Intermediary+trade+partners


 * Intermediary Service Providers (also “participants” and “third party or service providers”) **

Intermediary third party participants (any party other than the buyer and seller or “principles”) can be called upon to handle functions requiring special knowledge, contact points and unique trade expertise. The approach is recognised in [|Measure 1.2 of UN/CEFACT Recommendation #18] (1) as a legitimate contracted party in supply chain management. An intermediary (also termed “trade partner”) role has also been recognized for purchasing and invoicing expert intermediary service providers (ISPs) able to prepare, process and expedite sourcing, award and payment between the buyer and seller. ISPs usually rely on e-documentation mechanisms and ensure full compliance with applicable law and regulation often using payment mechanisms that may are unfamiliar to the principles (buyer and seller). **// Some special intermediary trade partners //** // Purchase Agents // are empowered to act on the behalf of the buyer to obtain required products in a timely and cost effective manner that is in full compliance with all applicable laws and regulations. // Invoicing SPs // are contracted by the customer and sometimes the vendor to prepare and process invoices and sometimes the payments themselves in a manner also fully compliant with law (especially taxes) and regulation.

Invoicing SPs are normally given fiduciary responsibility by the buyer – and sometimes also the seller) for handling…

// Credit Bureaus // are used by both principles to assess performance & payment risk, obtain short term credit and in some cases to evaluate collateral security assets for long term financing. **// Other roles //** Intermediary trade partners can also maintain vendor accounts receivable, currency conversions, VAT and income tax payments. Invoice SPs may process reimbursement of customs duties, insurance premiums and sometimes shipping charges – each of the other third party service providers who are financial stakeholders in the commercial transaction. As a result, the list of purchasing participants can expand to… // international donor or lender organizations, // // collateral registry appraisers, // // credit bureaus, // // commercial bank guarantors, // // credit insurance providers, // // currency traders (conversion), // // local banks, // **// in //**// voice and payment service providers (SPs), // // shipping firms // // insurance providers for shipping & transit // // freight forwarders // // tax accountants // // freight expediters // // local transporters // // tax inspectors (invoice data), // // public sector tax & duty examiners and collectors, // // independent business auditors // // and the legal authority for collection of income tax //
 * Accuracy & Completeness of Product Specifications
 * Import/Export Licenses
 * Required invoice data (SEE Sample Invoice)
 * Customs requirements
 * Vendor credit and revenue accounts

Combinations of ISPs in the purchase invoice process are listed under __ Invoice Types & e-Invoicing. __ Areas in which ISPs are utilized can be found on the list of purchase __ stakeholders. __

E-Systems, __ streamlined invoicing types __, and the application of a Pro-Forma invoice can create the need for the specialized trade partners. The 3 & 4 corner invoice & payment model service providers, for example, whereby separate third party specialists are contacted to furnish invoice and payment expertise. The need may be the result of requirements for export licensing, tax reporting, customs documentation or bank guarantees. Intermediary Trade Partners bring their expertise to the transaction and should be considered for private sector purchasing. Their knowledge can improve quality of data, identify buyer deficiencies in the specifications and better safeguard items during transit. The ultimate advantage is improved user satisfaction with the product that is eventually delivered. And they can be recognized for providing:
 * Reduced risk of damage during shipment
 * Reduced opportunities for fraud, waste and abuse as a result of shortened processingtimes and a centralized, audited service provider
 * Increased use of standardized, simplified documentation and
 * Better harmonization of documents and processes between countries served by service providers for streamline invoicing and payment.

**//(1) Measure 1.2 Intermediary//** An intermediary who provides commercial and/or transport services within an international supply chain should be connected, where appropriate, to the framework contract between supplier and customer by way of a separate contract.