JVC and JBT publish 'The Basics of Memo Transaction'

The Jewelers Vigilance Committee (JVC) and The Jewelers Board of Trade (JBT) are preparing to present attendees of the MJSA Expo with “The Basics of Memo Transaction – The Dos and Don’ts of Trading on Memo”. The event is slated to be held at the Jacob Javits Convention Center, New York City.

JVC has also prepared a new publication namely, “The Essential Guide to ‘Memo’ Transactions”, which it shall present to those attending the event. This Guide features: Consignment agreements and notes on protecting one’s business in an event of bankruptcy, frequently asked questions, a glossary of terms and more. The Guide was developed to respond to industry concerns, especially now, about the consequences of sending goods on memo. It provides a step-by-step insight to jewellery companies on how to best position their businesses in cases of economic reversals.

Cecilia L. Gardner, JVC’s president, CEO and general counsel said that the; “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.” Adding to this, Dione Kenyon, JBT President said, “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….”