The ICA has delivered its new agent training to 79 local agents, brokers and merchants in Sao Paulo, Brazil.
The day-long, interactive course took place on 4 July, to coincide with the annual ANEA conference. Organised with the support of the Bolsa Brasileira de Mercadoria (BBM) and delivered by Kai Hughes (ICA Managing Director) and Derek Tanner (DAT Arbitration & Consultancy), the training focused on the responsibilities of agents under a cotton contract.
Launched in Bangladesh earlier this year, the training is designed to promote good trading practice and covers the behaviour of the cotton market and the application of ICA Bylaws and Rules. “We were very pleased with the take up rate in Brazil, which highlights the need for the training,” said Kai Hughes. “Agents have a very important role to play in the cotton supply chain and parties must be confident that their agents are acting legally and responsibly. To do this, agents must have a good knowledge of the ICA Bylaws and Rules and be in a position to advise their clients of their rights and responsibilities in the event of a dispute.
“Bringing agents into the ICA community is high on our agenda. As well as the training, we are also launching a membershipcategory for agents next month. As members, agents will be expected to uphold the ICA’s principles and refrain from doing business with defaulters or face being expelled from the Association. Agents attending our training will receive ICA certification and, if they go on to become members, it will be highlighted as part of their membership status. We want to create a safe trading environment and we believe that ‘educating’ agents and enabling them to become ICA members will take us a step closer.”
In August, the ICA will deliver three further agent training courses in South East Asia (20 Aug – Caravelle Hotel, Ho Chi Minh City, Vietnam; 22 Aug -Shangrila Hotel, Bangkok, Thailand; 24 Aug – Grand Hyatt Hotel, Jakarta,Indonesia).