RORO SHIPPING VS CONTAINER SHIPPING. WHICH IS BETTER?

As a freight forwarder, Logical Maritime Services ships all kinds of cargo. One specific type of cargo that we pride ourselves on shipping well is automobiles.

As an international car shipping company, many people ask, “What’s the BEST way to ship a car overseas?” The answer will depend on what the objective is. 

When it comes to automobile shipping, you have two main options. You can ship your vehicle in a container or ship via Roll On Roll Off (RORO). But which option is better?

Both options can be used for your car, motorcycle, truck, or any other vehicle you need to ship internationally. It is important for your confidence to know that all vehicles are securely blocked, braced, and tied down ensuring absolute security during transportation.

RORO SHIPPING

RORO is the simplest and cheapest method of shipping for vehicles like cars, trucks, buses, heavy agricultural or plant machinery.

Vehicles are driven directly into the RORO vessel and secured to the car decks. They are securely inside the vessel, wind-and-watertight. It is important to know that you cannot ship personal effects using RoRo shipping method.

RORO overseas shipping is a very popular way of transporting cars to other countries. RORO carriers can handle not just cars but all types of motorized, rolling and even static cargo: trucks, boats, buses, motorhomes, trailers, RV-s, tractors, excavators, cranes, and other high & heavy agricultural equipment and machinery.

RORO shipping method is very popular mainly for two reasons: cost and simplicity. The vehicle is simply rolled on the ship at the port of loading and rolled off the ship at the overseas destination.

The only problem with RORO shipping is geographical coverage. While RORO transportation does have global routes, it is still not as all-encompassing as container shipping. Some smaller countries may not even have any options for international RORO transport. Our knowledgeable staff will be able to advise you on the availability of RORO shipping to the destinations of your choice. We'll make sure we find the option that is best for your shipment.

Container shipping can get you pretty much anywhere you want to go.

CONTAINER SHIPPING

This option should be selected for international shipping of valued vehicles. Shipping single cars in containers has a higher probability of reaching the destination without damages during the transportation.

Container shipping for transporting your vehicle provides the safest means of transportation to your overseas destination. Your vehicle is loaded inside the shipping container. Nylon straps are then used to tie your vehicle down and they are secured to the walls of the shipping container. Once your vehicle has been loaded into the shipping container, wooden braces are placed around each of the tires and nailed to the floor of the container.

A person can “share” a container with someone else to cut costs or get an “exclusive” container where the person can use the FULL container to ship items in addition to the car. Normally this is more expensive than RoRo.

HOW TO GET EXPORT ADVICE AND EXPORT TIPS

For companies making initial plans to export or to export in new areas, considerable export advice, export tips, and assistance are available at little or no cost. It is easy, through lack of experience, to overestimate the problems involved in exporting or to get embroiled in difficulties that can be avoided. For these and other good reasons, it is important to get expert counseling and assistance from the beginning.

This chapter gives a brief overview of sources of assistance available.

In general, however, the best place to start is the government institutions that deal with export and Commerce, they can not only provide export counseling in its own right but also direct companies toward other government and private sector export services.

Commercial banks

Good source of export advice and export tips are banks. Many banks have international banking departments with specialists familiar with specific foreign countries and various types of commodities and transactions. These large banks, located in major cities, maintain correspondent relationships with smaller banks throughout the country. Larger banks also maintain correspondent relationships with banks in most foreign countries or operate their own overseas branches, providing a direct channel to foreign customers. International banking specialists are generally well informed about export matters, even in areas that fall outside the usual limits of international banking. If they are unable to provide direct guidance or assistance, they may be able to refer inquirers to other specialists who can. Banks frequently provide consultation and guidance free of charge to their clients, since they derive income primarily from loans to the exporter and from fees for special services. Many banks also have publications available to help exporters. These materials often cover particular countries and their business practices and can be a valuable tool for initial familiarization with foreign industry. Finally, large banks frequently conduct seminars and workshops on letters of credit, documentary collections, and other banking subjects of concern to exporters.

Among the many services a commercial bank may perform for its clients are the following:

• Exchange of currencies.
• Assistance in financing exports.
• A collection of foreign invoices, drafts, letters of credit, and other foreign receivables.
• Transfer of funds to other countries.
• Letters of introduction and letters of credit for travelers.
• Credit information on potential representatives or buyers overseas.
• Credit assistance to the exporter's foreign buyers.

Export intermediaries

Export intermediaries are of many different types, ranging from giant international companies, many foreign-owned, to highly specialized, small operations. They provide a multitude of services, such as performing market research, appointing overseas distributors or commission representatives, exhibiting a client's products at international trade shows, advertising, shipping, and arranging documentation. In short, the intermediary can often take full responsibility for the export end of the business, relieving the manufacturer of all the details except filling orders.

Intermediaries may work simultaneously for a number of exporters on the basis of commissions, salary, or retainer plus commission. Some take title to the goods they handle, buying and selling in their own right. Products of a trading company's clients are often related, although the items usually are noncompetitive. One advantage of using an intermediary is that it can immediately make available marketing resources that a smaller firm would need years to develop on its own. Many export intermediaries also finance sales and extend credit, facilitating prompt payment to the exporter.

World trade centers and international trade clubs

Local or regional world trade centers and international trade clubs are composed of area business people who represent firms engaged in international trade and shipping, banks, forwarders, customs brokers, government agencies, and other service organizations involved in world trade. These organizations conduct educational programs on international business and organize promotional events to stimulate interest in world trade. Some 80 world trade centers or affiliated associations are located in major trading cities throughout the world.

By participating in a local association, a company can receive valuable and timely advice on world markets and opportunities for business people who are already knowledgeable on virtually any facet of the international business. Another important advantage of membership in a local world trade club is the availability of benefits - such as services, discounts, and contacts - in affiliated clubs from foreign countries.

Chambers of commerce and trade associations

Many local chambers of commerce and major trade associations provide sophisticated and extensive services for members interested in exporting. Among these services are the following:

• Conducting export seminars, workshops, and roundtables.
• Providing certificates of origin.
• Developing trade promotion programs, including overseas missions, mailings, and event planning.
• Organizing pavilions in foreign trade shows.
• Providing contacts with foreign companies and distributors.
• Relaying export sales lead and other opportunities to members.
• Organizing transportation routings and shipment consolidations.
• Hosting visiting trade missions from other countries.
• Conducting international activities at domestic trade shows.

In addition, some industry associations can supply detailed information on market demand for products in selected countries or refer members to export management companies. Most trade associations play an active role in lobbying for trade policies beneficial to their industries. Industry trade associations typically collect and maintain files on international trade news and trends affecting manufacturers. Often they publish articles and newsletters that include government research.

Chambers of commerce abroad

A valuable and reliable source of market information in any foreign country is the local chapter of our chamber of commerce. These organizations are knowledgeable about local trade opportunities, actual and potential competition, periods of maximum trade activity, and similar considerations.

Our chambers of commerce abroad usually handle inquiries from any domestic business. Detailed service, however, is ordinarily provided free of charge only for members of affiliated organizations. Some chambers have a set schedule of charges for services rendered to nonmembers.

International trade consultants and other advisers

International trade consultants can advise and assist a manufacturer on all aspects of foreign marketing. Trade consultants do not normally deal specifically with one product, although they may advise on product adaptation to a foreign market. They research domestic and foreign regulations and also assess commercial and political risk. They conduct foreign market research and establish contacts with foreign government agencies and other necessary resources, such as advertising companies, product service facilities, and local attorneys.

These consultants can locate and qualify foreign joint venture partners as well as conduct feasibility studies for the sale of manufacturing rights, the location and construction of manufacturing facilities, and the establishment of foreign branches. After sales agreements are completed, trade consultants can also ensure that follow-through is smooth and that any problems that arise are dealt with effectively. Trade consultants usually specialize by subject matter and by global area or country. For example, firms may specialize in high-technology exports to the Far East. Their consultants can advise on which agents or distributors are likely to be successful, what kinds of promotion are needed, who the competitors are, and how to deal with them. They are also knowledgeable about foreign government regulations, contract laws, and taxation. Some firms may be more specialized than others; for example, some may be thoroughly knowledgeable on legal aspects and taxation and less knowledgeable about marketing strategies.

Many large accounting firms, law firms, and specialized marketing firms provide international trade consulting services. When selecting a consulting firm, the exporter should pay particular attention to the experience and knowledge of the consultant who is in charge of its project. To find an appropriate firm, advice should be sought from other exporters and some of the other resources listed in this chapter, such as the Department of Commerce district office or local chamber of commerce.

Consultants are of greatest value to a firm that knows exactly what it wants. For this reason, and because private consultants are expensive, it pays to take full advantage of publicly funded sources of advice before hiring a consultant.

MEASUREMENT SIZES OF 40' REFRIGERATED CONTAINER

In this post, we explain about 40’ Refrigerated container which includes inner measurement and door opening measurement of 40’ Refrigerated container, volume capacity, tare weight and loading capacity of 40’ Refrigerated container.

    

What is the dimension of a 40’Refrigerated container?

What are the inner dimensions of a 40’ Refrigerated container (Interior dimension of a 40’ Refrigerated container)?

The inner measurement of 40’ Refrigerated container in millimeter, meter, and feet)

Length = 11679mm   (11.679meter or 38’ 4’’ or 38 feet 4inches)
Width = 2286mm  (2.286 meter or 7’ 6” or 7 feet 6 inches)

Height = 2211mm   (2.211 meter or 7’3” or 7 feet 3 inches)

What are the door opening width and door height of a 40’ Refrigerated container in mm, meter and foot?

The door opening width of a 40’ Refrigerated container is 2286mm (2.286meter or 7’6” or 7 feet 6 inches) and door height 2169mm (2.169meter or 7’ 1” or 7 feet 1  inches).

The cubic capacity of a 40’ Refrigerated container?
The cubic capacity of a 40’ Refrigerated container is 2083cuft   (59cu.m)   

  

Tare Weight of a 40’ Refrigerated container?
Tare weight of a 40’ Refrigerated container is 4100kgs   (9039lb)

What is the maximum Gross.weight of a 40’ Refrigerated container?
Maximum Gross.weight of 40’ Refrigerated container is 26380kgs  (58158lbs)

The information on measurement and weight mentioned may vary slightly from one brand owner to another.   Some of the top cargo container owners are NYK, Evergreen, CMA-CGM, Maersk, MSC, Hapag-Lloyd, APL, Cosco, Hanjin, CSCL.  You may reconfirm exact weight, measurement and other details from container owner or their agent.

EXPORT CLEARANCE PROCESS IN GHANA

Export procedures are grouped into two main categories - traditional exports and non-traditional exports.

TRADITIONAL EXPORTS

Commodities that are grouped under Traditional Export are:

• Cocoa Beans
• Logs
• Mineral Ore (e.g. Unprocessed gold)
• Electricity
• Fresh fish
• Fresh yam

N.B. This list could change depending on government policy.

CLEARANCE PROCEDURE FOR TRADITIONAL EXPORTS

1. Obtain Bank of Ghana Exchange Control Form A2 from your bankers
2. Declare your goods and submit to Customs through the GCNet/GCMS
3. Where the Customs point of exit is not connected to the GCNet/GCMS, you have to declare your goods on the Customs Single Administrative Document (SAD) Forms
4. Ensure to attach all relevant/required permits and/or certificates to your declaration to customs
5. After your declaration has been validated or accepted, present your goods to Customs to be examined against your declaration.
6. If Customs is satisfied with the examination, the goods would be released for export.

PROCEDURE FOR EXPORT OF NON-TRADITIONAL EXPORTS:

Commodities that are grouped under Non-Traditional Exports are all commodities outside the Traditional Export List.

• Where GC-Net/GCMS is not operational purchase a set of Ghana Customs Non-Traditional Export Forms at any Customs post. Complete the form (typed or hand-written) and attach all relevant documents, such as invoice (where necessary), permit or certificates; and present to customs for processing.
  Where GC-Net /GCMS is operational, the declaration would be submitted electronically. If the declaration is validated/accepted, the exporter is directed to present his goods to Customs to be examined physically against the documents. If Customs is satisfied with the examination, the goods are released for export.
• The shipper has the discretion to choose a shipping line and based on this preference relevant details on freight costs, transit times etc. provided by the shipping line after which a shipping note is issued upon payment of freight charges.
• Freight forwarder re-enters any additional information through GC-Net and prints out the declaration and heads to the long-room verification desk where a compliance officer is assigned. The compliance officer verifies the declaration and assigns an examination officer. Inspection is conducted at the loading bay by the examinations officer, Narcotics board and national security, after which the container is sealed.
• A waybill from the loading point and a counter waybill are used for port entry and GPHA/CEPS at the export shed are notified. An invoice is raised for the payment of handling charges and rent where applicable by GPHA billing officer. The waybills together with a photocopy of the declaration are submitted to shipping line representatives to check whether the seal and container numbers are the same as those on the shipping note. A shipping release is then issued.
• The shipping line raises a provisional bill of lading after certification by the forwarder or shipper. 72 hours after the vessel's departure the original bill of lading is issued by the shipping line. The forwarder/shipper returns to customs for post-shipment clearance.The original bill of lading is finally released to the shipper
• The procedure may have slight variations with different commodities

EXPORT DUTY

1. In Ghana, the following commodities attract duty:
   • Cocoa Beans
   • Hydrocarbon oils (e.g. Aviation fuel, Turbo, Kerosene)
2. All other exports attract zero (0) % duty

IMPORT CLEARANCE PROCESS AT THE PORTS OF GHANA

Customs clearance of cargo through the seaports involves dealing with a number of logistics service providers and governmental bodies in order to fulfil all contractual and tax obligations that might be associated with the import consignment. The agencies include Customs, the Port, other receipt delivery service providers, Shipping Lines and Agents.

Customs act 2015 act 891 section 43 enjoins all importers with the exception of Self-Declarants to engage the services of licensed Customs House Agents for the clearance of cargo at any freight station in Ghana.

The clearance process comprises;

• Declaration of cargo data on to the GCNET
• Customs Document Verification, System Validation, cargo Classification and Valuation, Risk Assessment and quality assurance, payment of duty, cargo verification.
• Release by the Shipping Agent,
• Delivery by the port and other receipt delivery service providers
• Customs physical examination or scanning of cargo before cargo is allowed to exit the port.

Obtain & submit IDF Form

The importer/agent obtains a complete (IDF) by submitting the suppliers invoice online through the GCNET system. In case the original invoice is not available the importer/agent may submit a pro forma invoice to obtain an incomplete IDF which can only be used to obtain letters of credit from the bank after which the actual commercial invoice, packing list, sea/air waybill or other shipping documents must be submitted to obtain the complete IDF to continue the process.

Document Verification by Customs

The IDF form with the final documents is electronically transmitted to the Customs Pre-Arrival Assessment Reporting (PAAR) System. The documents are reviewed, verified and validated for completeness and accuracy. The Customs Officer Accepts, Rejects or Refers.

System Validation by Customs

If all documents are compliant and accepted, the transaction is moved to the next phase of Valuation and Classification. Else if there are any anomalies detected i.e. Referral or rejection, Customs through PAAR submits a summary of documents online to Importer for "validation/declaration", highlighting the data anomalies.

Importer/Agent reviews documents and data elements and makes amendments Importer/Agent submits final reviewed documentation to Customs through PAAR.

Classification

Classification will be done using the Tariff uploaded in the system. Classification for sea, air and commercial transaction overland will be done at the Ruling Centre in Accra. Classification of new and used cars will also be done at the Ruling Centre.

Valuation

Valuation will be done in the PAAR system utilizing transactional data, however in instances where the price of an item cannot be found in the price database of the PAAR, appropriate documentation of the transaction will be sent to contracted experts for validation of the price of the commodities concerned.

Risk Assessment and quality assurance

PAAR performs a risk assessment on the transaction and automatically assigns risk levels in real-time to consignments with an appropriate level of intervention. Customs performs quality checks and final assessments for PAAR generation. PAAR is generated and relevant reports issued to:

The importer (with a unique barcode for authentication)

• GCNET
• The relevant Government Agencies
• The Scanning System.

Importers need to submit the Final Invoice, Import Declaration Form (IDF), a copy of the Bill of lading (if it is available) and the Packing List (itemizing the value of the packages) on all commercial imports prior to the arrival of cargo to the designated Destination Inspection Company for the preparation of the Customs Classification and Valuation Report (CCVR). The CCVR contains an assessment of the Dutiable Value, Import duty and VAT on the consignment.

Containerised cargo selected for scanning through the Risk Management System is also indicated in the CCVR. Importers of personal effects are required to send the packaging list and bill of lading on their cargo to the Customs long Room for the assessment and valuation on the arrival of the cargo.

Importers of used vehicles are required to fill a manual form and attach their bill of lading, bill of purchase or deed proving that vehicles were acquired legally as well as Chassis number of the vehicle submit to the customs office at the Port to obtain the computation of the value of their vehicles.

Entry Of Cargo Data Onto Gcnet

The Customs House Agent submits a customs declaration on the cargo (from information derived from the various documents) electronically to the GC-Net which is routed to the Ghana Customs Management System (GCMS). When the entry is validated, the GCMS generates and sends a response commonly referred to as a Declaration of the front end of the declarant. The Declaration indicates all the taxes and tariffs that have to be paid for the consignment. In addition, the name of the CEPS officer to verify the declaration at the Compliant Section of customs is indicated in the Declaration.

Payment Of Duty

Upon receipt of the validated Customs Declarations at the front end of the declarant, the declarant prints a hard copy and signs it. The custom house agent submits the signed Customs Declaration and attach all supporting documents like the Bill of Lading, the Invoice, the IDF, the CCVR, the Packing List, an IRS Certificate as well as other relevant permits and documents at either ECOBANK or Ghana Commercial Bank to make payment of the amount indicated in the declaration. Special Bank Receipts are given to custom house agent to acknowledge payment.

Verification

A hard copy of the Declaration, the Bank receipt, and Bill of Lading and all other relevant attaching documents are submitted to the designated Officer at customs Compliance Section for Verification. When no discrepancy is found, the cargo is ruled for immediate release or physical examination pending final release. The message is then sent to the relevant shipping agent to release cargo for the next procedure.

Release Of Cargo

Shipping line agent release of cargo by issuing Delivery Order. The Customs House Agent copies of the Customs Declaration, the Bank receipt, Delivery Order and original Bill of Lading and all other relevant documents to the Receipt Delivery Service Provider for payment of handling and other charges after which the cargo will be positioned for examination and delivery.

If the information on the declaration and what has been physically examined agree, the customs officer would release the cargo on the declaration and electronically send via the GCNet to the GCMS that the cargo is released. After this, a Delivery Tally Sheet or waybill would be issued by the Receipt Delivery Service Provider to enable the cargo to be loaded onto a truck and exit the port. Finally, all clearing documents are presented to Customs at the exit gate to confirm (using the GCNet )if they have released cargo and copies of waybill (DTS) to GPHA Security and Police detailed at the gate to inspect and allow exit as appropriate.

IS THERE A FUTURE FOR ELECTRONIC BILL OF LADING?

The Bill of Lading is one of the most important documents in global trade and has been around for many years.

The paper form of the bill of lading is still the leading form and is most commonly used when a Bill of Lading is issued as a Negotiable instrument (Ocean Bill of Lading).

Is there space in the shipping world, however, for an Electronic Bill of Lading?

Some may argue that there is already an Electronic version of the Bill of Lading and that is the Seaway Bill of Lading.

A Seaway Bill of Lading which is also issued by the shipping line is neither negotiable nor signed and it does not require presentation of any negotiable paper document for delivery at destination and is generally circulated by email.

Also, a Seaway Bill of Lading only fulfils two of the 3 roles of the Bill of Lading

1) Evidence of Contract of Carriage and 

2) Receipt of Goods. 

It does not fulfil the role of Document of Title which is one of the key roles of a bill of lading when issued as a Negotiable Document.

So the question is whether there is space in the shipping world for a Negotiable Electronic Bill of Lading which is electronically signed by the carrier and may be printed at the office of the shipper or freight forwarder.

In October 2015, BIMCO introduced some major revisions to the NYPE (New York Produce Exchange) Time Charter Party which includes the issuance of Electronic Bills of Lading covered under below clauses

32. BIMCO Electronic Bills of Lading Clause

(a) At the Charterers’ option, bills of lading, waybills and delivery orders referred to in this Charter Party shall be issued, signed and transmitted in electronic form with the same effect as their paper equivalent.

(b) For the purpose of Sub-clause (a), the Owners shall subscribe to and use Electronic (Paperless) Trading Systems as directed by the Charterers, provided such systems are approved by the International Group of P&I Clubs. Any fees incurred in subscribing to or for using such systems shall be for the Charterers’ account.

(c) The Charterers agree to hold the Owners harmless in respect of any additional liability arising from the use of the systems referred to in Sub-clause (b), to the extent that such liability does not arise from Owners’ negligence.

According to BIMCO, Bills of lading produced in electronic format are designed to replicate the purposes and processes (such as endorsements or reservations) of their paper equivalent so as to offer “functional equivalence”.

Electronic bills can, if required by parties in the trading chain, be replaced by paper bills of lading at any point.

In practical terms, while the electronic bill of lading systems do not entirely eliminate the problem of cargoes arriving at discharge ports before bills of lading, their use should result in a significant reduction in the number, and associated risks, of LOIs voluntarily issued by owners.

Although the above is mainly for dry bulk cargoes covered by Charter Party, encouraged by this, could more shipping lines and customers in the container shipping sector opt for Electronic Bill of Lading?

Is there a future for an electronic bill of lading in the container trade where there are more chances of fraud and forgery?

Are the shipping lines and customers ready to accept and use electronic bill of lading?

WHY YOU SHOULD CONSIDER OBTAINING INSURANCE FOR YOUR SHIPMENT

When you plan on sinking your hard-earned startup capital in your first shipment, you should consider obtaining insurance. The risk of damage or loss caused by mishandling or weather conditions is higher than you might imagine. Even if a ship arrives safely in port, most damages to goods occur en route. It is reported that 30% of all freight damage in transit is unavoidable. However obtaining cargo insurance can protect your financial investment and bring you some easy and cost-effective peace of mind.

Perils of the Logistics Chain

Your goods will pass through many hands on its way to you, from loading and unloading from trucks and containers, through ports, exam sites, and warehouse after warehouse.  Each step is necessary for your merchandise to ultimately reach you, but having your goods move through so many checkpoints increases the chance of damage.

Then, unfortunately, if damage does occur, based on the fine print of most shipping agreements, the burden to prove that the carrier was at fault is placed on you. You must definitively prove that:

1. Loss occurred while the shipment was in the carrier’s care, custody, and control
2. The carrier was negligent in handling your shipment

Note: This proof usually consists of a shipping receipt or Bill of Lading with damage noted on it. Always check the condition of your goods before signing a receipt. A receipt without any damage to or loss of goods noted is called a clean receipt. If you sign a clean receipt, your carrier will deny liability.

However, even if you are able to prove that the transporter was at fault, you may still not get the full value of your goods. Carriers strictly limit their liability. If you turn over any Bill of Lading, for example, a FedEx or UPS tag, you will find the fine print outlining exactly what a carrier agrees to cover.

Does your seller really insure your shipment under CIF?

Yes, but that doesn’t mean that they will refund you or send you a replacement shipment! CIF (Cost, Insurance, and Freight) terms specify that handling an insurance claim falls on you.  This could entail:

• Seeking reimbursement from an overseas insurance company, under a policy into which you have no visibility.
• Determining who pays the difference from the deductible with the vendor.
• Arguing with an insurance company whose fine print is rife with loopholes.

Be in control of your destiny!

If your shipment has already left, ask your supplier for a complete copy of the insurance policy and the insurance certificate detailing the policy terms and conditions. In addition, you should request a list of the local insurance claims adjusters contracted by the insurance company, so that you have their contact information handy, if necessary.

Then read through the fine print and contact the local agent to determine the claim and settlement process.  Find out if they generally settle the claim locally or back at their home office overseas.

If nighttime reading of the fine print distracts you from building your business, request your vendor to change terms to CNF, “Cost and Freight,” and credit you for the insurance cost.  Then you can contact your own preferred insurance company or transportation provider to get a quote for insurance on your terms.

Even if your shipment has already left and the shipper didn’t insure the cargo, there’s still time to insure your cargo.  Most forwarders will insure your shipment as long as it is en route, and you call them right away to get a quote to cover your investment.

Peace of Mind is Easy & Affordable!

Insuring your shipment is surprisingly affordable, with costs typically starting with low minimum fees and at less than 0.50% of cargo value. The cost of insurance ranges by country of origin and mode of transportation. The riskier the freight and shipment, the higher the premium – much like getting car insurance for a teen driver.

Typically coverage is available through a single call to your transportation provider. When considering cargo coverage, be sure to address the following points and related questions to determine if your needs are covered:

• Locality:
  • You do not want to chase your money from an overseas company that may not speak your language.
  • Are their surveyors close to you? If the underwriter chooses to survey your damaged cargo, it’s important that they can get there fast!
• Credibility:
  • What is the financial rating of the underwriter? Some overseas firms have been offering very good rates, but bad at paying claims and shutting down when hit with large claims. 
  • Is their adjuster and surveyor networks approved by Lloyd’s of London and AIMA, two worldwide reputable insurance agencies?
• Customer service:
  • What is your forwarder’s process for helping you gathering all evidence and documentation to fulfill the underwriters requirements? This step most frequently delays settlement of a claim.
• Speed:
  • How long does claim settlement historically take? If the documents are in order, the money should be back in your pocket in 30 to 90 days.

While damages may happen, financial loss can be minimized. Take control of your own destiny, at least, when it comes to insuring your shipment. It is easier and more affordable than you might think.