Why is a 20% deposit required at the time of booking?
To ensure smooth processing and timely confirmation of your shipment, CargoWallet requires a 20% security deposit when you make a CargoWALLET booking. This deposit helps cover any potential variances that may arise once the airline’s final invoice is issued.
How does the deposit and reconciliation process work?
1. Initial Booking
You prepay the booking amount plus a 20% security deposit.
A 2% portal fee is applied (calculated based on the prepaid booking amount).
2. After Shipment Departure
Once your shipment departs, a proforma invoice (provisional invoice) is automatically generated in the system for your reference.
3. Final Reconciliation
When the final invoice from the airline and partner is received, the system automatically performs a reconciliation.
Any difference is adjusted as follows:
(Prepaid booking + 20% deposit) − (Final invoice for shipment) = Credit or DebitDepending on the outcome, you will either receive a credit (refund/offset for future use) or see a debit (additional balance due) on your wallet.
4. Improved Transparency
For all future bookings, you will receive an automated final invoice showing detailed adjustments per Air Waybill (AWB).
This ensures full visibility into how the 20% deposit was applied and settled.
We hope you find this article useful!
Note: Images shown here are for illustrative purposes only.
CargoAi reserves the right to change the actual screen layout without prior notice!