What are the main benefits of membership?
Firstly, all trading Members are obliged to provide a guarantee (or other documentary credit) for security. There are various levels of Membership depending on area involved, a full Membership (normal) requires security guarantee of US$ 50000, which is used to secure all charges against that Member. In the event of a Company failure or other dispute, this guarantee may be cashed and others Members bills paid from the proceeds. There are also mediation services available to assist with disputes between Members via established sub-committees, where disputes may be quickly settled by other, impartial experienced forwarders. The Secretariat does not replace a Member’s credit control, but disputes arising from late payments can be referred to the Secretariat once 90 days old.
