: (1) In accordance with this regulation, the member organization can claim from the fund only the outstanding balance and interest amount up to the date of payment when claiming protection and compensation of the loan under protection.
(2) The member organization must make a claim to the fund within two years from the date of exceeding the repayment period of the loan secured by the fund. The Fund will not take any action on claims received after that period.
(3) When claiming compensation, the member organization shall submit an application to the fund in the format as per Schedule-14, attaching the following documents:-
(a) Details of loans for which compensation is claimed in the format as per Schedule-15, amended by the 7th First Amendment. (b) To recover the loan, which should be completed in accordance with the prevailing law (c) A copy of the inspection report on the financial condition of the business in which the loan was invested and the reason for the non-recovery of the loan,
(d) Copy of the complete statement of credit account (ledger).
(4) In addition to the documents mentioned in sub-rule (1), the fund may request any other detailed documents related to the loan from the member organization as required or may also conduct an on-site inspection to ensure that such loan has not been properly utilized.