A Bit About Us
What is CDF?
The Container Deposit Fund (CDF) is a product that caters to importers and forwarders who are looking for an affordable and convenient way to overcome the cash flow strain that container deposits put on their businesses. We guarantee our clients container deposit needs by putting up the container deposit on their behalf. In exchange we charge a nominal fee.
Why should I choose CDF to fund my container deposit needs?
Value Preposition
Value to Forwarders/Clients
Funds used to pay deposit can now be used to fund other costs
Money saved as a result of not paying demurrage/storage
Capacity to handle more clients/cargo because of increased liquidity
Increased speed of operation due to time saved raising capital
Ability to compete with more established players who hitherto had a comparative advantage
owing to their ability to quickly raise deposit funds
Ability to invest money saved in essential infrastructure such as trucks, storage facilities, yards
Why should I choose CDF to fund my container deposit needs?
Value Preposition
| Value to Forwarders/Clients |
|---|
| Funds used to pay deposit can now be used to fund other costs |
| Money saved as a result of not paying demurrage/storage |
| Capacity to handle more clients/cargo because of increased liquidity |
| Increased speed of operation due to time saved raising capital |
| Ability to compete with more established players who hitherto had a comparative advantage owing to their ability to quickly raise deposit funds |
| Ability to invest money saved in essential infrastructure such as trucks, storage facilities, yards |
Who can access CDF?
The CDF facility is available to all clearing agents and consignees with cargo shipped through all shipping lines operating at the port of Mombasa.
How much does it cost?
CDF charges a competitive fee per transaction on per bill of lading basis. CDF does not offer part
financing of container deposit. All funding is done in accordance with the number and type of containers
as per BL.
Type of Container
CDF Fees
20 ft. Container
USD 25
40 ft. Container
USD 50
Transit
5% of container deposit required
*CDF does not fund local import charges or freight items to collect charges. These shipping line invoice
items remain the responsibility of the Importer/Forwarder. To be sure what proportion of your
shipping line invoice is eligible for funding, look for the figure labelled “Local Deposit”.
How long does it take from application to funding?
If your application is successful, CDF will furnish you with bankers cheques equivalent to the container deposit requested in the shipping line invoice within 24 hours.
Terms and Conditions
Container Deposit Enterprise Ltd funding is disbursed strictly for a period of thirty (30) days for both local and transit containers.
Funding not refunded within the aforementioned period, will automatically attract a rollover fee of 5% of the outstanding amount.
Rollover fees will continue to accrue every thirty (30) days or part thereof until such a time as when funding disbursed has been recovered.
What are the account opening requirements?
- ACCOUNT OPENING FORM – Dully filled out account opening form, signed and stamped
- BOARD RESOLUTION TO OPEN AN ACCOUNT – Executed on company letterhead. And signed by at least two (2) directors (draft resolution attached to the account opening form)
- CERTIFICATE OF INCORPORATION – Clear copy
- PIN CERTIFICATE FOR COMPANY – Clear copy
- CR12 – Not more than two (2) years old
- COPY OF IDS FOR ALL DIRECTORS – Front and back must be legible
What are the facility application requirements?
- CONTAINER DEPOSIT FUNDING APPLICATION FORM – Dully filled out facility application form, signed and stamped
- SIGNED AND STAMPED TERMS AND CONDITIONS PAGE – signed by a director
- COPY OF BL TO BE FUNDED – Clear and legible
- COPY OF SHIPPING LINE INVOICE – Clear and legible
Upon receipt of a complete set of facility application documents, your facility request will be evaluated and you shall receive communication via email notifying you whether your application has been successful or not.
If your application is not successful, you shall be notified regarding the amendments that you need to make to have the application accepted.
If your application is successful, you shall receive an invoice requesting payment for the service as well as the payment details. Below is the Checklist for the documents required to collect your funding at the CDF counter;
Cheque Collection Process
- PROOF OF PAYMENT FOR THE INVOICE – Either M Pesa confirmation or bank deposit slip
- DIRECTORS GUARANTEE – Draft attached to the invoice. Should be executed on company letterhead and signed by at least two (2) directors.
- 30-DAY POST-DATED COMPANY CHEQUE OF AN EQUIVALENT AMOUNT TO THE FUNDING ADVANCED
Proceed to the CDF counter to collect your bankers cheques!
The CDF facility is available to all clearing agents and consignees with cargo shipped through all shipping lines operating at the port of Mombasa.
How much does it cost?
CDF charges a competitive fee per transaction on per bill of lading basis. CDF does not offer part
financing of container deposit. All funding is done in accordance with the number and type of containers
as per BL.
| Type of Container | CDF Fees |
|---|---|
| 20 ft. Container | USD 25 |
| 40 ft. Container | USD 50 |
| Transit | 5% of container deposit required |
How long does it take from application to funding?
If your application is successful, CDF will furnish you with bankers cheques equivalent to the container deposit requested in the shipping line invoice within 24 hours.
Terms and Conditions
Container Deposit Enterprise Ltd funding is disbursed strictly for a period of thirty (30) days for both local and transit containers.
Funding not refunded within the aforementioned period, will automatically attract a rollover fee of 5% of the outstanding amount.
Rollover fees will continue to accrue every thirty (30) days or part thereof until such a time as when funding disbursed has been recovered.
What are the account opening requirements?
- ACCOUNT OPENING FORM – Dully filled out account opening form, signed and stamped
- BOARD RESOLUTION TO OPEN AN ACCOUNT – Executed on company letterhead. And signed by at least two (2) directors (draft resolution attached to the account opening form)
- CERTIFICATE OF INCORPORATION – Clear copy
- PIN CERTIFICATE FOR COMPANY – Clear copy
- CR12 – Not more than two (2) years old
- COPY OF IDS FOR ALL DIRECTORS – Front and back must be legible
What are the facility application requirements?
- CONTAINER DEPOSIT FUNDING APPLICATION FORM – Dully filled out facility application form, signed and stamped
- SIGNED AND STAMPED TERMS AND CONDITIONS PAGE – signed by a director
- COPY OF BL TO BE FUNDED – Clear and legible
- COPY OF SHIPPING LINE INVOICE – Clear and legible
Upon receipt of a complete set of facility application documents, your facility request will be evaluated and you shall receive communication via email notifying you whether your application has been successful or not.
If your application is not successful, you shall be notified regarding the amendments that you need to make to have the application accepted.
If your application is successful, you shall receive an invoice requesting payment for the service as well as the payment details. Below is the Checklist for the documents required to collect your funding at the CDF counter;
Cheque Collection Process
- PROOF OF PAYMENT FOR THE INVOICE – Either M Pesa confirmation or bank deposit slip
- DIRECTORS GUARANTEE – Draft attached to the invoice. Should be executed on company letterhead and signed by at least two (2) directors.
- 30-DAY POST-DATED COMPANY CHEQUE OF AN EQUIVALENT AMOUNT TO THE FUNDING ADVANCED
Proceed to the CDF counter to collect your bankers cheques!