WK Webster
THE MARINE & TRANSIT
CLAIMS SPECIALISTS
Los Angeles New York London Singapore
WK Webster

CARGO CLAIMS

Adjusting, Settling, Third Party Administration

WK Webster

RECOVERIES

No Cure - no pay, World Wide Recoveries

WK Webster

CARGO CASUALTY

Protecting Cargo in Terminated or Interrupted Voyages

WK Webster

HULL CLAIMS

Global 24/7, Casualty Response & Investigation

WK Webster

TRANSIT LIABILITY

Freight Forwarding, Haulage, Logistics, Risk Prevention

WK Webster

SHIP LIABILITY

P&I, F&D, Charterer's Liability

WK Webster

CARGO SURVEYS

Survey, Risk Assessment, Loss Prevention

WK Webster

H & M SURVEYS

Consulting Marine Engineers & Expert Witness

WK Webster - Reaffirms 10% No Cure No Pay Recovery Fee Scale

09 Jul 2018

WK Webster - Reaffirms 10% No Cure No Pay Recovery Fee Scale

Please see below a copy of our standard recovery fee scale.  This fee scale was first introduced over twenty years ago and in our opinion still offers the very best value for money in the market today.  Many of our clients and competitors are keen to see recovery fees fixed at a flat percentage, often at 15% of the gross recovery, and we also provide this fee scale to a number of clients, although it would be remiss if we did not remind the market that our standard recovery fee scale allows clients to enjoy a recovery fee rate as low as 10% for amounts we recover in excess of USD12,000.00.

 This means that once a recovery moves into the USD12,000.00 plus territory, our fees start to reduce considerably, and well below the customary market rate of 15%. 

 If you take this model and look at larger dollar cases, such as bulk commodities or high value containerised cargo, the savings are huge. For example, on a recovery of USD1M (not uncommon these days) the fees compare as follows:

  • WK Webster Fee = USD100,800.00 (10.008%) plus disbursements
  • Market Standard Fee = USD150,000.00 (15%)

 This would result in a saving of almost USD50,000.00 dependent upon disbursement levels.

 It is easy to see that our standard recovery fee scale across a book of business, or on one-off large recovery cases, is significantly lower than the market standard of 15%, and we would encourage all current or future clients to consider our standard fee scale in the first instance.  In addition, we also offer a very comprehensive on-line dashboard tool, available 24/7, unrivalled for its ability to assist in measuring both performance and assisting with account and risk management, all as part of the package, for no extra cost unless there are very specific bespoke requirements.



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