Liquidity for detention and demurrage portfolios.
A reference for carrier AR, regulatory, and legal teams seeking liquidity and resolution on aged container charge portfolios.
Aged detention and demurrage portfolios accumulate cost long after the operational window has closed. Riffington acquires eligible claims as principal, removing them from the carrier's balance sheet and from active collections.
Typical claims
Detention beyond contractual free time and demurrage on carrier-owned containers, billed to shippers, consignees, or NVOCCs where privity is established by the bill of lading or service contract.
Compliance posture
Invoices must satisfy the FMC final rule on demurrage and detention billing (effective May 2024). They must be issued within 30 days, to the proper party, and include the required 13 data elements. Non-compliant invoices are declined.
How payment works
A redacted schedule is reviewed within three business days. On acceptance, an Assignment of Claims is executed and payment is wired. Recovery is the firm's responsibility, conducted through retained maritime counsel.