At xChange we have established a number of processes and tools that ensure security and trust. Five elements stand out and are explained in detail below
1. Vetting process – xChange checks all members for background & references
2. Company profiles – you can check all partners’ profiles to review their performance
3. Contractual framework – a unified contractual framework ensures a level playing field
4. Payment handling – payments through xChange are secured and lightning fast
5. Tracking – all your containers are tracked while leased out, so you always know where your assest are
Comprehensive vetting process
We have a comprehensive verification and onboarding process. The verification of partners in the xChange Network serves to safeguard our network by ensuring that suppliers and users of containers are legally registered and reliable companies. Inspections of the companies are carried out by our own staff through on-site visits, face-to-face meetings and the collection of industry references. All members of the xChange Network need to go through our standard authentication and verification process. We ensure the existence and economic substance of every company on our platform.
Specifically we verify:
TEU moves per year
Company locations & existence of offices and subsidiaries.
Moreover we ask for certification and references from subsidiaries, partners and contractors. We know every company on xChange personally and at least one of our staff members in Hamburg (Germany) has talked to the company representatives via video-chat or personally on-site.
On xChange, every company has a profile with a large variety of information that helps you to verify that your potential partner is reliable. You can read reviews from other xChange members about the company. Each review is checked by one of our staff-members in Germany to ensure the accuracy. Moreover you can see how a potential partner is performing on xChange. In the xChange performance tab you can review how many transactions a company completed, how quickly they reply or if they keep their data up-to-date.
On Container xChange, every company has a profile with a large variety of information that helps you to verify that your potential partner is reliable. You can read reviews from other xChange members about the company. Each review is checked by one of our staff-members in Germany to ensure the accuracy. Moreover you can see how a potential partner is performing on xChange. In the xChange performance tab you can review every company based on:
- Pick-up performance: Shows how many of the requested containers are picked-up within 14 days.
- Drop-off performance: Shows how fast a company returns your containers relative to the freedays
- Avf. response time: Shows how quickly you can expect an answer from a company
- Number of transactions: Shows you the total number of transactions a company had on xChange
- Recent partners: Shows you with whom a company recently worked with
One agreement fits all
At xChange we have a universal agreement that makes it easy for companies across the globe to exchange containers on a one-way basis. No matter if you are a Trader, Leasing Company, Carrier or NVO – our BIMCO Multiparty Interchange agreement allows you to transact containers with anybody on xChange. No additional legal paperwork!
Want to be 100% sure to receive your money? Let xChange handle your payments. Just send your invoice to xChange—we check it for correctness and credit the invoiced amount directly to your account at xChange (less a 3.85% handling fee). Per diems and pickup credits are credited within 24hrs. In the case of repair charges and DRVs/replacement values we check with the partner first, collect the money, and then credit to your account.
This gives you a high degree of support (as the process is managed), cost savings (no international banking fees) and security (payment guarantee) at a low price.
Know where your containers are
Container xChange offers a comprehensive track-trace reporting for all container-moves of our members. We support all widely adopted market standards for system-to-system integration of container related events in the shipping industry. Our team integrates with your EDI or API within 14 days at no cost! Companies that integrate with our system are more successful, their data is always up to date and they can keep track of all their containers – even of container-moves outside of xChange.