BENEFITS OF THE NEW SYSTEM

1. Transit insurance bond information is available in a central database instead of being held on disconnected paper documents. Accurate management reports including information on overdue bonds can therefore be generated and up to date statistics made available in real time.
2. The use of electronic tracking devices in combination with GCNet/GCMS will make monitoring of consignments along the transit route much easier and more efficient. It will therefore not be necessary to mount escorts on transit consignments as they are transported through the country to the exit stations.
3. Bonds are automatically discharged. It is therefore possible to generate more accurate and reliable information on status of bonds.
4. Transit bond insurance information is electronically forwarded to Insurance Company and interested third parties. Insurance Company is therefore notified in real time when bonds are discharged.