Here’s an update on fees and payments for Quick Quotes Spot
On August 5, 2022, we shared the fees and payments for Quick Quotes Spot. Just in case you missed it, here’s an update for you.
Our Quick Quotes Spot product is designed to provide you with an instant booking confirmation, first vessel load guarantee, loading guarantee at transshipment ports and equipment guarantee. The unique characteristics of this product must constantly adapt to a very variable market environment, where quality of our product’s output is important for your cargo planning. As we strive to deliver our product with the utmost precision, we must also ensure that cargo commitments are maintained. Therefore, we are looking forward to keeping cancellations and no shows at the lowest possible level.
With the above in mind, here’s the overview for Cancellation and No-Show Fees, and the Compensation payment. Given the versatility of our Quick Quotes Spot product, the applicable fees and compensation payments are valid globally, per container, in the form of percentages. Here’s an overview of this structure*:
- The fees and compensation percentages per container will be the following:
- 5% cancellation fee
- 10% no-show fee
- 5% compensation amount
- The above-mentioned values will be based on the Quick Quotes Spot sea freight amount plus the trade-related Marine Fuel Recovery (MFR) charges.
- To maintain a balanced approach, the percentage calculation’s resulting amounts will be capped at:
- Minimum USD 100**
- Maximum USD 1200
The fees and compensation values will be in the same currency as the Quick Quotes Spot freight charges. The cancellation structure will be considered from the purchase date.
You can find out more details about our product here. If you should require additional information, please contact our customer service team at your location, who will guide you based on your individual situation.
*A detailed description is available in our product’s terms and conditions.
**Updated from the news on August 5, 2022.
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