Подольская Ю. 350 группа (1223719), страница 14

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Trading and brokerage operations in the world practice also include such activities as procurement, supply and sales and trading activity, mediated as a rule, contracts of sale and purchase. The companies involved in these operations are independent. Field of activity trade and intermediary firms is extensive. Mostly they are engaged in commercial activities, with major intermediaries and sometimes perform manufacturing operations, mainly related to the treatment of purchased and sold their goods, transportation, insurance, warehousing of goods. However, these functions follow the implementation of commercial transactions.

A huge number of transactions in international trade are done through intermediaries – trading firms, organizations and individuals that occupy an intermediate position between producers of goods and services and their consumers. From an economic point of view the concept of “resellers” is quite applicable to all of them.This concept is widespread in international commercial practice.

The main purpose of the use of intermediaries is to increase the economic feasibility and efficiency of foreign trade.

Trade intermediation in the economic sense is a pretty broad term. It includes a significant range of services. In particular, the search for a foreign company, preparing and committing a transaction, the lending parties and the provision of guarantees of payment of the goods by the buyer. The implementation of freight forwarding operations and insurance of goods during transport, customs formalities, advertising and other activities for the promotion of products to foreign markets, the implementation of maintenance and conduct other operations.

In modern conditions greatly expanded the functions performed by middlemen, due to the changing structure of trade and intermediary link. An idea of providing various kinds of services in the complexexpanded:

1. operations of the marketing — search of suppliers, the conclusion of transactions on behalf of the seller, guarantees the payment of the goods by the buyer, advertising campaigns and market research;

2. freight forwarding operations, transportation operations and cargo insurance;

3. trade financing;

4. technical services, after-sales maintenance;

5. collect and provide market information.

Expanding the functions of trade and intermediary firms is also carried out by implementing them in the manufacturing sector, i.e. the establishment of subsidiaries, branches, additional offices, including abroad.

Qualitative shifts in trade and intermediary level are characterized by the concentration of the vast majority of trade-intermediary operations in the hands of a few large trading companies, which carry out the whole complex of operations:

1. buy and sell for its own account;

2. financing operations (financial companies, communication with banks);

3. insurance (have their insurance companies);

4. transportation (have own transport);

5. maintenance (have their service centers);

6. production and processing enterprises have not only recycling, but also in other industries);

7. foreign operations (have branches abroad);

8. submission of dealer firms that focus on selling specific products (services).

Between half and two thirds of the goods involved in international trade become the share of reseller accounts. Resellers are relatively widely used in foreign trade of the United States, England, the Netherlands, Scandinavian countries and Japan. In Sweden, England, for example, they are used about 50% of foreign trade turnover.

The use of trade intermediaries creates certain advantagesfor foreignfirms, making them an important role in international trade practices.

The main advantage of using a reseller is that firm-exporter does not contribute any significant funds to the organization of the distribution network on the territory of the importing country, as trading and brokerage firms usually have their own material and technical base (warehouses, showrooms, repair shops), and sometimes its retail stores.

Another advantage of trading and brokerage firms is in the liberation exporter from many of the worries associated with the sale of goods (shipping to the country of the importer, sorting and packing, recruiting, adaptation to the requirements of the local market).

One important advantage is the use of capital trade and intermediary firms to Finance deals as based on short-term and medium-term lending. It’s very important to have strong business relations trade and intermediary firms with banks, transport, forwarding and insurance companies.

Finally, the markets of certain products (services) entirely monopolized trade intermediaries (e.g. brokers in UK) and cannot establish direct contacts with consumers. In this case, the use of the trading intermediary of the link is caused by the need.

The diversity of international trade and intermediary operations can be grouped into four types (table 1.3.):

Table 1.3 Trading and brokering

There are two types of transactions on the resale. In the first case a reseller has no special contract for the provision of mediation services as an exporter and importer. Resale operations are carried out in the framework of two independent contracts of sale. In the second case the merchant intermediary concludes with a manufacturer-exporter of special agreement-an agreement whereby the parties undertake reciprocal obligations associated with the sale of goods in a certain area. The international nature of trade-intermediary operations in this case follows from the fact that the goods sold on the territory of the country of the importer-buyer.

A kind of commission operations are consigned operations sale of goods to a third party is made from the warehouse of the consignee. In this case, the product for sale at the warehouse of the consignee comes at the expense of the principal-exporter. In the implementation of commission operations the commission agent is the mediator only from the point of view of the principal. The reseller enters into a contract of sale with the buyer.

All trade intermediaries can be divided into four types depending on whose behalf and for whose account they act:

1. brokers, who are not eligible to sign a deal with a third party intermediary that performs only the actual actions;

2. sales agents, attorneys - mediators, performing factual and legal actions for the sale of goods on behalf of and at the expense of the principal;

3. the commissioners, the consignees intermediaries, performing factual and legal actions for the sale of goods in its own name but for the account of the principal;

4. merchants, distributors, intermediaries, performing factual and legal action on the sale of goods on its own behalf and at own expense.

Brokers carry out actions aimed at finding a partner for the principal. The principal can be both the seller and the buyer of the goods. In case of execution of single instructions, the broker may work without a contract. If the broker is working with a client for a long time, their relationship is documented in an agreement. Size of brokerage fee usually ranges from 0.25% to 3% of the amount of the transaction concluded with it.

Sales agents, attorneys, unlike brokers, on behalf of the principal are committed not only to the actual operation, but also finding a partner under the agreement and the legal effect of signing the contract of sale of goods on behalf of the principal and at his expense.

All actions of the agents for the sale of goods are made pursuant to the agency agreement. The agency agreement shall include:

1. the powers granted by the principal to the agent;

2. the rights and obligations of the principal;

3. the rights and obligations of the agent;

4. the product and the territory in which the agent acts;

5. the term of agreement and termination procedure;

6. arbitration and applicable law;

7. agency fee.

On behalf of the other party (principal), on its own behalf and for the account of the principal commissioners shall make the actual and legal actions involving the purchase or sale of goods. A distinctive feature of commission operations is that the commissioner does not become the owner sold (purchased) product during any moment of time. Despite this, product liability towards a third party is the responsibility of the commission. The commissioner is not liable to the principal for failure to perform the transaction by a third party. However, the contract of commission may include a condition in which the commissioner shall cover the losses of principal payments of the value of the goods by a third party for an additional fee. Such an obligation is called a delcredere.

The consignees and trading intermediaries, like the commissioners, perform factual and legal actions involving the purchase or sale of goods in its own name but for the account of the exporter. They differ from the commissioners by the fact that they must carry out the sale of goods to third parties from its warehouse.

In addition to the parties to the contract, the following conditions stipulates in the consignment agreement:

1. the nomenclature and quantity of goods delivered on consignment to the consignee's warehouse;

2. the land on which the sale;

3. the consignment period and the term of the contract;

4. obligations of the consignee and the consignor under the contract;

5. minimum sales price of the goods;

6. terms of payment;

7. the remuneration of the consignee;

8. the procedure for the return of unsold goods. It should be noted that the consignment period and the term of the consignment contract is usually not the same. The second one is much larger than the first.

Distributors, merchants perform all factual and legal actions for the sale of goods on its own behalf and at own expense. Unlike distributors, merchants are not bound by the mediation agreements with any manufacturer-exporter of goods nor the buyer importer. Distributors, purchasing from the manufacturer is the exporter of the goods, conclude with the latest special distribution agreement, which sets out certain conditions for the procurement of goods from the exporter-producer and distributor sales to third parties.

Distributor agreement fixes the commercial relationship between the exporter and manufacturer of the product and the reseller-distributor. This would benefit both parties. Manufacturer-exporter gets the opportunity to enter new foreign markets, using the distribution network of the distributor. Distributor receives the technical support of the principal and, most importantly, with the purchase of the goods so-called dealer discounts that reach 20% or more of the value of the goods are given.

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