The Fruit and Vegetable Dispute Resolution Corporation (DRC) stresses the significance of thorough investigations during business negotiations. It’s crucial to steer clear of excessive risks and expenditures by using thorough investigation, which is essential to ensuring ethical business practices.

If you are dealing with clients in North America, the DRC recommends that you verify if the client is an DRC member. Members can benefit from the assistance from members of the Trading Assistance Staff, who will provide details on the status of the member and ensure confidence when dealing with business.

If a client does not reside within North America, the DRC might still be able to hold the information until its membership grows to different continents. Members’ transactions are now accepted regardless of the location or whether the item entered trade within North America.

Customers who aren’t DRC members or who do not already have a DRC arbitration agreements could put themselves at costs and risks should disputes occur. The DRC offers resources to resolve disputes that are costly and long-lasting.

Verifying references and requesting them is equally important as reference numbers that are not present or favorable can constitute indications of fraud. It is also crucial that anyone who contacts you on behalf of the company is an authorized representative.

Verify for phone numbers, addresses, staff, and check the EXACT the company’s name. It’s crucial to cross-reference the information with the DRC’s database and be aware of warning signs there.

If your customer or potential client are located within the United States, check out “The Perishable Agricultural Commodities Act,” also known as PACA. What is the status of the PACA licence can be obtained on this page..

Also, it is important to know whether the company that you trade with has a relationship to Blue Book Services. A rating indicates that the business has a membership or has enough activity that it appears in “the monitor screen.” If a company is not listed with a rating is not necessarily indicating that it’s business is “OK” but it may be a sign that the company isn’t an acceptable candidate for a rating or that the information in the file does not meet requirements for an assessment.

For more information about the company you are looking for and you need to know more about the company, credit rating agencies like EQUIFAX are a great resource.

Numerous disputes could be avoided by confirming with the DRC as well as ensuring that due diligence is practiced prior to the purchase. Everyone “takes the chance” at times but is it really worthwhile to take the risk? You might want to consider an DRC membership as a tool for risk reduction since the DRC is considered to be a reference for the business.

Are you planning to attend this year’s Global Produce & Floral Show in Atlanta? If so, members from the DRC would be happy to see you in the booth C2008.

For additional information, click here:

Nicole MacDonald

Fruit and Vegetable Dispute Resolution Corporation

Tel: (+1) 613-234-0982

[email protected]

www.fvdrc.com