A Guide to Due Diligence at an Individual Shipment Basis

This document should be read in conjunction with the BIFA Good Practice Guide for Due Diligence regarding Credit Application Procedures, which gives guidance regarding the due diligence that it is recommended should be undertaken when opening up credit accounts for new clients and handling one-off shipments.

A Guide to Due Diligence Regarding Credit Application Procedures

At BIFA we have noted an increase in the number of enquiries regarding problems with clients not paying charges when due and relative to the best way to incorporate the BIFA Standard Trading Conditions (STC). This Guide is a pragmatic approach based on the personal experiences of BIFA personnel and Members should consider seeking the assistance of a suitably qualified professional if further help is required.

A Guide to Due Diligence on Release of Bills of Lading and Freight

Bills of Lading are the main documents used in the transport of goods by sea. It can be confusing to complete or give instructions on completion and to use bills of lading correctly. In this brief Guide, we focus on the main types of bill of lading, what information should be contained within them, the pitfalls Members may encounter and how to avoid them. The final area that is covered suggests prudent steps that are applicable to the physical release of cargo.

A Guide to Sub-Contracting

Good Practice Codes have become commonplace in the forwarding industry, often introduced as part of quality assurance operating procedures for the qualification of sub-contractors. They have relevance to liability insurance and standard trading conditions. In order to introduce conformity, and having regard to BIFA’s Standard Trading Conditions, this guide has been drafted for use by Members of the Association in terms of what you should think about including in a contract with a sub-contractor.

A Guide to COD and Shipper’s Disbursements

Cash on Delivery (COD) is still a common means of collecting payment for goods. It is used most often for movements by air and for shorthaul road services where more traditional means of payment, involving negotiation of documents through banks, simply take too long.

A Guide to Dealing With Personal Effects

Arguably the largest number of complaints BIFA receives against its Members come from individual members of the public who are shipping their personal effects. Few things are more stressful for people than moving house, or their belongings, from one place to another. Such customers need greater care and attention than regular, commercial customers.

A Guide to Documentary Letters of Credit

Letters of credit exist primarily to assist the seller in receiving guaranteed payment for goods from the buyer through the international banking system. They also help protect the buyer from costs other than those already agreed.

A Guide to the Use of Incoterms®

Incoterms® are internationally accepted rules for the interpretation of the most commonly used trade terms in foreign trade and were developed and published by the International Chamber of Commerce (ICC).

A Guide to the Basics of Insurance

It is a condition of BIFA membership that all Members carry freight liability insurance including errors and omissions cover. If a BIFA Member sells marine cargo insurance to customers it is a membership requirement that such insurance is placed on an Open Cover Policy arranged directly with insurers or through an insurance broker.

A Guide to Logistics Agreements

The services provided by freight forwarders and logistics suppliers can be complex. This complexity has added innovation and value, enabling the customer to outsource much of what was previously done in-house. For freight forwarders however, extending the service offer is not without risk, and it is essential to understand where these risks lie and what can be done to protect against potential loss.