Cases
Freight for a shipping line: a payment on its own vessel
MaritimeFreightRate agreed in advance
A shipping line was paying freight for its own vessel: the payment called for a route built around a specific recipient and the currency of the contract.
The problem
- The freight payment had to go to a specific recipient, in the currency of the contract
- The client needed a rate that was known before the operation started
- Freight payment delays are critical for a line's operations
What we did
- Agreed the rate on the freight payment before the operation started
- Followed the payment through until the funds were credited to the supplier
- Ran the payment under the shipping line's contract
The result
- The supplier confirmed receipt of the freight payment
- The payment went through along the route and at the rate agreed before the operation started
- The line closed the settlement for freight on its own vessel
Takeaway
Freight for the line's own vessel was paid through a route built around the recipient and the currency of the contract, at a rate agreed before the operation started.