Shipping premium settlement

The core calculation logic of transportation insurance settlement forms the foundation of the entire process. The general formula is: Premium = Insured Amount × Insurance Rate. In international trade, Pengsou Logistics adheres to industry practices, typically calculating the insured amount as CIF/CIP price plus 10% to cover expected profits. The insurance rate is flexibly adjusted based on factors such as transportation method, cargo nature, and type of insurance. For instance, rates increase when transporting fragile goods or when clients opt for comprehensive insurance. Through precise calculations, Pengsou Logistics ensures the reasonableness and accuracy of insurance premiums.

Common settlement methods are applied in Pengsou Logistics' operations. In export business, three primary approaches are utilized. For foreign trade companies, income offsetting is a common practice where Pengsou Logistics assists them in reducing export sales revenue through insurance premium deductions, simplifying financial processing. The agency collection and payment method, frequently adopted by manufacturing enterprises, allows Pengsou Logistics to handle premium collection and disbursement on behalf of clients, ensuring clear and secure capital flow. Although price-extraneous fees are rarely used in practice, Pengsou Logistics has prepared to account for insurance premiums as part of its own sales expenses.

The final settlement process is rigorously implemented in Pengsou Logistics 'operations. First, the transportation contract explicitly stipulates premium-related regulations to safeguard both parties' interests. After cargo transportation, the carrier meticulously collects premium and related expense documentation to support subsequent accounting. Next, the carrier accurately calculates the premium amount and issues settlement documents. After the cargo owner carefully verifies and confirms the details, payment is made according to the agreed schedule and method. Finally, the carrier maintains detailed records of settlements and prepares financial reports to ensure every expense is traceable, supporting effective financial management.

In specialized scenarios, Pengsou Logistics has established comprehensive response strategies. For imported goods under FOB or CFR terms, the company typically enters into advance insurance contracts with insurers for automatic coverage. Pengsou Logistics directly calculates premiums based on CIF value. During customs declaration or invoice issuance, the insurance premium is incorporated into relevant pricing. In certain cases, the premium amount is explicitly noted in the invoice remarks section to ensure regulatory compliance.

In the transportation insurance premium settlement business, Pengsou Logistics Company has provided customers with comprehensive, one-stop services through precise application of core calculation logic, flexible selection of multiple settlement methods, strict adherence to settlement procedures, and proper handling of special scenarios. Moving forward, the company will continue to optimize service processes and enhance service quality, contributing more to the development of the logistics industry.