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July 2009
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Let's focus on international! |
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Late payments have become worse throughout Europe during the first quarter of 2009. At the same time companies are having more and more difficulties obtaining guarantees for their customers to protect themselves against the risk of unpaid.
In some countries, the governments have implemented measures to help them : this is the case in France in particular, with the application of the LME - Law on the Modernisation of the Economy, designed to reduce payment terms, and the implementation of the CAP - Additional Public Credit Insurance and the CAP +, two tools for sharing the risk of credit insurers with the French government. If the CAP is generating little interest in the fashion sector, the CAP+ may catch your attention.
I invite you to read the articles below for more details on these two French particularities, the LME and the CAP+, which our clients will benefit thanks to FDI Logbox.
To get out of the crisis, many companies are focusing on their international business.
Now more than ever, FDI Logbox is supporting its clients with its network and assists them to develop their exports. For some of them, export is an essential source of additional revenue.
As a result, and as always to improve clients satisfaction and communication, we now offer a website in English, French, Italian, Spanish and German.
During the last season, we signed many new deals, and I would like to thank our clients for their trust. I will come back to you in September with the announcement of new client service innovations.
Have a pleasant summer!
Dominique Chatelin,
President & CEO of FDI Logbox
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News |
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• Shorter payment terms in France
As of the 1st January 2009, the LME - Law on the Modernisation of the Economy calls for the decrease of payment terms to 60 days net or 45 days end of the month. A temporary special dispensation is possible for specific industries : decrees have been published for sectors such as toys, jewellery, for instance.
In December 2008, eight professional textile organisations, including the Fédération Française du Prêt à Porter Féminin and the Fédération Nationale de l'Habillement, signed a temporary dispensation agreement concerning payment terms : that sets the payment terms at 75 days end of the month as of 2009, to be progressively reduced to 45 days end of the month from 1 January 2012, as stated in the LME.
• Additional Public Credit Insurance in France : CAP and CAP+
The French government has implemented the CAP and CAP+, two measures to share credit insurance risk with the government.
The objective of this implementation is to reinforce the guarantees against unpaids, as provided by credit insurance to suppliers, and while credit insurers must protect themselves during the crisis.
The CAP - Additional Public Credit Insurance allows to a supplier to round up his credit insurance if it is reduced; the CAP+ provides a supplier with a new guarantee against some risks that the credit insurer has decided not to cover. The Government draws on credit insurers to distribute these products, as part of a conventional agreement.
• FDI Logbox partners with the 'The Brandery' Trade Show
FDI Logbox has participated to the promotion of the new Spanish trade show 'The Brandery' during its first session from the 7th to the 9th July 2009 in Barcelona.
FDI Logbox invited its clients, partners, and also the agents their subsidiaries are in daily contact with, to join their Spanish team for a Speed Meeting on the theme of Fashion Networking.
This allowed brands and agents to meet and develop business projects.
• FDI Logbox website now available in 5 languages
All of the headings available on FDI Logbox international website are now also available in French: a description of the services offered, a detailed company presentation, the useful contact information, a heading on 'LOGBOX & FASHION', a section on 'PRESS & INFO', regularly updated News about the company, etc...
At the same time, the detailed description for each of FDI Logbox's solution is now available in Italian, Spanish and German.
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