Question 1

What is Container Deposit Fund and how does it work?

Accepted Answer

Container Deposit Fund is a web-based trade finance platform that provides 30-day container deposit financing to African logistics businesses so they can clear more cargo without tying up large amounts of cash in deposits. It works by putting up the container deposit on your behalf with the shipping line, then charging a defined fee for the 30-day facility, which you apply for and manage online.

Question 2

How much does Container Deposit Fund cost?

Accepted Answer

Pricing is based on the type of container deposit financing you use: 20ft local containers cost 32.50 USD for 30 days (up to 500 USD funding), 40ft local containers cost 65.00 USD for 30 days (up to 1,000 USD funding), and transit or other deposits are charged at 6.5% of the funded amount for 30 days (up to 10,000 USD funding). These are financing fees for the 30-day deposit facility.

Question 3

What countries does Container Deposit Fund operate in?

Accepted Answer

Container Deposit Fund primarily operates in East Africa, with headquarters in Nairobi, Kenya, and serves logistics operators moving cargo through African ports. The facility is explicitly available to clearing agents and consignees with cargo shipped through shipping lines operating at the port of Mombasa.

Question 4

How do I sign up for Container Deposit Fund?

Accepted Answer

You can sign up by opening an account and applying for funding through the web platform using the Open Account and Apply for Funding flows. As part of account opening, businesses are required to submit standard company documents such as an account opening form, board resolution, certificate of incorporation, tax PIN, CR12, and director IDs.

Question 5

Does Container Deposit Fund have a mobile app?

Accepted Answer

Container Deposit Fund does not offer a mobile app. Access to the service is provided via the web-based platform.

Question 6

Who is Container Deposit Fund best suited for?

Accepted Answer

Container Deposit Fund is best suited for logistics service providers, freight forwarders, shippers, clearing agents, and consignees in Africa who face cash flow strain from container deposit requirements and need short-term working capital to clear more cargo. It is particularly useful for businesses shipping through ports like Mombasa that regularly pay container deposits to shipping lines.

Question 7

How do I contact Container Deposit Fund support?

Accepted Answer

You can contact Container Deposit Fund support by emailing info@containerdepositfund.com. Relationship managers and customer service representatives are available to assist with referrals, applications, and general inquiries.

Question 8

Does Container Deposit Fund have a plan for teams or businesses?

Accepted Answer

Yes, Container Deposit Fund is designed for businesses and teams, offering account-based facilities for companies such as clearing agents, forwarders, and consignees. The onboarding process and required documentation are structured around corporate entities rather than individual consumers.

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