Why Cases Of Unclaimed Freight Have Been On The Rise

The hectic nature of the various Shipping companies makes cases of loss of cargo very common. The huge crowds of people characterizing these areas cause the cases of unclaimed freight to increase. Also due to hitches in the process of delivering goods purchased online, cases of lost items have in the recent past been on the rise.

In most cases, uncollected cargo is shipment from a manufacturer or distributor that was left uncollected or lost. These items are mostly newly manufactured items that are lost or delivered to the wrong place. In most cases they are unused goods which could even have tags on them. The loss of these goods easily result to losses of huge amounts to the owner.

Some of the reasons why cargo lack owners in most cases include death, increased taxes among other reasons. When this cargo [s uncollected, the goods are auctioned. Given the fact that no one would spend so much money to ship worthless goods, most of these auctions are very intense with large numbers of people bidding on the quality goods. The proceeds from the auction are paid to the storage company, the shipping container company and the remaining amount is paid to the initial owner of the goods.

In cases where the owner is under investigation and maybe all his assets are frozen, goods can easily get auctioned for being unclaimed. This is because failure to pay or get the goods in time only gives the shipping companies the authority to auction the goods. In other cases, the goods could have been used in illegal dealings without the knowledge of the owner. The good are thus held up in the warehouses awaiting investigations and once completed, the shipping companies may opt to auction them.

Sometimes, the owners of these goods may be deep in debt which makes them unable to pay for the imported goods. They may find it easier to abandon their freight other than pay for all costs required to clear the goods from the ports. By abandoning their freight, the shipping companies are given the right to sell the goods to willing buyers.

Also, sudden death of the owner before the goods arrive may render the goods unclaimed. If no family member neither follows up nor has any knowledge that the diseased had imported any goods.At times, the individual may go out of business and may no longer need the items imported. If the items are not collected, they are left in the hands of the shipping companies.

As long as the goods are left unattended it can be sold or auctioned. If the shipping company does so, the owner has no legal option to sue the company or claim the goods.Many individuals make huge losses by leaving their cargo unclaimed.

Shipping companies should always be ready to have cases of uncollected freight. They should always have reliable auctioning companies to clear out the huge stacks of these cargo. This not only clears them to create space for new arrivals but also ensures that they protect themselves from any legal losses they may get into by being in possession of the freight.

You can visit nationalunclaimedfreight.com for more helpful information about Reasons For Increased Cases Of Unclaimed Freight.

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