ICA Delivers ‘Agent Training’ in Brazil

By Jim.Robinson|July 25, 2012

The International Cotton Association (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 July 4 to coincide with the annual ANEA conference.

Organized 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 program is designed to promote good trading practices and covers the behavior 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,” Hughes said. “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. [In addition to] the training, we are also launching a membership category for agents next month. As members, agents will be expected to uphold ICA 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, this 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.”