Sashank RavindranathThis article has been updated as of 23rd August, 2021.
It’s been a year since the COVID-19 pandemic debuted and created panic across the globe, dramatically changing the way we live our lives.
The eCommerce retail industry felt the brunt of the pandemic’s impact, just like every other industry out there.
While many retailers had to shut shop temporarily, others scrambled to deal with the humongous surge in demand. As a result, eCommerce retail – especially the supply chain and post-purchase aspect went under the scanner.
And as if this weren’t overwhelming enough, businesses also faced challenges from shipping carriers through peak surcharges and a suspension on money-back guarantees which have almost emptied SMB owners’ purses in the form of shipping bills.
While peak surcharges are still levied on packages that are being shipped to certain remote locations, major shipping carriers such as FedEx, UPS, and Purolator reinstating their money-back guarantee for select service types is certainly some good news for eCommerce business owners.
What is the Money-back Guarantee Policy?
The Money-Back Guarantee (MBG) is a clause that is part of a shipping contract that stipulates that major shipping carriers such as FedEx, UPS, Purolator, etc promise to offer you a full refund on shipping charges if parcel delivery is delayed by even 60 seconds except in exceptional circumstances (natural disasters, weather delays, etc). Apart from the Money-Back Guarantee, shipping carriers offer refunds for 50+ service failures & billing errors including late, lost, and damaged deliveries, surcharge errors, etc.
And as you may be aware, due to disruptions in the global supply chain caused by COVID-19, all major shipping carriers around the world had suspended their Service Guarantee, also known as Money-Back Guarantee across all service types.
What are the Recent Changes Made to the Money-back Guarantees?
While continuous efforts are being made to restore normalcy in operations – carriers including UPS, FedEx, and Purolator have REINSTATED their Money-Back Guarantee for some service types, effective April 5, 2021.
The latest carrier to resume On-time Delivery Guarantees is Canada Post for parcels shipped within Canada. The delivery guarantees will take effect starting August 23, 2021.
This translates to more savings on your shipping bills, given that over 20% of all shipments faced delivery issues in 2020.
But first, you must stay in the loop of the select services that are now eligible for the money-back guarantee. And that’s why we’ve compiled them for you.
Want this list right in your device?
We’ve also presented the same as a downloadable document below for you to access the links and read more about money-back guarantee being reinstated from the carriers themselves.
How LateShipment.Com Can Help You
At LateShipment.com we are committed to ensuring that every dollar in refund claims is returned to you.
Throughout the pandemic, LateShipment.com has been monitoring and filing claims for 50+ service failures on your behalf. With the reinstatement of select Money-Back Guarantee claims, we will be able to recover even more claims (that’s even more shipping cost savings!)
Our automated parcel audit and refunds solution effortlessly audits your invoices and helps save up to 20% on your shipping costs. The best part is that it takes less than 2 minutes to set up and seamlessly integrates with your existing workflow.
That’s not all! Here are some more benefits of using LateShipment.com
- 50+ carriers supported – With customers in over 40 countries, we successfully claim refunds from carriers worldwide.
- Highly-trained algorithms – Our exclusive technology is built in-house with algorithms trained from tracking over 100M parcels.
- Human-backed automation – Our automated claims system is human-backed to ensure that you never miss any refunds.
- Maximum refunds recovery – Apart from common service failures, our systems are built to recover refunds for 50+ carrier errors.
- No upfront cost – Zero out-of-pocket costs for your business. Pay only a part of the refunds claimed.
- Refund claims for previous shipments – We don’t wait for you to ship out packages. Our systems can backtrack up to 45 days and claim refunds even for past shipments.
Feel like you’re missing out? Worry not, it is never too late to start claiming refunds!
Try LateShipment.com today now and save up to 20% on your shipping costs while providing memorable delivery experiences for your customers (It just takes 2 minutes).
Still doubtful? You can get in touch with us by scheduling a call with our expert or writing to us at sales@lateshipment.com
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