Protect your bottom line with our Shipping Claims Management services
Navigating the Challenges of Tightening Financial Margins in the Cargo Industry
If your work woth cargo you must be facing significant challenges that are affecting the financial margins of companies operating in this sector. These challenges include:
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- Managing Costs: The cost of goods, transportation, and other expenses associated with international trade can be high due to factors such as fuel prices, tariffs and taxes, and labor costs. This includes identifying areas where costs can be reduced, such as through efficient logistics, reducing waste and excess inventory, and negotiating better prices with suppliers.
- Increasing Efficiency in your operations: This includes streamlining processes, automating tasks, and implementing new technologies to reduce lead times and improve productivity.
- Managing Risk: identifying and mitigating potential risks associated with trade such as currency fluctuations, political instability, and supply chain disruptions.
To address these challenges, claims management is a key strategy, but it can be a complex process. As such, traders may encounter difficulties such as:
Time constraints
Key to success in claims management
- To submit a cargo claim you need to provide all the necessary information and documentation in a timely manner.
- Avoiding time-barred marine claims is of the utmost importance.
- Negotiating and resolving disputes with carriers, insurers, and other parties can also take time.
Lack of effective management
The importance of a strong team for success
- You need skilled claims handlers for an efficient and successful response from the start.
- The ups and downs of claims volumes put your staff capacity to the test.
- Your team is constantly occupied with urgent tasks and is unable to focus on more complex cases or maintain relationships.
Limited marine knowledge
Processing a marine insurance claim requires:
- Having access to reliable and accurate technical evaluations of the cargo
- A deep understanding of international maritime law.
- A global network of professional partners, allowing you to deal with authorities in different jurisdictions.
Dealing with Cargo Claims in International Trade
In marine cargo claims we find 3 keys Global Trends you must to keep an eye on:
Unless you have a thorough knowledge of the legal nuances that may shift liability from one stakeholder to another, you may end up paying for someone else’s mistake.
Preparing for the Unexpected: Shipping Cargo comes with a Set of Specific Risks and Obligations.
Including but not limited to:
Quality control issues
Due to insufficient packaging of the cargo, bad stowage, inadequate ventilation, among others.
Theft or vandalism
Due to containers going overboard or theft while in your custody
Weather-related events
Due to the receiver’s insolvency, delays or issues related to the sales contract.
Reefer malfunction
Due to incorrect documentation being submitted to the customer or filed with customs.
Limited capacity on cargo ships and planes, as well as at ports and airports, can lead to delays and additional costs for companies.
Excessive transit time
If you release cargo to the consignee, but the shipper hasn’t been paid yet and is holding the original HBL.
Power cuts
If your customer doesn’t settle the bill after you provide your service.
Fires
Due to incorrect documentation being submitted to the customer or filed with customs.
Limited capacity on cargo ships and planes, as well as at ports and airports, can lead to delays and additional costs for companies.
Incorrect documentation
If you release cargo to the consignee, but the shipper hasn’t been paid yet and is holding the original HBL.
Cybersecurity threats
The cargo industry is vulnerable to cyber attacks, which can lead to lost or stolen data and increased costs for companies.
Inadequate cargo insurance
insurance policies should be adjusted in order to reflect accurate insured values and avoid underinsurance for costly container cargoes
Incorrect documentation
If you release cargo to the consignee, but the shipper hasn’t been paid yet and is holding the original HBL.
Cybersecurity threats
The cargo industry is vulnerable to cyber attacks, which can lead to lost or stolen data and increased costs for companies.
Stop Struggling to Maintain Profitability in a Tightening Cargo Market. We improve your Loss Ratio mitigation through recoveries
Cost Savings
Our service fees are transparent. No hourly rates that cost you a fortune at the end of the month. Plus, we pursue your recoveries on the basis of "“No cure, No pay”.
Scalability
Freight claims and cover implications may be holding you back. Engaging our expert legal team allows you to keep developing your business, even in the face of catastrophic incidents.
Agreeable Settlements
We bring opposing positions closer together thanks to our legal knowledge (and common sense). We stay out of court and resort to alternative dispute resolution instead.
Visibility
You’ll receive monthly reports, so you are never left wondering how far along your recovery is. We have a data- and IT-centric approach to business.
Customer Care
A lack of legal knowledge may paralyse you at a time when your customer needs answers. We help you make educated decisions so you can act swiftly and show your customer that you care.
Global Presence
Shipping knows no borders. And neither does our expert legal team, who can support you anywhere in the world. You can address us in as many as 9 languages.
Expertise
Qualified legal advice for your peace of mind. Even the most complex cargo claims will lead to better outcomes for your business and your customers, thanks to our experience in the transportation industry.
Compliance
Keeping pace with fast-changing trade regulations is a challenge. And failure to do so may cost you a pretty penny. Rely on well-versed professionals to ensure your regulatory compliance
Sound Too Good to Be True? Here’s How We Improved Other Clients’ Loss Ratio
We Achieve the Best Outcome for Your Freight Loss and Damage Claims
Risk Management
In your logistics operations, you may be faced with all types of cargo claims. Which means you have to stay on top of regulatory changes regarding:
- Liability – as you’ll need to prove there was no negligence of your part, and master the game of shifting liability.
- Deadlines – freight damage claims must be filed within a given timeline, based on the type of freight and contract provisions.
- Paperwork –incomplete or incorrect paperwork may result in marine cargo claims being denied.
- Evidence – if you want your forwarder liability insurance to protect you, you’ll need to provide proof that you aren’t to blame for the freight damage.
Let’s be clear. With the vast range of marine issues you may encounter and with all stakeholders involved in logistics, there are bound to be gaps in your in-house legal expertise.
Our legal team fills them by providing you with on-demand regulatory and transactional support.
Loss Ratio mitigation through recoveries
Recovery is all about pursuing financial mitigation. And it may come in different shapes and forms.
- Retrieving lost or stolen goods
- Finding a suitable salvage vendor for damaged products
- Taking legal action against a third party at fault
one thing is true, regardless of the type of recovery pursued: it takes time and detective skills to follow a cargo loss to secure evidence.
Different obstacles may stand in the way of your recovery actions for cargo during transit.
Mitigation & Salvage
Good practices when you’re faced with freight loss and damage claims can reduce the likelihood of forwarder and NVOCC liability.
We help your in-house staff understand the implications cargo loss and damage may have, and give them tools to look out for your best interest.
The result of our training will be a black and white procedure to reduce risk in the event of freight damage.
• Getting written instructions from customers
• Managing subcontractors
• Monitoring the issue and release of documents
• Handling dangerous goods
• Dealing with insurance claims
In a nutshell, everything needed to keep your freight forwarder liability insurance coverage and prevent loss of profit.
Read What Other Freight Forwarders and Cargo Carriers Have to Say about Our Claims Advocacy Services
Q & A Find Out How We Help You Deal with Cargo Claims
You can count on it, as we safeguard your financial interests by:
- Protecting you against sanctions
- Ensuring you aren’t held liable for any freight damage claims where another party is at fault
- Collecting outstanding freight invoices on your behalf
- Pursuing your recoveries on a “No cure, No pay” basis.
We have a hands-on approach to providing legal advice. Being experts in logistics and transportation and having our own claims handling division, we understand the intricacies of international trade.
We’ll assess all possible scenarios and ensure we achieve the best outcome when you’re confronted with freight claims.
