Global Logistics Shield is gaining acceptance across the seas

Global Logistics Shield, the underwritten debt protection for the freight forwarding industry, is building up acceptance as the industry standard for doing safe business across continents. Freight forwarders are signing up for their own cover, signifying, that they are financially healthy companies to do business with, and at the same time instigating their overseas business partners to also sign-up, both to benefit from their own cover and to offer mutually risk free credit arrangements.

Mr. Alvin Ho, Managing Director of S.F. Systems in Hong Kong with 10 China mainland offices remarks “The Global Logistics Shield cover allows us to shine out amongst our piers and make us an even more attractive partner for our overseas contacts“. Mr. Biju Thomas, Managing Director of OnTime Sevenseas Logistics in India states “Whilst the majority of our business is conducted with known partners around the globe, the Global Logistics Shield cover has taken the risk of doing business with less known partners out of the equation –we just look for the GLS cover and then we can safely go ahead with doing business; just like we expect our overseas partners to do when selecting an India partner for their business. As the freight forwarding is grown to new dimensions, working with agents with business back to you is getting more and importance of GLS will be a great tool to safeguard yourself as well as showcase yourself as a safe partner to work with is not a choice, but a need by itself in the current economic scenario’’.

The Canadian Transport Group Mercator’s Ghana Country Manager Mr. Sudershan Jakshan, states “Global Logistics Shield’s approval is important for us. In our part of the world our international business partners are often reluctant to start new engagements due to the financial risk, but with Global Logistics Shield’s cover, we can now focus on growing our business”.

“Chinese freight forwarders have looked in many directions to find a way for our partners to trust us as equal business partners irrespectively of whether freight is collected in export or import end. With Global Logistics Shield’s debt cover, we believe to have found the way” says newly approved Lipsen International Freight System in China’s Mr. Johnson Lau, G.M, Operation & Sales“. Mr. Sandy Bedi from U.K. based Jet International Transport ends “Whilst the recent financial crises is fresh on our mind, most of us can recall some nail-biting incidents during the recent 18 months, when we were uncertain if our business partners would be able to pay their invoices in time. With Global Logistics Shield cover in place for ourselves, we can now ask our partners to also seek cover, so we as business managers can spend our time looking after our customers instead of spending our time in the finance department.”

Global Logistics Shield’s debt protection insurance is underwritten by Chartis and is accompanied by a timely payment monitoring scheme ensuring prompt settlement of outstandings amongst partner freight forwarders.