The Fund is a project of Nigerian Shippers' Council which is the Federal Government parastatal charged with the responsibility to protect the interests of importers and exporters.
Following the numerous complaints recieved from Importers and Exporters over the years, the Council embarked on a series of studies handled by expert Consultants in order to identify those areas where shippers have suffered greatest loss.
The Council, on the recommendation of the Consultants that carried out the research registered a company limited by guarantee known as the CARGO DEFENCE FUND.
In a summary the set goals are to:-
- examine complaints, process and settle claims where applicable;
- to provide or set up Alternative Dispute Resolution Procedures for Nigeria's International Trade;
- examine risks faced by Nigerian Importers and Exporters which are not covered by the regular market and arrange appropriate cover for them;
- work with other Agencies local and International to consider problems faced by Nigerian Shippers and agree on how to solve these problems;
- to work with the Marine Offices Committee of the Nigerian Insurers Association to improve relations between the Assured, the Insurer and other related International Agencies e.g. the P.I Clubs, Lloyds etc;
- to hold enlightenment programmes on the Fund and activities of the Fund and to hold joint enlightenment programmes with other Agencies on issues of particular interest to Importers ad Importers e.g. the Awareness Seminars, Arbitration Workshop making Lagos a center for International Commercial Arbitration, and the Joint Seminar with N.I.A;
- to improve the capital base of the Fund by actively encouraging Shippers to subscribe, sale of books and materials published by the Fund, contribution from other Agencies and the investment of the Fund etc; and others.
Our vision is to ensure that shippers legitimate claims that are related to delay, loss, damage, or fraud are pursued conclusively to ensure redress in order to help shippers sustain their businesses.
The mission of the Cargo Defence Fund is to tackle successfully, problems associated with the abandonment of legitimate cargo claims.