What is the DRV Claim process?

In case a container has been lost and definitely cannot be returned or in case a container is damaged beyond repair, it is possible to resolve matters by claiming the Depreciated Residual Value (DRV).

You can claim DRV by using the Claims Manager on the deal page. Simply navigate to the Claims tab in the xChange deal page and click the New Claim button in the Claims Manager.

• If there are no damage claims filed yet, you will see the following:

• Once you click the New Claim button, you can see the claims submission form:

Alternatively, the Supplier or the User can reach out to the xChange team either on the leasing deal chat or directly by email at conops@container-xchange.com. 

What do I need to provide to open a DRV claim?

The Supplier should provide the following:

• Proof of  YOM (Year Of Manufacturing) such as:
  • CSC plates and/or the Manufacturing certificates

Once received xChange can calculate the correct DRV amount, based on the newbuild price, depreciation rate, and minimum replacement value stated on the leasing deal:

xChange will then issue an invoice to the user to complete payment of the DRV amount. After xChange issues the guaranteed DRV payment to the Supplier, we will also create a supplementary DRV-specific deal on the leasing platform for any valid DRV claims to continue calculating due per diems that are to be paid to Container xChange. The original deal will be marked as completed, and the related units will be marked as dropped off.

Important note:

It is worth noting, that both supplier and user should negotiate and reach a common agreement on the minimum replacement value set in the Leasing Deal, as you will not be able to dispute this at a later date. The Leasing deal terms agreed are binding.

If I am the user, and I would like to avoid a DRV settlement, what can I do?

Once the DRV Claim is officially submitted, it will be reviewed by the Claims Management team. In case of non-returned units, the User will be given 5 working days to provide proof that they are planning to return the units.

• If there is no proof provided within 5 working days, the User must pay the DRV amount. The invoice for the DRV amount will be created and charged to the User.
• If the units can be returned within the deadline acceptable for the Supplier, the User has to pay extra per diem charges until the redelivery of the containers.
• If the units can be returned within the deadline unacceptable for the Supplier, the User must pay the DRV amount. The invoice for the DRV amount will be created and charged to the User.

Once the DRV Claim is approved, the invoice for the affected containers will be issued.

The User must pay the invoice immediately after issuing.