Macau, June 25th 2010
Global Logistics Shield (GLS), the first global freight protection plan for independent freight forwarders, will launch at The Freight Summit, Macau on September 21st, 2010.
GLS provides cover against losses due to an individual company’s inability to pay outstanding freight charges and is insured on international markets and supported by reputable underwriters. The fund is underwritten to provide US$1 million of cover.
“We are delighted that the Global Logistics Shield has chosen The Freight Summit to for its international launch. We will have more than 600 independent freight forwarders attending our event in September and GLS will provide valuable security and monitoring to our community of networks,” said Nils Walle, Director of RWS Solutions and organizer of The Freight Summit.
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. We decided to launch GLS at The Freight Summit as the event is focused on providing a neutral and open forum for the SME forwarding sector. 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 Rene Bendt, GLS, Director.
The Freight Summit (TFS) will take place September 21st-26th, 2010 at the Venetian Macao.
TFS provides a neutral ‘open source’ platform which enables individual companies and freight forwarder networks to expand their networks and scope of services.
The Freight Summit provides a forum for logistics experts and technology providers to offer services, share their experiences and provide advice in order to support the independent freight forwarding community.
Global Logistics Shield (GLS) is a 2009 Hong Kong incorporated legal entity offering freight protection services for forwarders and logistics providers. GLS supports national and international freight forwarder networks and their members, by establishing a status of credibility of GLS participants, and thereby providing financial security to creditors of protected participants.
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