Platinum Plus Financial Protection
June 21, 2023
Platinum Plus Financial Protection is a fund controlled by our network which covers all of our members (Globalink Network & Global Value Network) against bankruptcy, insolvency, fraud, and bad debt. The coverage is tier-based with coverage that increases over time, rewarding members that remain in the network.
1-3 years of membership: $20,000.00 coverage
3-5 years of membership: $30,000.00 coverage
5- 10 years of membership: $40,000.00 coverage
10+ years of membership: $50,000.00 coverage
Platinum Plus Protection only covers branches listed in the directory, but we are now offering members the option to add Platinum Plus coverage to any unlisted branches for an extra $500 fee. For example, if you are unable to add a branch to the network due to unavailable slots, this extra fee would give this branch protection from Platinum Plus as you wait for a slot to become available.
We are proud to announce that we have also introduced credit monitoring on all existing members, keeping the network up to date of any major financial events among our entire membership, so we can be sure to maintain a safe, stable network of partners worldwide.
We are the only network that caps contributions to our fund at $5000.00 total, which is equal to 10 years of membership. We are the only network that caps these contributions, lowering your cost as a reward for being a long time member.
Where do the funds come from?
Platinum Plus is member-funded, and all members participate in our Platinum Plus Financial Protection program via an annual payment of $500 on top of the annual membership fees.
We are proud to say that we are the only network in the industry that caps contributions after a specified term, which is not the case with our competitors. Your contribution as a member is capped at $5,000 (10 years of membership), after which you continue to receive the benefit without making further contributions, lowering your annual cost by $500.
Is the coverage offered by Platinum Plus sufficient?
You may be currently considering which freight forwarding network to join, and trying to determine which financial protection is the best choice. We are proud to say that our protection program is sufficient, comprehensive, and competitive to any other network offering, which we determine via thorough market reviews.
A common thought pattern independent freight forwarders and logistic providers have is that the higher protection offered by a network, the better. We actually think this can sometimes be somewhat misleading. We believe that the best protection we offer to your company comes from the high standard of quality service we uphold among our members. We conduct thorough prequalifying on our applicants before joining, and because of the size of the network, we are able to pursue ongoing quality control of network members to ensure that members are professional and stable. We are also the only network that conducts credit monitoring of all members to anticipate any concerning financial issues, keeping us up to date on the status of all members, and creating a truly safer, more informed environment for all. This is totally unique to our networks and a major value add compared to any other network offering.
There is little you can do to build back trust with a client if your shipment is mishandled by a bad partner agent. Why join a network if you can't trust the members to effectively handle your client's business? Our Platinum Plus Protection program is in place to protect you in the worst-case scenario, we are here to support and protect all members before it reaches that point. This is our promise to all members. In the vast majority of cases, we are usually able to intervene and help resolve any disputes as a neutral party before resorting to a payout from the fund. We pride ourselves on the quality of our customer service, and always urge our members to reach out to us at the first sign of anything unusual so that we can offer our support, and come to a more favorable resolution for both parties. This is far better than just covering your losses and a damaged relationship with your client.
If you have any questions, please email willsiemens@glnk.com for more information!
We hope to show you the true difference in the quality of our networks, bolstered by one of the most comprehensive coverage programs in the industry.
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