Financial Services

https://corystg.wpengine.com/files/finance-III-scaled.jpgCory Brothers offer centralised financial services for your global operations so that you can manage your funds with a single point of contact. Being able to control all your disbursements in one place, in one currency, removes the routine of processing multiple currencies and exchange rates. 

Eliminate the tedious task of screening your invoices for duplications, missing references and other errors. Cory Brothers’ disbursement checking service handles all queries for you so that you are only presented with a final statement for processing, saving you time and money. 

Our financial services are available around the world, even in challenging and problematic locations. We understand the importance of ensuring that your disbursements are available wherever they are needed, in whatever currency is required. You can rely on us to manage your funds for you. 

  • Cash to master.
  • Patrick Armstrong, Group Finance Manager at Cory BrothersDisbursement issuance and payment.
  • Experience in challenging locations.
  • UK centralised financial services.
  • Disbursement account checking.

Find out more about our financial services by contacting us today.

 

 

FAQs

Cash to master is the advancement and provision of international currency to the ship captain and crew for various needs, such as salaries and provisions. This is supplied as physical currency, delivered directly to the ship’s captain on board the vessel. 

A cash to master service includes sourcing funds from a local bank and transporting the monies to the vessel. There is a risk of interception so choosing a competent emissary is essential. Once onboard the vessel, the emissary will complete a handover procedure to ensure that safe receipt is documented.

Cory Brothers provide cash to master as part of our hub agency financial services. Contact us for more information today.

A disbursement account is utilised by a ship’s agent on behalf of a shipowner or operator for all monies paid out whilst in the port. This includes payment of all port fees, such as towage and pilotage, as well as cash to master, husbandry services and agency fees. 

The use of a disbursement account allows a shipowner to manage their port costs through a single account, whilst also being able to decentralise their financial operations by using an agent.

Cory Brothers provide disbursement account issuance and checking on behalf of our principles around the globe. Contact us for more information today.

A proforma disbursement statement is forwarded by the agent to the shipowner ahead of the port call. This details all the anticipated expenses for the port call and the agent’s commission. 

A final disbursement statement is forwarded by the agent to the shipowner once the vessel is ready to leave port. This details all the checked and confirmed (by the agent) fees for the port costs, husbandry services, agency fees, and any other expenses that have been incurred whilst the vessel has been in port.

Cory Brothers provide disbursement account checking as part of our hub agency financial services. Contact us for more information.

A disbursement is the payment of sums by a ship’s agent on behalf of the shipowner at port. This is then recovered from the shipowner’s disbursement account. Typical disbursements include payment of pilots, pods, towage, cash to master, husbandry services and agency fees. 

Disbursement accounts are used in order to decentralise financial operations from the shipowner by allowing an agent to manage this on their behalf. The agent will then check all incurred fees are correct before issuing the shipowner with their final disbursement statement.

Cory Brothers provide disbursement account issuance and checking on behalf of our principles around the globe. Contact us for more information today.

Global hub financial services provide shipowners and charterers with a single point of contact for all their monetary requirements. This allows them to leverage an agent’s network and remove the need to find, audit and contract financial partners in locations where they do not have a presence. 

Agents may leverage disbursement accounts in order to manage their principles’ funds through a single source. The agent will administer all port fees, cash to master, and other husbandry services that are incurred in port, presenting the shipowner with a final disbursement statement on departure. 

Cory Brothers provide global hub financial services. Contact us for more information.