National and International Salvors
Chad Foster & Associates, LLC, represents several of the largest and most well-known carriers in the property and casualty insurance business, as well as national and regional retailers. Our personnel have been assisting in loss recovery for over twenty-five years, responding to catastrophes such as hurricanes, floods, fires, and earthquakes, throughout the continental United States, Caribbean Islands, and Southeast Asia.
Our experienced and dedicated staff will respond promptly, 24/7, to meet the needs of our clients. We value our long-standing relationships with our clients, and for our new clients, are happy to provide references upon request.
Available Services for Commercial Insured & Self-Insured
When the unexpected happens, a prompt response is essential. Whether the contents are affected by theft or physical harm, an experienced professional salvor can quickly assess the needs at hand, minimize the loss exposure, and expedite the insured’s resumption of business.
Our services include the following:
- Consultation On-Site
Are first-aid measures required to minimize damage and protect
exposed, but unaffected stock?
- Separation of Damaged From Undamaged Stock
Rely on our experience in determining whether an asset
has been damaged or is totally unaffected.
- Joint Physical Inventory
Knowing exactly what is on-hand and where an item is located are key factors in establishing a reliable inventory. Our experienced staff can determine the most cost-effective method of creating an accurate inventory with all the pertinent information recorded for the client’s needs.
- Post-Loss Theft Inventory
We provide a prompt joint physical listing for comparison to an on-hand perpetual inventory. We also insure adjustments are made for purchases and sales from the date of loss, so as to accurately identify any missing stock.
- Liquidation by Negotiation or Sealed Bid
Our experienced staff will consult with the client to determine the optimal method to procure the highest return. While market demand for a specific item plays a central role in securing the appropriate disposition of distressed goods, other considerations, such as legal and contractual constraints, must be considered. Our personnel have the experience and knowledge to secure the highest return while assuring compliance with policy protections for brands and labels and control of salvage clauses. Chad Foster & Associates, LLC, has a vast array of domestic and international market outlets at its disposal for distressed commercial stocks of every type imaginable.
- Removal for Better Protection, Warehousing
We can provide removal and warehousing as temporary loss mitigation for undamaged, exposed stock, or to preserve stock identity when ownership is at issue, or simply when additional storage space is required. We will work to find affordable accommodation for stocks within the size and time constraints best suited to the client’s needs.
- Appraisals for Stock and Equipment/Verification of Values
Through our own independent research, and in cooperation with experts familiar with valuation issues in the property/casualty arena, we provide fast, reliable, and documented appraisals of distressed stocks, commodities, and equipment. We are able to tailor our valuations to the specific needs of our clients, such as landed replacement costs, lowest selling price, actual cash value, or any combination thereof.
- Destruction or Defacing of Branded Stock and EDP
We provide supporting documentation establishing compliance with destruction or defacing of branded stock clauses. Our EDP (Electronic Data Processing) buyers are contractually bound to destroy data drives as required and to provide verification through photographs of removed and drilled hard drives.
- Scrap Metal Operations
Due to increasing demand for metal of all types, we are frequently able to enhance loss recovery through disposal of metal building, electrical, and plumbing components. Regardless of whether a loss is sustained by hail, wind, fire, water, or theft, our personnel can promptly ascertain whether scrap metal recovery is a viable mitigation option.
Regardless of the service performed, we provide our clients with written reports documenting our actions and our file expenses. We also carry a comprehensive umbrella of insurance coverage, including commercial general liability, excess liability, E&O, worker’s compensation, and automotive insurance. Certificates of coverage, as well as a rate sheet for our services, are available upon request at firstname.lastname@example.org.