The Fortune Global Advocacy For Transparency and Compliance in Freight Forwarding
“Transparency and compliance are two cardinal principles upon which trust, mutual reliance, and lasting business relationships are built globally” (Kanayo Nnamani)
Transparency and Compliance
Transparency and compliance are critical aspects of freight forwarding. Freight forwarding involves the movement of goods from one location to another, and there are several regulations and laws that govern this process. To ensure that the process is carried out legally and ethically, freight forwarders must maintain transparency and compliance in their operations. Here are some ways to achieve this:
- Stay up to date with regulations: Freight forwarders must be aware of the regulations and laws that govern the movement of goods, both domestically and internationally. This includes customs regulations, trade agreements, and transportation laws.
- Maintain accurate documentation: Freight forwarders must maintain accurate documentation for all shipments, including bills of lading, commercial invoices, and customs forms. This documentation helps ensure that the shipment complies with all regulations and provides transparency to all parties involved.
- Partner with reputable carriers and suppliers: Freight forwarders must partner with reputable carriers and suppliers to ensure that the shipment is handled safely and legally. They should also conduct due diligence on their partners to ensure compliance with regulations.
- Use technology to track shipments: Freight forwarders can use technology to track shipments and provide real-time updates to customers. This helps maintain transparency and ensures that the shipment is delivered on time and in compliance with regulations.
- Maintain a strong ethical culture: Freight forwarders should maintain a strong ethical culture that emphasizes compliance with regulations and transparency in operations. This can be achieved through training programs and regular communication with employees.
The fact that international freight forwarding (especially when it involves Africa) is highly beleaguered by incidences of non-compliance and lack of transparency is hardly debatable. One of the major manifestations of the foregoing assertion is the demand for and payment of “facilitation fees.” Many stakeholders have argued for and against these sorts of payments.
The questions in these heated debates have been whether facilitation payments are acts of bribery, corruption or mere routine gestures aimed at tweaking clearly defined regulatory requirements or whether they are justifiable by any means or measurement. The truth remains the truth! Non-compliance and the absence of transparency; in fact, any act that contradicts morally justifiable standards in business – be it international freight forwarding or any other kind of business, is wrong and must be vehemently discouraged.
The foregoing points cannot be stressed enough but one thing remains constant for us at Fortune Global. That is the support for international laws and several ongoing global campaigns against bribery and corruption. This move is particularly critical, given that we have established business interests in many places where these anti-bribery/corruption laws are extant and fully applicable.
Looking for a dependable trade partner in Nigeria?
Do you wish to engage a trusted freight forwarder to manage all your import/export interests in and out of Nigeria and the West African sub-region?
If your business objectives include engaging a highly compliant and transparent 3rd party logistics provider to help you manage and coordinate your shipments in and out of Nigeria or across the 16 countries within the West African sub-region, then think Fortune Global…. With us, you can’t go wrong. Fortune Global is a member in good standing of TRACE International, since 2013 with registration number TC 4132-1874.
In line with her proven record of compliance and transparency, Fortune Global remains committed to maintaining a positive mindset among her employees; in her relationship with partners, regulators, and key stakeholders like you. Our strong commitment to best practice is aggressively in support of the ongoing global campaign against corruption, as well as promoting compliance and transparency through our day to day internal and external business conduct.