Business Times - 06 Sep 2008
SingPost warns of higher fees
SINGAPORE Post has warned of a potential increase in its net terminal dues payments for international mailing. This comes after it was announced at the recent 24th Universal Postal Union (UPU) Congress in Geneva, Switzerland, that Singapore would be reclassified as a Target Country (previously known as 'Industrialised Country') from the current category of Net Contributor Country for the purpose of terminal dues settlement. The change will take effect from Jan 1, 2010.
Terminal dues refer to settlements for the processing and delivery of international mail between countries. Singapore will have to apply the relevant terminal dues system from 2010 to 2013 and contribute to the UPU Quality of Service Fund. The group foresees an increase in its net terminal dues payments for international mailing as the dues payable by target countries are generally higher.
I guess small business who has been delivered packages through post will be badly affected. Luckily there is still 2 years time to make adjustment.
No comments:
Post a Comment