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Switch B/L Business Has an Element
of Fraud Involved!!
WCA Warning
The WCA will not involve itself in Switch B/L
business due to the element of fraud, regardless of
how big or small that may be.
There are high risks to agents that involve
themselves in this, especially at destination. If we
receive any complaints, while we will not involve
ourselves, we will make note on the members records.
If we receive any further complaints we may have to
consider the agents membership status.
We were advised by a reputable maritime law firm to
stay away from Switch B/L, as they do contain this
element of fraud, and as we have seen many issues on
this, it is good advice. Please note that any cargo
movement involving a Switch B/L is NOT covered under
the Gold Medallion Financial Protection plan (see
paragraph 3, subparagraph (f) and paragraph 4,
subparagraph (k) due to the element of fraud. Also,
a violation of the Code of Ethics (see paragraph 9).
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