We, at IDA Risk Management, would like to thank all our Dealer Members for their support and co-operation thus far.

The implementation, however, did not go as smoothly as expected. This is because dealers using electronic platforms did not update their information in relation to Value Added Products, Financial Service Provider info, Compliance Officer information, and contact details. This caused several system failures and much frustration between Dealers and Finance Houses and/or Banks.

Dealers who are still experiencing technical problems are requested to contact their product supplier, electronic platform of choice, or Financial Service Provider for assistance.

A caution to Dealers using split premium invoice facilities: please ensure that the financed insurance premium is not included in your vehicle pay-out, as this will be a contravention of the short-term insurance act. This applies if you are not authorised to collect premiums.