COLLATERAL WAREHOUSING/ CONTROL
We accept materials upon request into our warehouses located at Cocoa warehouse compound, Plot 24 (Gate 2), Ladipo Oluwole Street, off Oba Akran Avenue by Guinness Bus-Stop, Ikeja, Lagos for custody under our In-House Warehousing arrangement and risk management services keeping same until we have received a written release authorization (Authority to Deliver) and a dual phone backup, detailing mode and subject of release.
To benefit from this service, the interested organization writes us requesting for the service and provides us with the necessary information on the nature (stackability), types/ quantities of items, size/ numbers of containers and the names(s) of the party(ies) to the transaction.
Direct importers bring materials to the warehouse for storage to our finished goods section. We also have a NAFDAC approved chemical section in our warehouse. We do not accept highly inflammable or combustible materials like Nitrocellulose etc. into our chemical warehouse. Also, there are open spaces for chemicals in drums. The material detail is sought using MSDS (Materials Safety Data Sheet) to understand more storage methodologies.
We manage goods stored in a warehouse other than ours (client’s warehouse).
Such warehouse must meet our technical requirements. This is called FIELD WAREHOUSING (Third Party warehouse) this service is only available to selected organizations with standard and secure warehouses in locations within Nigeria. However, it is important to inform you that before we embark on FIELD WAREHOUSING transaction, a PRELIMINARY WAREHOUSE INSPECTION CHECKS shall be conducted by us for FREE to Banks at no extra cost provided the location is within Lagos.
We have put in place a combined fire and theft Insurance policy no. CP64/7/000018/K19 with SUNU ASSURANCES NIGERIA PLC. The sum insured on fire and Special perils is ₦750 million while Burglary or Theft on first loss value of ₦150 million and an underlying value of ₦750 million.
The Extensions-Loading and Unloading risk is ₦10 million, Accidental damage of materials is ₦10 million.