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Annual BIFA Membership


subscriptions The time of year when BIFA asks for your continued support, is fast approaching! Trade Subscriptions for 2019 will be dispatched to you during December. Alongside your Renewal


Notice you will receive the Company Declaration, which must be signed and returned to BIFA. Before you sign the Company Declaration, we would like to remind you to ensure the information contained is correct or amended accordingly. Once again, after careful


Why you should not agree to exclude a lien from the BIFA STC


A question we are asked from time to time is whether there is a danger to the incorporation of the BIFA STC when the customer uses a factoring company for invoice financing. The short answer is ‘no’; however


it is important that all staff are aware that they should not waive the right to take a lien, which is something they can be asked to do by their customer on instructions


from the factoring company. We know of a BIFA Member that


was asked by one of its customers to sign and return a ‘no lien waiver’ document drafted by a factoring company it was using. The proposed agreement


stipulated the forwarder would not withhold delivery – that is, not to exercise a lien. The customer stated that it had asked all its carriers to sign the document and others had


already done so. Our advice to the forwarder was


to refuse to sign the document. The factoring arrangement was


under a contract between the customer and the finance company and should not concern the freight forwarder, so the need for exercising a lien – always a last resort – should never arise, but there is no reason why the forwarder should waive that right.


consideration, the subscription rates will remain unchanged for 2019. We would appreciate payment


as soon as possible after 1 January 2019 when a receipted VAT invoice will be issued. Remember that prompt payment keeps administration charges down and this is to the benefit of every Member. Please contact Jane


Robinson, Membership Supervisor, or Spencer Stevenson, Member Services Manager, at the Secretariat if you have any questions: j.robinson@bifa.org 020 8844 3635 s.stevenson@bifa.org 020 8844 3634


By sea – Hague Visby rules (2 SDR): £2.19 per kg £729.22 per package


By road – CMR (8.33 SDR): £9.11 per kg


By air –Montreal Convention (19 SDR): £20.78 per kg


January 2019


By air –Warsaw Convention (17 SDR): £18.59 per kg


BIFA STC: (2 SDR): £2.19 per kg


(The SDR rate on 13 December 2018, according to the IMF website, was 1.09382)


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