Freight Protection Plans

Freight Protection Plans

The Gold Global Logistics Shield Plan

participant requirements:

participant has successfully passed The Gold Global Logistics Shield Plan financial assessment criteria
participant has paid due freight protection fees to GLS
participant's debt is included in The GLS Timely Freight Payment Monitoring & Alerting Scheme
participant's assessment fee: USD 375 (non-refundable, irrespectively of assessment result)
participant's yearly insurance premium: from^*1 USD 500 (refundable, if gold cover not accepted)
participant's yearly GLS Timely Freight Payment Monitoring & Alerting Scheme fee: USD 100 (refundable, if gold cover not accepted)

creditor requirements:

participant's creditors are individually signed up and covered by The Gold GLS Freight Protection Plan or The Platinum GLS Freight Protection Plan (principle of mutual cover between participant and creditors)
participant's creditors' debt is filed by creditor with GLS in accordance with the Creditors Timely Filing of Invoices^*2 procedure

benefits:

participant's creditors' debt (90%) covered in case of participant's insolvency or bankruptcy by underwritten insurance up to a maximum of USD 55,000 per creditor, up to an aggregated liability of USD 200,000 per participant, up to an aggregated yearly plan maximum of USD 1,000,000 for the underwriter, subject to the underwritten insurance policy terms & conditions
participant's debt is included in The GLS Timely Freight Payment Monitoring & Alerting Scheme
GLS gold logo, cover and alert status may be displayed in participant's own website, collateral and emails
GLS gold logo, cover and alert status is provided by GLS's public online participant query
GLS gold logo, cover and alert status is published by GLS to selected freight directories listings

Note: The Gold Global Logistics Shield Plan is the only plan, which can be applied for.

The Platinum Global Logistics Shield Plan

participant has successfully held Gold Global Logistics Shield for at least one year
no late payments logged for participant with GLS for at least one year
same fees and cover as The Gold Global Logistics Shield Plan applies
GLS platinum logo, cover and alert status may be displayed in participant's own website, collateral and emails
GLS platinum logo, cover and alert status is provided by GLS's public online participant query
GLS platinum logo, cover and alert status is published by GLS to selected freight directories listings

Note: The Platinum Global Logistics Shield Plan cannot be applied for; it is granted by GLS to participants covered by The Gold Global Logistics Shield Plan, fulfilling the stated conditions.

The Silver Global Logistics Shield Plan

participant is a candidate for meeting The Gold Global Logistics Shield Plan financial assessment criteria
participant has paid due freight protection fees to GLS
participant's creditors are not covered against participant's insolvency and bankruptcy
participant's debt is included in The GLS Timely Freight Payment Monitoring & Alerting Scheme
participant's assessment fee: USD 375 (non-refundable, irrespectively of assessment result)
participant's yearly GLS Timely Freight Payment Monitoring & Alerting Scheme fee: USD 250
GLS silver logo, cover and alert status may be displayed in participant's own website, collateral and emails
GLS silver logo, cover and alert status is provided by GLS's public online participant query
GLS silver logo, cover and alert status is published to selected freight directories listings

Note: The Silver Global Logistics Shield Plan cover cannot be applied for; it is selectively offered by GLS to companies applying, but not immediately approved, for, The Gold Global Logistics Shield Plan, and fulfilling the stated conditions.

*1 Turnover Based Insurance Premium and Cover Liability

turnover (yearly)	premium (yearly)
less than USD 25,000,000	USD 500
more than USD 25,000,000	USD 2,500

*2 Creditors Timely Filing of Invoices

recommended invoice date: immediately after work executed (maximum allowed 30 days after work commenced)
invoice last due date: latest 30 days after invoice date
recommended filing of invoices with GLS: upon invoice issuing (maximum allowed 30 days from last due date)

Filing's done after the maximum allowed deadlines are not covered by The GLS Freight Protection Plans. All invoices filed with GLS are automatically participating in The GLS Timely Freight Payment Monitoring & Alerting Scheme

Hong Kong – Macao Forwarders Conference

Claim your FREE ferry ticket from Hong Kong International Airport to Macao*

Are you travelling to Asia for a freight conference? Are you travelling efficiently and combining your trip to visit multiple events in the same period?

Global Logistics Shield would like to invite you to visit The Freight Summit - thefreightsummit.com - in Macao from Sep. 22-25, 2010. The GLS fund will officially launch its services at The Freight Summit Conference and Expo with 600 participating independent freight forwarders.

Claim your FREE ferry ticket from Hong Kong International Airport to Macao* and visit the GLS booth at the Freight Summit, where you will have:

Guaranteed face to face meetings for unlimited business opportunities with more than 600 participating freight forwarders
More than 60 exhibitors showcasing their products and services specifically for independent freight forwarders
Business and Entertainment at the VIP Party with live band and free flow

*Terms and Conditions of the Free Ferry Ticket as follows:

- only one-way ferry ticket between HKIA and MACAO, per person participating at TFS 2010
- to be claimed at the registration desk for cash refund against original ferry tickets/receipts