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SCCI meets with Wholesalers

08th MAY 2015

SCCI CHAIRMAN MEETS WITH WHOLESALERS

The SCCI Chairman, Mr. Marco Francis and the SCCI Councilors met with the Wholesalers in a scheduled meeting, on the 6th of May in the SSCI Boardroom. The Wholesalers initiated the meeting to present SCCI with the issues that are affecting their day to day business operations.

One of the main points that were discussed was the issues of lateness or non-payments from retailers. Both wholesalers’ representatives present informed the SCCI Chairman that due to the defaults in payment by retailers, it is becoming more difficult for them to continue with their businesses, especially in the case of importation. It was also mentioned that the small wholesalers are pulling out of this business due to competition with the big wholesalers. They also pointed out that revising their contract of payment may have an impact on their sale, as the retailers have the freedom to buy from the bigger wholesalers where the payment can be more flexible.

The SCCI informed the representatives, that the Fair Trading Company was created to address these issues and there are regulations in place for that matter. Mr. Francis pointed out, that SCCI will work closely with the FTC to address and ensure that the regulations are being implemented.

The wholesalers pointed out that one major issue is that they are not totally protected under the law. They said that long judicial process makes it more difficult for them taking into considerations the fees they have to pay and the process does not always resolve as should be. Mr. Francis informed them, that the SCCI will be setting up an Arbitration Centre in the near future, so as to resolve disputes between businesses and have an out of court agreement.

Finally, Mr. Francis informed the wholesaler’s representatives, that SCCI in its power will assist all businesses, ensuring that the business environment is more feasible to all.

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