The Payment Guarantee service is a tool to combat late payment in transportation

In a time when the transport industry, like many other sectors, has to deal with the instability caused by the economic crisis and the consequent fall in demand for goods and services, it is impossible to ignore the problem of late payments and deliveries, often duly outstanding for a long time.

The default rate of companies in Western Europe now amounts to 5% according to the Crédito y Caución report. Almost 30% of the total of invoices issued by companies are paid after the due date. Delays in payments to domestic customers most often occur in Italy (37%). As regards foreign customers, the highest rate corresponds to Switzerland (39%). France, in turn, records the largest increase in the total average value of overdue national invoices .
Because of all this, the payment Guarantee service has become one of the most valued by the users of Wtransnet Freight and Truck Exchange since, at present, this is the only Exchange that allows to ensure the payment. Besides, it assures 90% of the invoice, a percentage well above the offered by most insurance companies.

But, how does the Payment Guarantee service exactly work?
This is an online service so you contract it easily before the trip is carried out and you can get from the application an instant feedback on the cost and a message indicating whether the contract has been successful. This is possible because all the companies offering freights in Wtransnet have previously been classified by the insurance COFACE who has given them credit  rating. When the haulier agrees to perform a service with the company offering the load, he should contract the Payment Guarantee by following four simple steps under this tool. With a cost of 1.51% of the invoice, in case of not being paid, Wtransnet Payment Incidences Department will claim the invoice saving time and money to the carrier.
The success of this service, which is increasingly more used among the users of Wtransnet Freight and Truck Exchange, lies in the immediacy of the contract and in the effectiveness when claiming the invoices but the carrier is the one who must contract the payment guarantee through the application and individually for each of the trips to be insured.

+ info: Wtransnet