Unclaimed Freight: Huge Savings Opportunity

• They can unpack the shipping containers, allowing the containers to be put back in service.
• They can place the freight in to a bonded store.
• They can auction and/or sell the freight.
• They can use the proceeds to offset all accrued cost.
• They can take any and all legal action determined appropriate to regain any financial loss.
• They can take any other steps allowed by law (either international, federal, state, and/or local) to recoup the loss.
• If the sale price does not cover the costs incurred by the shipping company, then there is provision in international law for action to be taken against the shipper.

Source: www.cebudailynews.inquirer.net

Before the shipping company can declare the freight unclaimed, they must make full effort to contact the appropriate party (customer, consignee, and owner). As per the information provided on the bill of lading, this can be by phone, fax, email, letter, or other preapproved communication methods.

Once this was done, especially if by mail, official notice will be consider to be the first day after it was sent. The carrier (in accordance with previous agreements) will return the unclaimed freight to the appropriate shipper; this is at the expense of the consignee, owner, or shipping company.

They will then dispose of the cargo in a manner as seen fit. If there were no special instructions in the bill of lading also known as B/L, or other contractual agreements, and they are not received in 10 days of notification, the carrier is free to dispose of the unclaimed freight. They too can do this by sale, auction, or simply discard it as trash with no liability, if all legal steps have been observed.

When there is unclaimed freight, the carrier should try to get an abandon and indemnification letter from the customer, owner, or consignee. This should be put with the bill of lading expressing the intention is to abandon the freight. Makes this statement of abandonment includes the release of all ownership rights.