Shipbroking errors can be made as fast as negotiations can be conducted. The immediacy of electronic communication can often lead to expensive mistakes since detail may be missed in the haste, often driven by other parties, to close deals.
Whilst it may be self-evident that the fail-safe approach to errors is to cross and cross-check; time pressures can often create less than perfect conditions for operational excellence.
Examples of errors that might be encountered include:
- misdirected demurrage statements - letter sent to wrong address; demurrage time-bar missed;
- vessel or cargo wrongly described - incorrect dimensions, specification or quantity;
- negotiation errors - failure to pass on the details of an offer;
- negligent statements;
- offer sent to the wrong email address;
- breach of warranty of authority;
- acting for a non-existent principal.
We’ve seen the problems before and we are here to help you. To get a quote for professional indemnity insurance please click here.
Everyone makes mistakes...
Is your business ready for the ‘worst case’ scenario?