JVC and JBT launch 'Essential Guide To Memo Transactions'

The JA/NY show, which is slated to begin on January 19, 2009, will see a formal launch of the “The Basics of Memo Transaction – The Do’s and Don’ts of Trading on Memo”, presented by Jewelers Vigilance Committee (JVC) and The Jewelers Board of Trade (JBT). Attendees will receive a copy of “The Essential Guide to ‘Memo’ Transactions” a new publication in the JVC series of essential guides to legal compliance in the jewellery industry.

“The Essential Guide to ‘Memo’ Transactions” has been compiled as a reference of the risks and opportunities for the jewellery industry leaders who trade on memo. It includes information on: Consignment agreements and protecting one’s business in an event of bankruptcy, frequently asked questions, a glossary of terms and a step-by-step method for jewellery industry players to best position their businesses in cases of economic reversals more. It was developed to respond to industry concerns, especially now, about the consequences of sending goods on memo. Cecilia L. Gardner, JVC’s president, CEO and general counsel explained the initiative as the need of the hour: “Industry members need to be educated about the risks of trading on memo. JVC is delighted to partner with The Jewelers Board of Trade to produce “The Essential Guide to ‘Memo’ Transactions” – which explains how best to protect yourself and your business when sending goods on memo.”

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 programmes….”