We welcome to our South Florida liveshot studio (servicing the Miami, Fort Lauderdale and West Palm Beach tri-county area) Jose Li, CEO of 71 LBS. Mr. Li was our guest live on Bloomberg TV discussing his company’s innovative way of keeping track and collecting refunds owed to customers from companies like UPS and Fed Ex.
71 LBS tracks those packages acting as an “industry watchdog” ensuring that small and medium sized businesses receive the refunds they are entitled to when such shipments fail to be delivered within the guaranteed time. Fed Ex and UPS both guarantee their shipment arrival dates and times. As Mr. Li points out, many businesses don’t claim their refunds and as a result, there is an excess of money (more than 2 billion dollars a year according to Mr. Li) that remain unclaimed. 71 LBS makes it easy for these small to medium businesses to claim their money as his company has automated their system to track this info and collect refunds.