The revised STC, unveiled in September, replace the previous version last updated in 2021. These have been developed in response to significant changes in the United Kingdom’s trading environment, including a marked increase in customs-related activities.
In addition, ongoing turbulence in global trade has heightened the level of risk faced by BIFA’s corporate members in the conduct of their business.
“Failing to implement an effective incorporation process will leave BIFA members unprotected against potential claims,” BIFA director general Steve Parker said in a statement.
“Effective incorporation means advising clients and liability insurers of the changes, training staff on the updated clauses, and considering any procedural changes required within their operations, “ he said.
ALCHEMPro News Desk (DS)
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