GUF - PAYMENT PROTECTION SYSTEM

10.- PPS – Payment Protection System:

10.1 GUF Members will have a financial security plan which guarantees members payment for freight forwarding transaction between Members (hereinafter referred to as “PPS”. this is for the exclusive use between GUF Members only. No coverage is provided for transactions which involve non-members of GUF – GLOBAL UNITED FORWARDERS, the cost of PPS is USD 300 per member per year.

10.2 Members who find themselves in dispute(s) over non-payment by another Member may apply to GUF HQ for mediation.

10.3 Members are obliged to contribute to PPS annually. This contribution has to be made by all Members, including subsidiaries.

10.4 PPS is set up as a reserve for the Members to utilize in the event members encounter the non-payment with another Member. PPS serves as a form of compensation for the aggrieved party.

10.5 As Members, the minimum sum claimable under PPS shall be USD $1000 up to a maximum sum of USD $10,000. PPS has a ‘deductible’ feature. A ‘deductible’ is the minimum claimable sum before a member can file a claim under PPS.

10.6. In order to start with this PPS system we need clear total fund of USD 30’000 in GUF HQ account, that means contribution of 100 GUF partners (USD 300 X 100 = USD 30’000) in 1 one year, or for example 50 GUF in 2 two years. With less amount of USD 30’000 will not be possible to start the payment protection system; exact amount in GUF account will be constantly informed by GUF team via emails.

10.7 The monies held under PPS are limited to what is available for members to use. In the event, the monies held under PPS are fully utilized, and then there will be no further amount available for members. The PPS being the fund for members is limited to the amount available.

10.8 Members shall apply to GUF for mediation during which their matters will be heard by the GUF team to determine the outcome of the dispute. The GUF team in HQ will act independently and their decision on the outcome of the dispute is final.

10.9 In the event GUF is not able to resolve the dispute amicably between Members, GUF team will use its discretion to either dispense with the mediation and/or suggest to the parties that they find an alternative method of resolution.

10.10 Members are to note that the intention of the GUF is to facilitate and provide an amicable and effective resolution between Members.

10.11 The resolution of the dispute between parties shall be dealt with in strict confidence and documents or any form of materials used during the course of the resolution shall be treated with strict confidentiality.

10.12 Mediation may be in electronic mails and letters. GUF may require parties to provide documents for review in relation to the mediation.

10.13 Credit terms between members is 30 days. If any invoice exceeds 60 days, please notify GUF immediately for further follow up on your behalf.

10.14 All claims made by Members must be filed within ninety (90) days from the date of invoice.

10.15 No claims shall be accepted by GUF if the invoice is less than sixty (60) days old.

10.16 All pay-out from “Payment Protection System” for disputed cases/claims will make known to all members and GUF team will notify all GUF partners via email.

10.17 GUF must have 100 members or equivalent in money: USD 30’000 in PPS system in order to accept the claims, with a less amount or less members inscribed and cooperating with PPS - Payment Protection System as USD 300 per year, GUF can’t accept claims from the members, Total funds of all PPS will be always informed.

10.18 Members who don’t renew the membership will be out of GUF and they cannot claim their pending payments.

10.19 PAYMENT PROTECTION SYSTEM funds are not repayable; this fund is not redeemable and serves for all GUF active members who are current on their annual memberships.

10.20 GUF team & PPS system will accept maximum of 3 claims per year or equivalent of: USD 30’000 so, for example if 3 claims are for USD 10’000 we only can accept these 3 claims in this year and for next year in case of less amount of USD 30’000 we need to wait for contributions looking for total minimum amount of USD 30’000 in order to start again the payment protection plan.

10.21 Only 2 cases will be admitted per member per year or equivalent of USD 10’000 in total, so, for example if your first case is per: USD 6000 your second case per year just can be per maximum USD 4000 forming in total maximum of USD 10’000 per year.

10.22 PAYMENT PROTECTION SYSTEM funds will increase every year due new GUF members, exact amount will be informed at right time for the GUF team, so in the future is possible than GUF network can accept more quantity of claims per year and more cases per member, all will depends of total PPP funds in the GUF HQ account.

10.23 GUF Team will analyses all cases minutely in case of fraud we will report to all NETWORK ALLIANCES AROUND THE WORLD and around 25’000 agents worldwide.

10.24. GUF will be NOT available to accept any claim in 2016 year, because we must receive the PAYMENT PROTECTION SYSTEM funds in our account from all GUF members, in order to proceed with PPS system, also in 2017 Payment Protection System will be available depending of members number, we need at least 100 (ten hundred GUF partners) that already paid USD 300 as PPS, or for example 50 GUF members in 2 years, forming the total amount of USD 30’000 as PPS fund in year 2018.

10.25. PPS will cover pending payments between active GUF members, but PPS is not an insurance for goods damage, good lost, cargo damage or others similar damages between GUF members, PPS system only apply to PENDING FREIGHT INVOICES between GUF partners.