During the first quarter of each calendar year, the Eonepaysports organization may disburse up to 80% of the funds in the CPP fund as compensation to participating agents with debts outstanding from agents who have declared bankruptcy or gone out of business during the year, to a maximum amount of 25,000 USD per debtor. To collect such debts through legal means, the CPP will engage a reputable debt collection agency's services.
CPP accounts will be kept entirely separate from those of the Eonepaysports logistics network and will be open to all participating agents scrutiny.
The cargo payment protection (CPP) protects agents against losses due to uncollected debts from other Agents in the event of bankruptcy or insolvency.
Agents agree to protect the interests and reputation of the Eonepays within their territories by upholding the highest standards of integrity, quality, and customer service. Only the most solvent, reputable, and creditworthy agents are accepted as agents. Furthermore, we continue to monitor their performance and promptly detect any signs of trouble, such as the late payment of an invoice issued by another member.
1.1. The agents shall actively co-operate in international freight forwarding and logistics services for shipments moving between their respective territories. Each agent of the network will provide or arrange full logistical services necessary for freight movement via air or ocean or other means, including ancillary support services and timely preparation and transmission of related documentation and electronic data.
• A. Each agent will have the following registration- Master Air Waybill, House Air Waybill, Master Ocean Bill of Lading, or House Bill of Lading. MTO.NVOCC, IATA.ACCAI, DACAAI
• B. The agents agree not to accept co-load cargo from or on behalf of other freight forwarders without first obtaining the other's consent.
• C. The agents agree that giving credit for any freight charge is solely the agent's liability extending such credit.
• D. All requests for information will be as follows;
1.2.Reporting violations agent will notify the Eonepays organization when they know or suspect that other agencies are engaged in dubious business practices of any kind, such as charging significantly higher rates than the average market rates in their territories, providing poor service to their customers, or neglecting their responsibilities to other agencies.
Agent who intends to continue as agent for another year must order a bank transfer to pay the full amount of the next year's fee. If an agent chooses to participate in the CARGO PAYMENT PROTECTION (CPP), they must send a separate transfer of 25000 INR in payment of the first annual contribution to the CPP.
5.1. Agent CPP fee amount: The annual fee for each territory is 25000 INR. The fee will be revised each year, but the increase will never be more massive than 10% in a single year.
5.2. Participation in the CPP: Full agents (those who have paid the agent ship fee and CPP) who are in good standing with the Eonepays logistics network will be covered by the CPP. Agents will lose their coverage if they resign or are expelled from the Eonepays logistics network for infringing the rules.
5.3. Invoice and payment: Annual agent ship fee and CPP contributions will be invoiced 30 days before the end of the Agent ship year, and payment by bank transfer will be due before the Agent ship year. There will be an additional expense to cover the bank fees.
5.6. Branch offices: The agent may register their branch offices in the same country as the principal member. They register for each inch and pay only 50% of the published agent ship fee for the territory and 25000 INR annually from each branch office to the CPP.
5.7. Refunds: No refunds of agent ship fees or contributions to the CPP will be made to a member who has outstanding payment obligations to another gent. A member who voluntarily resigns from the network will be refunded 80% of his contribution to the CPP for that year, less a proportion of any claims made against the fund. No part of the annual agent ship fee will be refunded if a member's expulsion or resignation.
Expulsion: Agents who are expelled for any of the reasons listed below are liable to forfeit all claims for refund of any part of the agentship fee and their contribution to the PPP fund.
• Engaging in dubious business practices, rendering poor service, or neglecting responsibilities to other agents.
• Recurrent late payments of invoices issued by other agents
• Failure to pay invoices issued by other agents.
• Failure to attend two consecutive annual conventions.
• Failure to actively contribute to sales promotion.
• Bad faith in a dispute with another member.
• Recurrent violations of any other rules.
Language and communication: English language will be used in all business and institutional communications between agents. Agents will adhere to the following procedures in their e-mail communications with other agents and with The Eonepays head office.
7.1. Agents: The subject line in all e-mail communications between Agents must begin with the initials "EonepayS," followed by the name of the city of origin, and then followed by the subject of the e-mail, as shown in the following examples: EonepayS - New York / Booking 1x40'HC Hong Kong - New York EonepayS - Paris / Air rate to Ho Chi Minh EonepayS - Melbourne / Pre Alert 325 Kg to Kobe.
7.2. Eonepays organization: The subject line of all e-mail communications sent by The Eonepays Organization will begin with "EonepayS - Head Office," followed by the message subject, as shown in the following example: EonepayS - Head Office / New agent incorporation in Sudan.
8. Surcharges: Any applicable surcharges such as BAF, CAF, Fuel, Security, Congestion, War Risk, etc., will be those valid at the time of shipment.
9. Advance notification: An advance copy of the paper invoice will be sent by e-mail to the member being billed on the date the invoice is issued. The member receiving the invoice will acknowledge receipt of the e-mail.
9.1. Dates: The dates shown on invoices must match the departure date for exports and the customs clearance date for imports.
9.2. Currency: Payments to Agents will be made in the currency requested in the invoice. Agents may use other currencies only when they have agreed to do so in advance.
9.3. Disputes: In the event of a dispute over an invoice, the recipient must notify the issuer within ten working days, clearly explaining the reason for the disagreement. After this period, no claim will be accepted. If a dispute over an invoice cannot be solved amicably within 45 days, the complainant must file a complaint to the Dispute Resolution Service.
9.4. Penalties: A member who receives no notification of payment from another member within 45 days of the invoice date will notify the Eonepays head office of the incident. The wrongdoer will be contacted and granted an extra five calendar days to make payment. If the member misses a payment deadline on a second occasion, they will be given a final five days to make the payment. If the member fails to make the payment within the five days, the member will be expelled from the network, and the Eonepays head office will take the following steps:
• Notify all Agents that they must withhold all payments, and request information from all Agents about the state of their accounts with the offender.
• Release funds from the CPP to hire legal services in the offender's home country to collect the debt.
• Provide detailed information about the incident to the following people and bodies:
• Persons represent other freight forwarders and carriers who acted as the offender's referees during the application process.
• IATA, FIATA, Custom Broker Association, and the freight forwarders association in the offender's home country.
Dispute resolution service: In the event of a dispute between two agents that cannot be solved amicably, these agents will invoke the dispute resolution service, under the terms and conditions established and agreed by all agents.
10.1. Agreement to accept resolution: Agents requesting this dispute resolution service agree to accept and abide by the decision of the Eonepays head office and to refrain from any further litigation relating to the dispute.
10.2. Fee: The Eonepays will charge a minimum legal fee (as per invoice of law firm) for rendering this dispute resolution service, to be paid in equal shares by the disputing agents. A higher fee will be charged if the services of an attorney, expert witness, or consultant are required. Before arbitration, each of the disputing Agents will receive an invoice from the Eonepays for 40 EUR, which will be paid by bank transfer.
10.3. Background: Each disputing member will send an e-mail to the Eonepays head office with details of the reasons for the dispute, along with all supporting evidence.
10.4. Decision: The Eonepays head office will reach a decision on the dispute and will notify the parties involved within 20 working days of receipt of the last of the relevant documents.
10.5. Implementation: Within five business days of receiving notification of the decision reached by The Eonepays head office, the two parties will implement the decision.
Debts: The Eonepays will not collect debts on behalf of its agents, but it will punish or expel Agents who fail to meet their obligations to other Agents. While it carefully screens applicants to ensure that only the most reputable firms are admitted to the network, The Eonepays will accept no responsibility for any unpaid debts between Agents.
The Eonepays Logistics Network (The Eonepays) Agents are protected against other Agents' bad debts in several ways. Strict Agent ship requirements constitute the most solvent, reputable, and creditworthy agents accepted as Agents. Furthermore, we continue to monitor their performance and promptly detect any signs of trouble, such as the late payment of an invoice issued by another member.
Agents must immediately notify The Eonepays organization when a member is late with a payment. But additional security is provided by the optional cargo payment protection (CPP), which protects agents against losses due to uncollected debts from other Agents in the event of bankruptcy or insolvency. It does not cover disputed invoices.
The annual contribution is now 25000 INR per member, subject to review each year. During the first quarter of each calendar year, The Eonepays Organization may disburse up to 80% of the monies in the CPP fund as compensation to participating Agents with debts outstanding from Agents who have declared bankruptcy or gone out of business during the year, to a maximum amount of 25,000 USD per debtor. To collect such debts through legal means, the CPP will engage a reputable debt collection agency's services. CPP accounts will be kept entirely separate from those of the Eonepays logistics network and will be open to all participating agents' scrutiny.
Rule 1. Management of the CPP is managed and administered by the Eonepays organization, whose decision will be final. The Eonepays organization will supervise and manage the funds held in the CPP.
Rule 2. Participation in the CPP agents who subscribe to the CPP will be covered by the plan as long as they pay the annual fee and remain in good standing in the Eonepays, but will lose their coverage resign or are expelled from the Eonepays for infringing the rules.
Rule 3. Purpose of the CPP is intended to provide the means whereby a member of the Eonepays (the creditor) can recover unpaid funds/invoices from commercial shipments owed by another member of the Eonepays (the debtor) which has declared bankruptcy or gone out of business. A member company that ceases to exist due to a merger and acquisition is considered liable for its debt and is not covered by the CPP.
Rule 4. Accounting period is the financial year for the CPP is the same as the Eonepays's financial year.
Rule 5. Member coverage - The CPP will cover debts incurred by Agents of up to 25,000 USD per debtor.
Rule 6. Contributions - The Eonepays Organization will determine the annual fees.
6.1. The annual CPP participation fee is now set at 25000 INR per member. It will be reviewed each year, but increases will never exceed 10% in a single year.
6.2. Annual CPP participation fees are due within 15 days of receipt of the CPP invoice, and the participant will pay all bank and transfer costs and fees.
Rule 7. Compensation procedures - When the debtor's agent ship in the Eonepays is terminated, notification of the termination will be given by e-mail along with a deadline date for making any claim against the CPP. No claim received by the Eonepays organization after the deadline will be considered. Participants who apply for compensation must satisfy The Eonepays organization that;
Rule 8. Operating rules for the Eonepays CPP - In its report, the CPP participant will formally request the Eonepays organization to contact the defaulter and help recover the sum or sums overdue. If no request is made within 90 days of the invoice's date, the overdue sum will cease to qualify for any compensation. Upon receipt of a request for compensation, the Eonepays organization will verify that the creditor complied with the procedures above, that reasonable attempts to resolve the matter were made and unsuccessful, and that no claim was submitted after the report date announced by the Eonepays was taken into consideration.
Rule 9. Compensation evaluation and calculation - During the first quarter of each financial year, the Eonepays organization at its sole discretion will review and evaluate every individual claim and the total of claims received the previous financial year, using the following criteria:
9.1. The gross amount of an invoice taken into consideration will be exclusive of local taxes, GST, and interests/charges for late payments.
9.2. The sum of invoices from any creditor/s will be reduced by the number of invoices or charges owed by the creditor/s to the debtor.
9.3. If it becomes necessary to make payments to multiple creditors within the same fiscal year, proportional payments will be made up to a maximum limit of 25,000 USD per debtor.
9.4. The compensation will be limited to 80% of available CPP funds. The balance of any money not distributed in the corresponding financial year will increase the CPP funds.Rule 10. Dispute resolution service - In the event of a dispute between two agents that cannot be solved amicably, these Agents will invoke the dispute resolution service, under the terms and conditions established and agreed by all agents.
10.1. The unpaid invoice/s relates to a service rendered in conjunction with the shipment documents (Bill of lading, AWB, etc.)
10.2. Services were provided by and at the request of a current member.
10.3. The invoice/s in question meet/s all legal requirements of the country in which it was issued and met the following minimum requirements.
1. Complete the name and contact information of the company that issued the invoices.
2. Complete the name and contact information of the company billed.
3. Date on which the invoice was issued.
4. Date of service/s for which the invoice was issued.
5. Amount billed for the service/s rendered.
6. Rate quotation details.
Rule 11. Subrogation - Before any compensation payment is calculated; the Eonepays organization will notify the participant of the compensation amount calculated under Rule 10. As a condition of entitlement, the participant will accept and will make in writing the irrevocable transfer of its rights against the debtor in these matters to the Eonepays organization.
Rule 12. Administration and operating cost - The Eonepays organization will draw on CPP funds to pay legal and other costs incurred in recovering bad debts among Agents and pay expenses incurred in the ordinary management and administration of the fund. A full accounting of these expenditures will be available to all contributors to the CPP.
Rule 13. Effective date - No application for compensation will be accepted regarding an invoice if the service's date is before the applicant participates in the CPP.
Rule 14. Acknowledgement of CPP operating regulations - No application for compensation will be accepted regarding an invoice if the service's date is before the applicant participates in the CPP.
Rule 15. Payment of CPP claims - Payment of approved claims under the CPP will be made during the first quarter of each calendar year.
Rule 16. Payment of CPP claims - Any legal disagreement, conflict, dispute, controversy, interpretation, or enforcement of any document related to the CPP shall be submitted to Spanish law courts' jurisdiction in Valladolid exclusion of the jurisdiction of the courts of another country.
Rule 17. Disclaimer - The Eonepays organization will not be liable for any member's failure to meet its obligations to other agents or third parties. Agents understand and agree that the CPP is not an insurance policy and that disputes resolution is a service. Both the CPP and the disputes resolution service are resources offered.
Cargo insurance can be taken for international as well as domestic transportation. Simultaneously, this isn't easy to standardize and control without the proper cooperation from countries and states due to this insurance's varying nature. Under these variations, this insurance can be categorized into the following classifications:-
Land cargo insurance : This insurance provides coverage for all the land transportations covering trucks and other small utility vehicles. The coverage aspects are theft, collision damages, and other related risks. This insurance is domestic and operates typically within the boundaries of the nation.
Marine cargo insurance : This insurance covers transportation carried ours either in the sea or by air. Here, transportation and goods are covered from damage due to cargo loading/unloading, weather contingencies, piracies, and other relevant issues. Mostly, this insurance covers international transportation. Under these insurances, some policies can help you understand the cargo insurance concept in a profound manner. These policies are:-
Cargo insurance covers transits in the water, air, road, rail, registered post parcel, and courier.
Following aspects are covered under the benefits of this insurance:
All risk coverage
This coverage provides extensive protection against damage or loss due to external factors. Though this is called all-risk coverage, people should still know the aspects included and excluded in the policy. Under all-risk coverage, included aspects are:
• Damages due to inappropriate packing
• Cargo abandonment
• Customs rejection
• Employee's dishonesty
Free from particular average coverage (maritime insurance-related)
"Free of particular average" coverage clause excludes coverage partial losses to the cargo or the hull except those resulting from stranding, sinking, burning, or collision. Another important aspect of this clause is that the shipper does not pay for minor losses (pre-decided percentage) and is only held liable in case of significant losses to the cargo. This insurance coverage belongs to a select category and covers particular perils only. There is a difference in coverage depending upon the storage location of the cargo. In this policy, the following perils are included:-
• Heavy weather
This coverage is an essential requirement in the marine cargo transits. More specifically, it covers only partial loss occurred to the shipment. It requires all the other cargo holding owners on the ship to pay compensation to the periled cargo owner.
This coverage is applicable when the shipment is unloaded from the ship and transported to the customer's warehouse. Insurance companies are very particular about compensating only the insurance holder's cargo, not other owners' cargos.