In January of 2012, the Norfolk Southern Railway Company (NS) and MGM Business Partners, Inc. combined resources in order to efficiently and effectively outsource the sale, risk management, and accounting pertaining to NS railroad salvage. Railshippers, Inc. was born. Railshippers provides turnkey solutions which commence upon formal rejection of lading and continue through final disposition and collection of payment.
Beginning at formal rejection, Railshippers deftly assesses the value, forecasts and minimizes risks, and determines the appropriate resolutions for freight claim products. The experienced staff at Railshippers moves expertly to manage all elements of transfer, shipment and payment for lading requiring disposition. This process is executed so capably that minimal time and resources are invested by the NS. Payment and accompanying information is sent to the NS electronically as soon as disposition is complete.
Our Proven Business Model
Once we are notified of the formal rejection we implement a regimented internal process from discovery through execution:
- Inspect the salvage for quality or count when necessary.
- Determine the proper fitness for consumptive use.
- Have an internal group discussion to determine the best plan of execution.
- Identify the best sale opportunities, including a contingency plan.
- If the best sale opportunity doesn’t meet predetermined minimum criteria, return to step 3 for additional discussion.
- Sell the product then issue a sale contract that includes all terms and conditions agreed upon between buyer and seller.
- Transfer or recover product if necessary, deliver product to buyer, and monitor disposition throughout the process.
- Immediately collect payment from the buyer, complete all accounting functions and reconcile the file.
- Report predetermined segments of information and provide payment to rail partner (both handled electronically).
- Retain a completed file with all supporting documents which are available for audit at any time upon request.