International trade seminar

Andrew Jackson Solicitors and Gateway Procurement have been working in partnership to provide a seminar focusing on “Incoterms 2020” and the mitigation of risks associated with international trade. 

 

The event took place at Andrew Jacksons Head office at Marian Court where our director Daniel Usifoh presented on how to mitigate the risks associated with sourcing from overseas. Daniel’s presentation covered these key issues: 

 

• Foreign exchange Risk: Hedging Types 

• Quality risks 

• Price shock risks: Price escalation/hedging/rebates 

• Inventory carrying risks/costs 

• Payment: letter of credit, risk ladder, insurance, milestones and credit checks 

• Supply Risks: Supplier assessment/ratio analysis 

• Ineffective Negotiation risks 

 

Daniel said “I really enjoyed presenting at the seminar, buying overseas can be a great source of competitive advantage but you do need to be aware of the risks associated with this strategy and how to mitigate these risks. Companies must not be put off from buying overseas it just requires some extra due diligence”