*Clearing User Group. One of its functions is to report annually to the General Assembly and the POC. The Steering Committee also submits the budget and accounts to the General Assembly and prepares the agenda for each meeting of the UPU*Clearing User Group in consultation with the Secretariat.
How do I sign up for UPU*Clearing?
The process for joining is very quick and practical. The Secretariat can provide the membership forms. Once these are completed, an invoice is issued. When payment is received, the Secretariat provides training using the test system. Activation of new members can be done straight away, though it is preferable to activate new members at the start of a monthly clearing cycle.