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A tool is a valuable asset which sits on your company's balance sheet and should be used to deliver maximum benefit. When it is reused many times a tool is an investment that continues to deliver value.
MotionTouch offers a Tooling Storage & Insurance Service which provides clients with peace of mind by safeguarding their tooling - specifically those located in China.
Following a tooling risk assessment some clients decide to take more robust measures to protect their investment and house their tooling in a secure third party storage facility.
MotionTouch can provide a Tooling Storage Service working under an arrangement with Chinese government owned storage facilities in the following three locations:
Tooling is a key asset and therefore insurance is crucial - and tools located in China cannot be insured from the UK or USA.
MotionTouch works with established Chinese Insurance Providers to offer tooling insurance service and cover. Such Chinese insurance policies usually cover replacement tooling.
In order to arrange insurance a risk assessment visit in the form of a factory inspection or tooling location site visit is carried out. As standard, each of the partner factories that MotionTouch works with have already been inspected by Chinese insurance assessors, so availability of tooling insurance is assured. For a factory new to MotionTouch this inspection process can take a couple of weeks.
Once MotionTouch issue an insurance quote, it usually takes between two and four weeks from acceptance of the quote to finalisation and confirmation of cover.
For more information on our Tooling Storage & Insurance Service, please contact us for a quote.
All MotionTouch services are subject to contract and signature by both parties.