FREQUENTLY ASKED QUESTIONS FOR THE GARFIN SYSTEM
WHERE CAN I FIND THE TERMS AND CONDITIONS.
To find terms and conditions go to https://horizon.garfin.co.za/Account/TermsAndConditions.aspx
WHO IS THE UNDERWRITER FOR THE GARFIN SYSTEM.
Horizon Marine underwriters, exclusive underwriting managers for the Lombard insurance company, are the underwriters for the Garfin system.
WHAT SORT OF ENTERPRISES CAN YOU MAKE USE OF THE GARFIN SYSTEM.
Freight forwarders, truckers, transporters, couriers etc. And anyone involved in the transportation of goods.
WHAT TYPE OF INSURANCE DOES THE GARFIN SYSTEM OFFER.
Marine insurance, goods in transit insurance, air cargo insurance.
HOW LONG DOES IT TAKE FOR THE QUOTATION TO BE ISSUED.
The quotation with a committed premium is issued online instantly.
HOW LONG DOES IT TAKE BEFORE THE POLICY DOCUMENT IS ISSUED.
The moment the credit card payment is confirmed the policy document will be issued immediately and automatically emailed to the client, to the broker and optionally also to the transporter.
WHAT METHODS OF PAYMENT ARE AVAILABLE FOR PAYING THE PREMIUM.
The preferred method of payment is by credit card. MasterCard and Visa are accepted. For premiums over 10,000 Rand, the option is also available to pay by EFT, but this has to be prearranged with the underwriter.
DO I HAVE TO BE A LICENSED FINANCIAL SERVICES PROVIDER TO USE THE GARFIN SYSTEM.
No, you do not need to be an FSP. When you register yourself as a transporter you need to link up with one of the brokers approved by the underwriter. All the business that you write will be under the aegis and the responsibility of that specific broker. When you send the quotation to a client, he will also receive an email from the broker stating that this quotation is based on the information that was given and that any queries should be directed to the broker.
ARE THE PREMIUM AMOUNTS THE SAME AS IF I WAS DEALING DIRECTLY WITH THE UNDERWRITER.
No. The Garfin system uses analytical underwriting. More information than through normal marine transactions are provided and that enables the Garfin system to charge lower premiums when there is less risk. For example a shipment without a transhipment will have a lower premium than one with a transhipment. Furthermore, premiums are lower as the underwriter is able to discount the premiums since no manpower or admin costs are involved on its side.
DO I EARN A REFERRAL FEE FOR MY EFFORTS.
Yes, you receive a referral fee from the broker. Further information on details of the referral fee are available from Mr Arnold Garber, firstname.lastname@example.org or + 27 83 261 3627.
WHAT GEOGRAPHICAL AREA DOES THE GARFIN SYSTEM COVER.
The insured party has to be South African domiciled. This is as at April 2020. This may change in the future. However the trajectory of the shipment insured could be international either to or from South Africa, or domestic within South Africa. Furthermore it could be a cross voyage shipment in other words where the goods depart from some place in the world outside South Africa and land also outside South Africa but the owner of the goods and thus the insured party is domiciled in South Africa.
ARE BOTH IMPORTS AND EXPORTS AND ALSO DOMESTIC INSURABLE.
Yes, the system covers imports, exports and domestic. The system does not function the same whether it is one type or the other but follows a different logical approach based on the information given.
WHAT MODES OF TRANSPORT CAN BE INSURED.
All modes of transport are supported including multimodal. In other words, for example, the land side journey on the country of origin could be rail, the long-haul could be airfreight or sea freight and the final land side could be road.
WHAT ARE THE MINIMUM AND MAXIMUM VALUES OF THE AMOUNT INSURED.
There are no minimum or maximum values of amounts to be insured. The minimum premium of the Garfin system, because it is online and does not involve any manpower or admin on the underwriters side, is very low. Only a few hundred Rand. Very large values would need to be approved by the underwriter but this will happen within minutes.
WHAT CURRENCIES ARE SUPPORTED BY THE SYSTEM.
For the insured value and the freight value, all major currencies are supported. US dollar, British pound, Euro, South African Rand and many others. The premium however, will always be South African Rand..
WHAT EXCHANGE RATE IS USED IN CALCULATING THE VALUE.
The exchange rate as published by South Africa’s banks as at close of business the day before the transactions made will be presented to the user. However, the user can override this (for example if he has bought forward cover).
WILL A SASRIA COUPON ALSO BE ISSUED TOGETHER WITH THE POLICY.
Yes, a SASRIA coupon will be issued provided the user elected SASRIA. Although the system defaults that SASRIA should be taken, the user has the choice to uncheck the block.
HOW WILL I KNOW WHAT THE CONDITIONS OF THE POLICY ARE.
All of the conditions will be clearly specified both in the quotation document as well as in the final policy document. The conditions are not fixed and will vary depending on the goods they are being insured, country of origin, mode of transport and many other conditions.
ONCE THE SYSTEM CALCULATES THE VALUE FOR INSURANCE PURPOSES CAN I UPLIFT THAT AMOUNT.
Yes, you can optionally uplift the value of the goods subject to a maximum percentage determined by the underwriter.
IS THE PREMIUM THE SAME FOR ALL COMMODITIES OR DOES IT VARY DEPENDING ON WHICH TYPE OF GOODS ARE BEING INSURED.
Premiums are goods specific. Some type of goods pay a much higher premium and other goods.
HOW DO I TELL THE SYSTEM WHAT TYPE OF GOODS AM I INSURING.
The system has a prebuilt list of commodities. They are numbered largely (but not always) matching the chapters of the Brussels nomenclature used by most customs officers in the world. As a user you need to choose one of those commodities but also key in your own description of the commodity.
HOW DOES THE SYSTEM AND THE UNDERWRITER KNOW SPECIFICALLY WHICH GOODS ARE BEING INSURED AND THE DATE AND TIME WHEN THE INSURANCE COVER STARTS.
When the process of making the payment request starts, it is necessary for the user to upload the commercial invoice. The commercial invoice will describe fully and in detail the goods that are being insured. When the payment is approved by the credit card system, the date and time is now determined. When the policy document is generated, it will include as one of its embedded pages the commercial invoice with a watermark on it specifying the policy number and the date and time that cover starts. Thus, there can be no misunderstanding I still which are the goods that are being insured, when did cover start or what are the conditions of insurance.
DO I NEED TO UPLOAD A COMMERCIAL INVOICE TO OBTAIN A QUOTATION.
No, to get a quotation you do not need to upload the commercial invoice. However, to request payment for the quotation it is necessary to obtain and upload the commercial invoice.
WHICH INCOTERMS ARE SUPPORTED.
All current INCOTERMS art supported.
WILL PREMIUMS BE DIFFERENT FOR DIFFERENT INCOTERMS.
Yes, different premiums will be applied to different INCOTERMS.
WILL PREMIUMS BE DIFFERENT DEPENDING ON AIRLINE, COUNTRY OF ORIGIN, MODE OF TRANSPORT ETC.
Yes, the basis of analytical underwriting is that premium varies depending on many factors. There could be a premium loading on specific areas of the world, a loading or discount on specific airlines. Even within a mode of transport the premiums may be different. For example, on road freight the premium will be different if it is an open truck or a closed truck.
HOW DIFFICULT IS IT TO COMPLETE ALL THE SCREENS NECESSARY TO OBTAIN A QUOTATION.
The process is simple and straightforward and anyone who has ever made an online e-commerce transaction will find the process simple and straightforward. There are information buttons throughout the system that give a quick clarification of the meaning and the requirements in each field. Furthermore, there are tutorial videos throughout the system, embedded in the system, which can be used by the user who wishes to be trained more deeply. However if that is not enough, any questions can be sent to email@example.com or WhatsApp or SMS to + 27 83 261 3627.
DO I NEED TO MAKE ANY PHONE CALLS OR SEND ANY EMAILS TO PRODUCE A QUOTATION, REQUEST PAYMENT OR ISSUE A POLICY.
No, the process is fully automated.
WHAT IS THE AVAILABILITY OF THE SYSTEM IN TERMS OF TIMES OF DAY, DAYS A WEEK.
The system is available 24x7. However, support is only available Monday to Friday from 09:00 until 16:00.
DO I NEED TO INSTALL ANY SOFTWARE TO START USING THE SYSTEM.
No installation of software is required. The system runs under most well-known modern browsers such as Microsoft Edge, Google Chrome, etc.
ARE THERE ANY SIGN ON FEES OR MONTHLY FEES THAT I NEED TO PAY AS A USER OF THE SYSTEM.
No, no fees are payable by the user.
HOW DO I MAKE ARRANGEMENTS TO RECEIVE THE REFERRAL FEE.
You will need to key in your bank details you will receive an EFT (electronic fund transfer) at the end of the month, of the month following the month in which you issued the policies. The broker will contact you for any details that may be necessary.
WHEN CAN I GET STARTED.