Net4Log Freight Protection Plan
Protection for Trusted Partners against unpaid freight invoices from insolvent or bankrupt trading partners.
Net4Log Freight Protection Plan (FPP) is a member-funded protection pool available exclusively to Trusted Partners of Net4Log who opt into the plan. It safeguards participating Trusted Partners against financial losses arising from unpaid freight invoices when a trading partner becomes insolvent or bankrupt. Cover applies only to Trusted Partners who have opted into the FPP and paid the annual FPP contribution, and claims are settled from the FPP Fund, subject to the plan's terms and limits.
How does it work?
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1.Contribute
Trusted Partners who opt into the Freight Protection Plan (FPP) pay an annual FPP contribution to Net4Log to cover the risk.
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2.Build the fund
The contributions form the FPP Fund, which is held in a separate account, audited, and managed by the FPP Management Team.
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3.File a claim
If a trading partner becomes insolvent or bankrupt, the affected Trusted Partner, if opted into the FPP, can file a claim with the FPP Management Team.
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4.Investigate
The FPP Management Team investigates the claim and determines whether it is covered by the plan.
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5.Notify members
The FPP Management Team notifies all network members of the final decision on the claim.
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6.Settle
If the claim is approved, it is settled from the FPP Fund (see note below on small claims).
Note: Approved Freight Protection Plan (FPP) claims of $1,500 or below are settled by way of a credit note, usable only against future membership fees, to avoid wire fees on small amounts. All claims are settled on a first-come basis, and total settlements will not exceed the available balance of the FPP Fund.
Frequently asked questions
01What is the Net4Log Freight Protection Plan (FPP)?
A member-funded protection pool that safeguards participating Trusted Partners from losses on unpaid freight invoices when a trading partner becomes insolvent or bankrupt.
02Who is eligible for the Freight Protection Plan (FPP)?
The FPP is available only to Trusted Partners of Net4Log. To be eligible to claim, a Trusted Partner must opt into the FPP and pay the annual FPP contribution.
03How does the Freight Protection Plan (FPP) work?
Trusted Partners who opt into the FPP pay an annual FPP contribution into the FPP Fund. If a trading partner becomes insolvent or bankrupt, the affected Trusted Partner can file a claim. The FPP Management Team investigates it and notifies all members of the decision. Approved claims are settled from the FPP Fund.
04Are there limits on Freight Protection Plan (FPP) settlements?
Yes. Claims are settled on a first-come basis, and total settlements will not exceed the available balance of the FPP Fund. Approved claims of $1,500 or below are settled as a credit note against future membership fees rather than paid out in cash.
05Is the Freight Protection Plan (FPP) an insurance policy?
No. The FPP is a protection pool funded by the annual FPP contributions of participating Trusted Partners and managed by Net4Log. It is not an insurance product, and settlements depend on the funds available in the FPP Fund.
