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Safe

Payment security guarantee plan - Credit alert system

Neutral Air Partner has established a payment security guarantee plan (SAFE) for the benefit of its members .The enrolment to the SAFE plan, is mandatory for all air partners and associate members .The SAFE plan works in conjunction with the NAP Credit alert system.

Credit Alert is a customized intranet tool, where members are able to report their over 60 day’s receivables and to upload statements and email correspondence to the NAP credit control database. After reporting all information, members are entitled to claim their receivables.

Overview

The SAFE plan is-funded mainly by Neutral Air Partner (Executive Networks Limited, incorporated in Hong Kong) and to a small degree, is also self-funded by the members with a fee of USD 500 per annum.

Although originally established to cover only issues of bankruptcy/insolvency, the SAFE plan has been expanded to protect NAP members against bad/delinquent debts from other NAP members arising after that date, and can be used at the discretion of the NAP SAFE plan committee for other situations and to guarantee up to USD 20,000 for each year of membership with a maximum of USD 100,000 per year for members that have been members of NAP for 5 years or more.

Conditions

  • The maximum amount that will be paid out in any single incident is an aggregate amount of USD 20,000 per year, for each year of membership to maximum of 100,000 USD to a member with over 5 years of membership. Example: a member that belongs 2 years to NAP will be subject to a 40,000 Maximum paid out, a member with one year 20,000 USD, and a member with 6 years a maximum of 100.0000 USD pay out.
  • The SAFE plan will  not cover any single invoice over 15,000 USD  such a transaction is considered a “special project “and can be subject to a special agreement, conditions, deadlines, and possible disputes.
  • The SAFE plan however will pay out the total amount of multiple invoices to a maximum from 20,000 to 100,000 USD as per above ,excluding single invoices that are over 15,000 USD and are considered a “ special project” based on above special condition .
  • In order for a member to receive payment from the SAFE plan, the recipient must agree to sign any future recoveries of the debt over to the NAP management (Executive Networks Limited) and to fully cooperate with NAP management in instituting collection and/or legal recovery of such debt.
  • In order to receive payment from the SAFE plan, the recipient must report its receivables not before 60 days and not after 90 days thru the Credit alert tool. Failure to do so will result possibly to a payment failure.
  • The SAFE plan will pay out members taken into consideration that a credit limit from member to member is in place between members of maximum 30.000 USD credit limit.
  • The annual SAFE plan fee of USD 500 and the aggregate amount of coverage as well the condition is subject to change.
  • Claims will only be considered if the Credit Alert procedure has been followed.  The non-reporting of delinquent debts will make them ineligible for recovery under the SAFE plan.
  • Claims will only be considered when invoiced under the company name that was signed on the initial NAP Membership registration agreement at the time of membership. Further, only invoices relating to the offices/cities that are registered will be eligible to participate in this fund (i.e. if a company only registers its New York office but has several other offices in USA, only invoices covering freight originating  and routed from their New York office will be considered as eligible.). Those members who have offices not registered can become eligible for future access to the SAFE plan by paying USD 200 for each office and be part of the fund process. The documents that will be taken into consideration will be the email correspondence, Invoice, and Air Way bills. When an Airway bill is being consigned to a branch of a member that is not enrolled into the SAFE plan but the invoice is billed to the HQ it might not be considered after investigating all the circumstances of a possible fraud.
  • Claims will only be considered if incurred when invoiced while the claimant is an NAP member i.e. from date of enrollment (funds received by NAP) on a “go-forward” basis until termination of membership. If any of the claiming members are also member of another network with a financial security guarantee plan, or they have an external private insurance that covers all or part of the debts , the claim against the SAFE plan will be reviewed after payments made by the other network or the insurance company . Failure to report enrollment to other network’s financial security guarantee plans or an active private bad debt insurance can be considered a possible fraud and members will not be covered by the SAFE plan.
  • Claims will only be considered if an invoice is issued no more than 7 working days of shipment's departure or arrival.
  • It must be fully understood that the SAFE plan is primarily for bad debts rather than operational errors and valid for transportation of general cargo. Claims will not be accepted – unless approved by the NAP Management – to cover non-conformance with service levels, shipments of personnel effects, time critical, deadline arrivals , temperature control, VAL , live animals ,events and exhibitions, dangerous goods ,shippers/consignees connected with Internet mail services such as E-Bay, lost or damaged cargo, invoices covered by a member’s Errors and Omissions Insurance or other insurance coverage, 3rd party damages, currency exchange fluctuations, goodwill payments, illegal transactions, legal fees, interest, etc.
  • If all above conditions are met, SAFE plan is obliged to pay out the recipient at a maximum of 120 days from the date of claim.
  • SAFE plan adopts Force Majeure policy that frees us from liability or obligation when an extraordinary event or circumstance beyond our control, such as war, sanctions, strikes, riot, crime or an event described by the legal term “Act of God” (such as hurricanes, flooding, earthquakes, volcanic eruption). Force Majeure is NOT intended to excuse negligence – as where non-performance is caused by usual and natural consequences of external forces.
  • Disputes are investigated and are due to an evaluation and mediation procedure during the annual NAP general conference only two NAP members chosen by both parties and chosen by the NAP management are entitled to act as mediators. Mediators and NAP management will carry one vote each (total three votes) in order to take a decision on a specific dispute, unless a settlement has been successfully agreed among the two parties during the evaluation and mediation procedure. Disputes have to be reported no later than 60 days and not before 90 days in order for member to be legible to an investigation, evaluation and mediation process.
  • Payments into the SAFE plan are not refundable to participants upon leaving the organization.
  • The Scheme is governed by Hong Kong and members agree to submit themselves to the exclusive jurisdiction of the Hong Kong court.

DISCOVER YOUR AIRCARGO DNA.

  • It was a refreshing event also from airline prospective in regards to the quality of the delegates gathered from around the globe, the industry expertise in airfreight ,and consequently the buying power such a group of smaller sized market players can bring to a carrier. The innovative approach , linked with a platform of air cargo community tools tool can deliver added value to the supply chain, and differentiate themselves from the mass .We as Air Bridge Cargo are supportive to innovation in our industry to every single customer, and we are looking forward to the positive developments of NAP together with ABC as their carrier.

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    • Georges Bewer
    • VP EMEA for Airbridge Cargo
  • We as Aerotrans ,are offering neutral freight services to the trade and our customers are airlines , IATA agents and general freight forwarders .Neutral Air Partner is the right platform for our company to explore partnering opportunities with like- minded air cargo experts around the world ,and to develop new services and innovative products for our customers, We are allready seeing the results interacting with a number of members and we look forward to a long term relationship with NAP.

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    • Michael Jaench
    • Aerotrans Germany
  • Universal Global Logistics, S.A.U., attended the NAP kick off meeting in Abu Dhabi last September. UGL is one of the leading Spanish Freight Forwarders and belongs to Noatum Logistics, the logistics division of Marmedsa Noatum Maritime, present in Spain, Portugal, Turkey, Algeria, Morocco and Chile. “ We had the chance to gather another companies also specialized in airfreight industry, as well as in the different topics which this business include, such as cool chain service, AOG, dangerous goods, etc. As forwarding company we have strong presence in our market, being part of a freight purchasing pool stated in the 3rd position in Spanish IATA ranking , we find NAP network as a chance to develop every kind of air transport business among other specialist companies” says Sergio Escobar –Business and process coordinator for UGL.

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    • Sergio Escobar
    • Business and process coordinator for UGL.
  • I had the honor of attending the first NAP annual meeting held in Abu Dhabi, the organization, network and the topics addressed, fully satisfied our expectations, our group participated the event with 3 executives and we ve decided to support Neutral Air Partner in nine countries in Latin America where we have our own offices., we are looking forward to grow our air cargo business together with NAP in this new experience “ says Carlos Madama , VP of Grupo RAS - a leading freight & logistics group based in Latin America with 45 offices in 10 countries and 800 members in 5 divisions.

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    • Carlos Madama
    • VP of Grupo RAS
  • Attending the NAP global meeting in Abu Dhabi has been a great success . It has been a great pleasure to meet so many airfreight professionals whom understand the importance of being Neutral, whilst offering your service towards the forwarding industry.Within 2 months, we already have seen the benefits of our membership , and we are now able to offer more neutral freight services and consolidation solutions to our European customers “ says Ronald Sierat from N.F.S Airfreight ( Neutral Freight Service BV ) a leading and independent neutral airfreight wholesaler & consolidator based at Schiphol airport ( AMS ) main gateway for Europe.

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    • Ronald Sierat
    • N.F.S Airfreight
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