Wholesalers Develop Payment Guarantees

DP's publication of a list of unreliable purchasing companies compiled by the Commerce Club met with a massive response. In the 2 days after publication (25 March) 15 faxes were received on the DP hotline (fax: 226 30 44) offering to exchange information.

<BR>DP's publication of a list of unreliable purchasing companies compiled by the Commerce Club met with a massive response. In the 2 days after publication (25 March) 15 faxes were received on the DP hotline (fax: 226 30 44) offering to exchange information. One trading company has a list of 600 clients across Russia known for failure to make payments, another has a list of 120.<BR>The manager of the Commerce Club working group that compiled the list, Azat Grigoryan, says that a system is already being organised to include more companies in the list, as well as a system whereby companies not belonging to the Commerce Club can access the list.<BR>At a joint meeting of the Commerce Club (wholesalers) and the Kupechesky Club (buyers) on 26 March, it was proposed that the latter find a system of joint guarantees for payment for deliveries. "We have to include the risk of non-payment in the price of a delivery. If the Kupechesky Club can offer a guarantee of payment on behalf of it's members, then wholesalers will match it with a special discount," said meeting co-chairman Roman Terentev.