To insure that all Districts and Clubs of Optimist International meet their financial obligations and that all outstanding indebtedness (accounts receivable) remain at an acceptable level, as determined by Optimist International, the following credit policy has been established.
Terms and Conditions:
Dues, Fees, Insurance, and Other Indebtedness
All invoices are due on receipt.
All clubs are subject to the terms and conditions as established in OI Bylaws which is: "Any Club more than 90 days in arrears for any indebtedness to Optimist International or to the District of which it is a part, shall be considered not to be in good standing and may have its charter revoked by action of the International Board of Directors. The Board of Directors may restore such a Club to good standing upon payment of its indebtedness to Optimist International and to the District in which the Club is located.”
Credit Limits:
Dues, Fees, Insurance, and Other Indebtedness
There are no specific dollar credit limits for dues and fees. All clubs shall continue to be billed by Optimist International in the amounts and timely as established in OI Bylaws, until suspension and/or revocation has occurred.
Notifications:
Notices will be sent by the Accounting Department to the Club President, Club Secretary-Treasurer, District Lieutenant Governor, District Governor, District Governor-Elect, and District Secretary-Treasurer when unpaid balances become 60 days past due, including information about the impending revocation of the Club’s Charter, thirty (30) day moratorium to respond, and ACH registration.
Notices will be sent by the Accounting Department to the Club President, Club Secretary-Treasurer, District Lieutenant Governor, District Governor, District Governor-Elect, and District Secretary-Treasurer, and Regional Vice President when unpaid balances become 90 days past due, including information about the impending revocation of the Club’s Charter, thirty (30) day moratorium to respond, and ACH registration.
When the Executive Director determines that any balance dues from a revoked or disbanded Club is uncollectible, it shall be written off to Loss on Uncollectible Accounts.
Districts' Responsibility:
District Governors have access to the Aging Receivable Report through the password protected website. They are requested to assist the International Office in the collection of past due club accounts.
Clubs who have not responded and/or made arrangement otherwise for past due accounts shall be revoked into the year in which the debt was incurred.
For Awards Purposes:
For awards purposes all clubs in the Zone (Lt. Governors) or in the District (Governors) must have paid their financial obligations to Optimist International received no later than September 30. Financial obligations shall include all dues, fees, premiums, and supplies invoiced on or before August 31 of each year.