GLOBAL Logistics Shield (GLS), a global freight protection plan for independent freight forwarders, will be unveiled at The Freight Summit in Macau on September 21.

GLS provides cover against losses due to an individual company's inability to pay outstanding freight charges and is insured on international markets and supported by reputable underwriters. The fund is underwritten to provide US$1 million of cover.

"We are delighted that the Global Logistics Shield has chosen The Freight Summit to for its international launch. We will have more than 600 independent freight forwarders attending our event in September and GLS will provide valuable security and monitoring to our community of networks," said Nils Walle, director of RWS Solutions and organiser of The Freight Summit.

The GLS plan provides improved cover for companies compared to self insured schemes which have limited funds and security. GLS is neutral and independent of any network group, association or club. The GLS Timely Freight Payment Monitoring & Alerting Scheme allows users to monitor and validate payments and issue alerts when payments are overdue.

"For many years it has been a concern of many independent forwarders that they are vulnerable to losses incurred when another forwarder is unable to pay freight charges," said Rene Bendt, GLS, director.

Source: shipping online