Best Services Intl Freight Ltd is China’s first approved company for insolvency protection plan

Oct. 7, 2010 - PRLog -- Underwritten by Chartis, the policy provides insolvency cover for participating companies on a global basis.

Shenzhen based Best Services International Freight Ltd was the first Chinese company to be approved last week joining forwarders from Hong Kong, Nigeria, Tanzania and India with 600+ other applications in the pipeline.

The GLS plan provides improved cover for companies compared to self insured schemes which have limited funds and security. GLS is neutral and independent of any network group, association or club. The GLS Timely Freight Payment Monitoring & Alerting Scheme allows users to monitor and validate payments and issue alerts when payments are overdue.

“For many years it has been a concern of many independent forwarders that they are vulnerable to losses incurred when another forwarder is unable to pay freight charges. The GLS Freight Protection Plan is available to all freight forwarders or logistics companies even if they are not members of an affiliated network,” said Phil Morrison, GLS, Director.

GLS has offices in Hong Kong, Singapore and London.

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Global Logistics Shield (GLS) is a 2009 Hong Kong incorporated legal entity offering freight protection services for forwarders and logistics providers.