On March 23, 2020 FedEx announced the suspension of the Money-Back Guarantee program for all FedEx Express, FedEx Ground, FedEx Freight and FedEx Office services as the onset of the COVID-19 pandemic began disrupting the shipping industry. The suspension of their Money Back Guarantee was implemented immediately and until further notice.
On Tuesday, April 6, 2021, FedEx reinstated their Money Back Guarantee after over a year of its suspension. Currently, the Money Back Guarantee applies to select Express services for US domestic and US import/export shipments using the following services: First Overnight, FedEx Priority Overnight, FedEx Standard Overnight, FedEx International First, FedEx International Priority, FedEx International Priority Freight.
As expected from UPS and FedEx’s history of acting in lockstep, FedEx’s Money Back Guarantee announcement comes one day after rival UPS reinstated their Service Guarantee. Both carriers have excellent performance records, hitting delivery targets 98% of the time. However, for high-volume shipping organizations, that 1 – 2% of the time that their packages are late can translate into a significant budget back to your bottom line.
The Money Back Guarantee program is one of the most significant points of negotiation and can easily be a powerful revenue source through Reveel’s Invoice Audit software feature.
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