Transport invoice guarantee

16-Nov-2020

 

The service is offered in partnership by ALPEGA (Teleroute, Wtransnet, 123cargo freight exchanges) and COFACE Belgium, as an insurance partner.

 

The new service, available on the new version of 123cargo, guarantees the collection of transport invoices:

 

Guarantee purchase:
(before the transport operation)

Requested info:
1. debtor client identity
2. originated freight exchange 
3. guaranteed amount

Only online prepayment
(debit/credit card)
Guarantee purchase:...
Did COFACE accept the guarantee request?
Did COFACE accept the guarantee request?
Reimbursed paid price
Reimbursed paid price
NO
NO
      1, Transport execution
      2. Invoice issued
      3. Collection at due-date
1, Transport execution...
YES
YES
Online and real time process
Online and real time process
Collected invoice?
Collected invoice?
Closed guarantee.
Closed guarantee.
YES
YES
NO
NO
Claim and process
in 123cargo
PAYMENT INCIDENT
Claim and process...
Collected invoice?
Collected invoice?
Closed guarantee
Closed guarantee
YES
YES
NO
NO
Reinbursment request
through 123cargo
toward COFACE

Reinbursment request...
Viewer does not support full SVG 1.1

 

The cost of the service is 1.7% of the guaranteed amount and can be paid only online (by debit/credit card).

 

In case of an overdue invoice, using the payment incident procedure, the carrier collects from his customer the value of his invoice, including VAT.

 

In case of failure in collecting the invoice from his customer through the payment incidents procedure, the carrier, following his request of compensation addressed to COFACE, will recover 90% equivalent value of the transport invoice, without VAT. The compensation claim cannot be submitted without previously going through the payment incident procedure, except for the case of insolvency of the customer. In this situation, the compensation claim is directly submitted without going through the stage of payment incidents.

 

Who can purchase the warranty service? companies with active access to 123cargo at purchase date. This mention is important, due to the fact that the guarantee term may last for a long time until the compensation moment by COFACE. The service, once contracted, remains valid even if the subscription expires.

 

Who can be the Customers in Default (compared to the buyer of the guarantee)? active customers at guarantee purchase date on any of BursaTransport/123cargo and TELEROUTE freight exchanges, and, in the near future, the service will include also the active clients of Wtransnet freight exchange.

 

***

 

According to our information, the collection guarantee service offered by ALPEGA freight exchanges is a premiere in Europe. It remains to be seen to what extent our insurance partner COFACE Belgium has, from the first day of operation of the service, online and in real time prepared data regarding the guarantees of Central and East Europe companies. For your full information, we reveal that any guarantee claim affected by the lack of information at COFACE triggers an urgent evaluation of the customer in default, in line with ALPEGA - COFACE partnership, process which is still asynchronous and takes several days.

 

Please see the terms and conditions of the service provided by us as well as their summary. Please do not hesitate to comment upon this information here.

 

123cargo team