Freight Debt Protection (FDP) Plan brief introduction:

 

 

Pacific Global Association (PGA), we understand that even though we strictly screen new members, both old and new members may still have hesitation when starting a business.  In order to strengthen the reciprocal ties between members and provide additional security in the event of bankruptcy, we are introducing the Freight Debt Protection (FDP) plan.

 

This plan will protect FDP participant members from the debt owed by another fellow FDP participant in the event of bankruptcy.

 

Limit of Liability:  In the event of an FDP participant's bankruptcy, the FDP funding provides a limit liability maximum of US$10,000 for this participant's freight debt.

(Note: The limit of liability shall increase to US$20,000 after 3 years of participation)

​

In the event of a Diamond tier member's bankruptcy, the FDP funding provides a limit liability maximum of US$10,000, and, in addition, PGA will contribute an extra US$10,000 (Total US$20,000) for this member's freight debt, (Please refer to FDP plan Items 6 & 7)

​

FDP Fee:  Each participant contributes US$500 (Net receivable) annually to the FDP funding pools for this mutual program.  (Please refer to FDP plan Item 3)

 

Refundable: If an FDP participant withdraws participation in the FDP plan after three years of participation, there is no liability or compensation arising during the period, the member should receive a refund for the entire amount paid. (Please refer to FDP plan Item 4 a,b,c&d)

​

If a member withdraws participation in the FDP plan after three years of participation, however, if a liability or compensation arises during the period, the member may only receive a pro-rata refund.

(Please refer to FDP plan Item 4 a,b,c&d)

 

*** Please contact us for the detail's terms & conditions of the FDP Plan and download the original FDP Plan profile email us:  comm.mgr@pacificglobal.com