The Jewelers Vigilance Committee will present two seminars, “The Basics Of Memo Transactions – The Do’s And Don’ts Of Trading On Memo” and “Burma And Beyond – Operating Your Business In Today’s New Regulatory Environment,” at the American Gem Trade Association GemFair Tucson at the Tucson Convention Center.
The memo transaction seminar will take place in the Cochise Room at 9 a.m. and the Burma panel will be in the Mohave Room at 11 a.m.
“The Basics of Memo Transactions – The Do’s And Don’ts of Trading on Memo.” The seminar covers many of the important points included in JVC’s new guide, “The Essential Guide to ‘Memo’ Transactions.” Seminar topics include: Consignment agreements, protecting your business in an event of bankruptcy, the steps to take to check credit worthiness and more. The guide was developed with The Jewelers Board of Trade to respond to industry concerns, especially now, about the consequences of sending goods on memo. The guide gives jewelry firms a step-by-step method to best position their businesses in cases of economic reversals. Seminar attendees will receive a copy of the Memo Guide.
“Burma And Beyond — Operating Your Business In Today’s New Regulatory Environment” – JVC, and Douglas Hucker, AGTA CEO, provide up-to-the-minute information on the implementation of the recent Tom Lantos JADE Act which allows trade in rubies and jade from non-Burma sources, the importation and distribution in the U.S. of irradiated gemstones and much more. This seminar can help avoid interruptions in international business and will ensure understanding of legal obligations in this seemingly complex area. An international trade specialist from U.S. Customs and Border Protection will be on-hand to answer questions, and helpful written materials will be available.
“In these tumultuous times, it is very important for industry members to protect their businesses from risk,” said Cecilia L. Gardner, JVC’s president, chief executive officer, and general counsel. “Two legal compliance issues—one old and one new—are especially important to AGTA members and the color gemstone community right now; the risks of trading on memo and recent implementation of the Tom Lantos JADE Act.”