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Participants in the International Housewares Shippers Association (IHSA) continue to see significant savings, including a refund, for the second year in a row. In its first two years of existence, IHSA has saved members US$2.5 million in freight costs. At the conclusion of the association's fiscal year last May, the IHSA Board of Directors approved a refund of revenue in excess of actual expense. Each participate received a refund, depending on their level of participation.
The amount of the refunds has increased over the past year. In 2006, the total amount of refunds was $40,017.86, with $21.76 being refunded for very 40-foot equivalent unit (FEU) In 2007, this nearly tripled in size with the total amount of refunds growing to $108,781.99, with the refund per FEU being $49.40. The refund checks in 2007 ranged from a few hundred dollars to more than $10,000. As the level of participation increases, so will the amount of refunds given.
The IHSA is a not-for-profit association formed to benefit companies by leveraging its members' volume. IHSA negotiates freight contracts and partners with other logistics providers to lower supply chain costs. IHSA's primary function is to negotiate the lowest possible transportation rates and provide the highest quality service for all participating members.
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