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UPDATED – WCAworld Financial Protection Program Does Not Cover Charters
24 Aug, 2021
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UPDATED - WCAworld Financial Protection Program Does Not Cover Charters
Dear Members,
Please note the updated clause below related to coverage of breakbulk shipments.
Due to previous financial claim cases related to air/sea Charters where values and risks are much higher than usual forwarding cases, WCAworlds financial guarantee program no longer covers air/sea charters or Part-Charter costs between members. Credit terms for charter shipments are inherently riskier for forwarders and should be entered into with caution, if at all. If a member asks another member to arrange a shipment that requires a full or part-charter agreement, signed by one or both members, WCA will not cover such shipments.
WCAworlds financial guarantee does cover normal door-to door-charges of origin/freight/destination services (excluding storage/demurrage/fines/duties/taxes) to $100,000 between any two WCA Projects members.
Please review the latest WCAworld Gold Medallion terms & conditions with your sales & finance teams to ensure clear understanding of this valuable benefit. You may download the latest GM Terms in the Members Section when you sign in with your user name/password.
If you have any questions or suggestions, please contact me.
Best Regards,
Bruce Cutillo General Manager
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