Spider-Freight-Network

The Spider Net Fund

Each member of the Spider Freight Network is bound to place a deposit in the Spider Net Fund.
This deposit is non-refundable.

What is covered by the Spider Net Fund?

Whilst membership each member is insured against insolvency of any other member.
The maximum liability is limited to an amount of US$ 10.000,- per case however this is based on net costs only and will not cover any profit.

Only the first case with a member is covered.

There is no coverage after announcement by Spider Freight Network about financial discrepancies of a member.

How do I know how Spider Net Fund is solvent?

We will publish an official bank statement that is accessible to all members of the Spider Network.

How do I proceed when I have problems with a member?

It is very important that you inform us about problems as soon as possible. First step will be the mediation between the parties leaded by an excepted Spider Network mediator. If this fails you are obliged to set up legal actions and the Spider Net Fund will overtake your net receivables in case of official insolvency.

Spider Freight Network needs all titles, documents and information to engage in such serious cases. After receiving all the documents and a detailed examination of the current situation and disclosure of the cost calculation for individual cases is made after deduction of a deductible of $ 500,oo the corresponding compensation.

Can anyone take the money from the Spider Net Fund back?

No, the deposited money earns interest and is used for hedging transactions between the various partners of Spider Freight Network. In addition to all those formal contracts it is our highest entitlement to accept only trusted companies as members and to supervise during membership.