Financial Protection Program

Financial Protection Program

Dealing with confidence is the main factor of increasing efficiency in any kind of collaboration, and nothing can guarantee this unless you feel financially secured at all times. So All paid members of WSA are covered by our WSA FPP (Financial Protection Program) in the annual fee. WSA feels that FPP Program should be made available equally for all members of the network.

WSA FPP allows members to comfortably work with each other even if they have not worked with each other before.

 

Prior to transacting with network members, please verify from the network agency list that your partners

Agent to submit a statement of account (AR/AP) within the first 10 days of each month

Send pre-alerts (HAWB, MAWB, and Billing) within 14 days of shipment.

Agents must file a late-payment-report within 60 days of the transaction.

Only network members are eligible for security claims. Expired member status is not entitled to submit claims to the network.

The network security blanket covers for invoices within a maximum of 90 days before the claim date and does not provide coverage for shipments with payment terms of more than 30 days.

Security coverage is only granted to members that have attended the network’s conferences.

Only invoices relating to the offices/cities that are registered will be eligible to participate in this fund i.e. if a company only registers its Hong Kong office but has several other offices in NEW YORK, only invoices covering freight originating from/destined to their Hong Kong office will be considered as eligible.

The network does not cover disputes caused by service errors

The network reserves the right to update the above terms at any time.

For payment issues that have been resolved, the payer will undergo a 60-day probationary period, for the purpose of payment monitoring. Network Management has the right to downgrade payment status of members with payment issues. This is to ensure that the entire network is kept safe.

Financial Protection Program up to USD 10,000 for the 1st year

Increase to USD 20,000 in the 3rd year then Increase to USD 50,000 for members that are in the 5th year  and above with the network