JVC, JBT Offer Memo Guide and Seminar
January 06, 09
The Jewelers Vigilance Committee (JVC) and The Jewelers Board of Trade (JBT) will hold a presentation titled “The Basics of Memo Transaction – The Do’s and Don’ts of Trading on Memo,” at the JA/NY Show.
A copy of “The Essential Guide to ‘Memo’ Transactions” published by the JVC will be distributed at the presentation. The guide covers consignment agreements, how to protect a business in an event of bankruptcy, frequently asked questions, a glossary of terms and more.
The guide was developed to respond to industry concerns about the consequences of sending goods on memo, the JVC said in a release. It gives jewelry firms a step-by-step method to best position their businesses in cases of economic reversals.
“Industry members need to be educated about the risks of trading on memo,” said Cecilia L. Gardner, JVC’s president, CEO and general counsel.
According to Dione Kenyon, JBT President, “As the industry’s established resource for credit and collections services, the JBT is pleased to join with the JVC in delivering this important information for credit managers as they evaluate the risks and protections associated with these programs….”
Registration for the January 19 seminar is not required.