Lito Colona, president of the Federation of Forwarders’ Association in the Philippines, Inc. (Fedfap) said that freight forwarders are granted a 30-day credit within which to settle their accounts.

More than 55 percent of the members of the Aircargo Forwarders of the Philippines, Inc. (AFPI) have already been accredited by IATA Philippines.

AFPI had implemented the Cargo Accounts Settlement System (CASS), an initiative by IATA, since 1995. However, freight forwarders had been at odds with the airlines because of the bond or bank guarantee imposed on them.

Colona said that bank charges which range from 9 to 15 percent per annum are eating up on their financial resources.

With the removal of the bank guarantee or bonds, "this is a big savings for freight forwarders and we could channel the money to other projects in our company," said Colona. Meanwhile, at least 12 members of the Federation of Forwarders’ Association in the Philippines (Fedfap) have finished the course on integrated logistics at the Ateneo Fedfap Institute of Logistics and Transportation.

Colona said the course is a regular program leading to a diploma in logistics and transportation management.

The objective of the program is to promote the best practices and transportation management among Philippine forwarders and third-party logistics providers.

The other programs and courses offered by the institute are certification programs for freight forwarders in international freight manage and trade facilitation.

Colona said the program which started in 2003 had already produced 43 graduates with certifications and qualifications to take a master’s degree in business administration (MBA) at the Ateneo University.

The leadership and management development program (LMDP) for logistics and transportation is a diploma course that integrates education in general management and leadership with training in various logistics and transportation functions.