International Business Newsibnewsmag.com/wordpress/wp-content/uploads/2018/08/...waterless, clean...
12
International Business News July-August 2018 Practical Tips Getting Paid for Exports SEVO Systems In this issue: Tips for Getting Paid / Computerized Auto Search / Country Profile: Belgium Meghan Lovetere, SEVO Systems Finance Manager SEVO’s Force 500 Fire Supression Unit
Transcript of International Business Newsibnewsmag.com/wordpress/wp-content/uploads/2018/08/...waterless, clean...
International Business NewsJuly-August 2018
Practical TipsGetting Paid for ExportsSEVO Systems
In this issueTips for Getting Paid Computerized Auto Search Country Profile Belgium
Meghan LovetereSEVO Systems Finance Manager
SEVOrsquos Force 500 Fire Supression Unit
Recipient of Presidentrsquos E Awardfor Export Service
We can handle your Air Export FreightHeld amp Associates 37 years of worry-free shipping
Check out our web site with helpful internationaltools and links wwwHeld-Assoccom Tel 816-842-6701
Held amp Associates Inc 1120 Erie Street PO Box 34470 North Kansas City Missouri 64116-0870
Vicki Watson leads Heldrsquos Air Export work Her prior experience includes DHL Global Forwarding for Spirit AeroSystems and then DHL Brokerage She began handling Customs Brokerage with Harry F Long in Kansas City Vickirsquos passion is Customer Service learning customersrsquo needs and then exceeding their air export expec-tations Call Vicki about your next air export 8168426701 or email her at VICKIheld-assoccom
Vicki Watson
2 Held amp Associates
3 Publisherrsquos Letter
4-5 Feature SEVO Systems
6 SEVO continued Commerce Bank
7 Flywire
8 Computerized Auto Search
9 Options for Shipment Consolidation
10 Profile Belgium
11 Belgium continued Transimpex
12 Belgium continued
SEVO Systems uses a variety of means to get paid in a timely fashion Beginning on pg 4
IBNewsmag TM cover image
IBNewsmagTel 8166167779 Fax 8164720959fbaehnerintermark3com
6655 Troost Ave Kansas City MO 64131 USA
In God we trustPUBLISHEREDITORFrederick Baehner
DESIGN amp PRODUCTIONTom Gilland wwwGillandGraphxcom
ADVISORY BOARDJames Malouff Doris Ganser Paul Mastilak
Publisherrsquos letter
One of the biggest concerns for small to medium-sized enterprises (SMEs) ndash exporters ndash or are planning to export is an assurance they will get paid when selling abroad
There are many ways to mitigate this risk and in this edition of IBNewsmag we explore ways SMEs use along with practical tips about getting paid
Another pressing issue for SME manufacturers is the uncertainty about continued tariffs imposed by our government on imports from China and other countries their retaliatory measures and the widening array of products being tagged
The US Trade Representative (USTR) has extended its period for public comment until September 6th as we reported in our International Breaking News report of August 7th To repeat here is what you can do
To submit written requests USTR asks companies to make email submissions through the Federal eRulemaking portal httpswwwregulationsgov In the search box enter USTR-2018-0026 ndash the docket number for comment submissions and follow instructions
And in addition in this edition of IBNewsmag you will find some useful tips for doing business in Belgium the seat of the European Commission and a gateway to Europe in many respects
page 3July-August 2018
Your business may be receiving payments via credit card wire transfer letter of credit or other vehicles What truly matters most is that you get paid in a timely fashion
SEVO Systems of Lenexa Kansas relies on all of these to get paid for its export sales and itrsquos not always easy
SEVO Finance Manager Meghan Lovetere reports that ldquoSome of our challenges have stemmed from unavailable funds which creates delays in shipping product and most importantly writing off costly wire and bank fees that come with receiving credit card wire transfers and letters of creditrdquo
The company is a successful exporter selling waterless clean agent fire suppression systems to over 60 countries
SEVO Systems Inc partnered with 3M to develop a new technology ndash the Novec 1230 Fire Protection
Fluid ndash to replace the old environmentally unsafe halon technology The result is the combination of a high extinguishing efficiency and vastly improved environmental health and safety properties
Its products include a wide range of fire suppression units that includes its FORCE500trade Clean Agent Fire Suppression System that utilizes 3Mtrade Novectrade 1230 Fire Protection Fluid with an ability to be pressurized to 500 psi (345 bar)
It allows for longer pipe runs and smaller pipe diameters in addition to its cost saving benefits of using less clean agent in smaller andor fewer cylinders per project
SEVOrsquos stand-alone ldquoplug and playrdquo Modular units arrive pre-piped and ready to install These cost-effective modulars have become the industry standard to telecom power generation and data centers according to the companyrsquos website
Getting paid for exports successfully involves many moving parts
IBNewsmagTM
July-August 2018page 4
The companyrsquos export business model utilizes regional sales managers who work directly with its distributors to provide product training on its certified fire systems along with certification of proprietary flow calculation software
When asked how SEVO overcomes some of its payment challenges it referred to two particular resources ldquoCommerce Bank has been more than just a bank for usrdquo Ms Lovetere said They have been a partner in helping us find ways to provide more payment options to and from our customers along with amazing support on our international letters of credit This gives us confidence when working with those to receive payments for goodsrdquo
Brian Gordon Commerce Bank Senior Vice president of its International Group said rdquoOur goal is to help customers get stuff done overseas Our marketing mantra is in fact - lsquochallenge acceptedrsquo Tell us the challenges you are having in doing more business internationally and wersquoll work to come up with ideas and solutions to helprdquo
Another major component to getting paid was partnering with Flywire which processes payments on behalf of consumers and corporate customers from more than 200 countries and territories in more than 100 currencies to organizations worldwide
ldquoFlywire has been integral in allowing some of our international customers to pay in their local currencyrdquo said Ms Lovetere ldquoas well as allowing faster visibility and alleviating wire fees altogether so that we receive the full amount of the invoice and can ship more timelyrdquo
While Flywire does not come into play with traditional letters of credit it does excel at tracking accounts receivable and other forms of payment through its 247 customer service and accounting systems which can be integrated with Sales Force and other accounting systems
Nick Rocco Flywire Account Executive said ldquoFlywire gives SMEs a streamlined process for international payments by providing numerous benefits for a business as well as providing value to that businessrsquo customersrdquo
Complicating the SEVO process of payments is the prevailing burden of US tariffs on imported steel and aluminum ldquoSome of our cylinders come from China and a few of the components that make our Cube systems come from Europerdquo noted Ms Lovetere
This results in price increases for some of its products along with shipping delays and vendors requiring more prepayments According to Ms Lovetere ldquoThis has caused changes in our day-to-day business by having to re-evaluate lead times due to shipping delays as well as changing our cash flow resulting in a trickle effect with our distributors affecting lead times and accounts receivablerdquo
As a result SEVO pulls out all the stops in assuring payments including the use of credit insurance through Euler Hermes
Credit insurance and working capital loans from the Export-Import Bank are another resource
FireFlexreg Dual integrated system
International Business News
page 5July-August 2018
Project Manager Meghan McCarthy Studio Artist Thompson Troy Account Manager Rebekah Gustin Art Director Stephanie Larson Copy Writer Previous User Epple Jane Print Producer Kirsten OrsquoCallaghan
Client Commerce Bank Ad Number 22272 InDesign CC 2017 120 Date 6-28-2018 200 PM Page 1 of 1
22272_CB_MoreBusiness_8_75x5_215_IBNMindd
Document Path ommerce BankCB AdsCB Ads_2018Commercial_201807_July07301822272_CB_MoreBusiness_8_75x5_215_IBNMinddFonts Minion Pro (Regular) Cera PRO (Bold Thin Regular)Images 2017 CB + CA Green CMYK_stackedeps (292)
Publication(s) IBnewsmag Material Close Date 07302018 Insertion Date 08252018 Notes None
Live 875rdquo x 5215rdquo Trim 875rdquo x 5215rdquo Bleed 875rdquo x 5215rdquo Printed At None
Cyan Magenta Yellow Black
816-234-2608commercebankcom
copy 2018 Commerce Bancshares Inc
More business means more challenges And more ways we can helpAt Commerce Bank we know that as your company expands new fi nancial challenges arise Thatrsquos why we work with you to secure new equipment streamline cash fl ow and fi nance real estate That means you can get back to focusing on running a successful business
T875rdquo
T5215rdquo
Making payments for its imported items SEVO pays using wire transfers with an eye on its cash flow situation ldquoTo insure the streaming and security of these wires Commerce Bank filters them through the processes they have in placerdquo noted Ms Lovetere
ldquoHaving more payment options available to our customers not only makes us more competitive in the market but helps us receive payments fasterrdquo she concluded ldquoWhen using the additional payment methods along with our CRM we are able to have more visibility of when receivables are duerdquo
See more about SEVO and its products at wwwsevosytemscom
IBN
The MCV (Modular Cylinder Valve Assembly) Series - Clean Agent Fire
Suppression System
July 2017page 6 July-August 2018page 6
Six Issues Trading Companies Face with International Payments by RYAN FRERE
With the increase in globalization international
trade companies have found it easier to expand into
new markets Innovations in communication and
transportation have paved the way for globalisation yet
many companies struggle with a fundamental aspect of
business the exchange of money for goods and services
International payment processors provide solutions
to these issues by streamlining the process They
bring transparency and speed to transactions between
importers and exporters thus solving important cash
flow issues Payment processors also take away all the
headaches that come with region-specific challenges
in markets where businesses donrsquot have banking
relationships or infrastructure
Hidden Fees Trade companies are paying far more than they
should to receive their own payments Businesses can incur flat fees
on incoming wire transfers which can be a $20ndash50 fee assessed on
receiving the wire Moreover intermediary banks are sometimes in the
middle of a transaction and charge their own additional wiring fee
Exchange Rates Exchange rates affect both the importer
trying to pay for goods and the exporter trying to collect on the goods
Banks charge a premium on foreign exchange which is often a large
margin above the mid-market exchange rate
Payment Tracking International payments unfortunately
donrsquot have the tracking abilities of carrier services Importers have no
insight into if or when their payments have been delivered into the
exporterrsquos bank account and the exporter has no view into the status of
the payments
Payment Identification Exportersrsquo Accounts
Receivable departments spend time and resources identifying and
reconciling wire transfers as it is often difficult to identify any payer
information on a deposit
Importers Canrsquot Easily Pay Importers are often
constrained to making payments via wire transfer and are unable to
utilize more modern payment methods such as creditdebit card or
e-wallet methods
Fraud The more a business expands internationally the more
compliance and anti-money-laundering considerations there are that
need to be addressed
RYAN FRERE Vice President Global Payments
Here wersquove outlined six issues we commonly
see importers and exporters face when
dealing with international payments
To learn how Flywire can streamline your businessrsquos international payments visit flywirecombusiness
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
Recipient of Presidentrsquos E Awardfor Export Service
We can handle your Air Export FreightHeld amp Associates 37 years of worry-free shipping
Check out our web site with helpful internationaltools and links wwwHeld-Assoccom Tel 816-842-6701
Held amp Associates Inc 1120 Erie Street PO Box 34470 North Kansas City Missouri 64116-0870
Vicki Watson leads Heldrsquos Air Export work Her prior experience includes DHL Global Forwarding for Spirit AeroSystems and then DHL Brokerage She began handling Customs Brokerage with Harry F Long in Kansas City Vickirsquos passion is Customer Service learning customersrsquo needs and then exceeding their air export expec-tations Call Vicki about your next air export 8168426701 or email her at VICKIheld-assoccom
Vicki Watson
2 Held amp Associates
3 Publisherrsquos Letter
4-5 Feature SEVO Systems
6 SEVO continued Commerce Bank
7 Flywire
8 Computerized Auto Search
9 Options for Shipment Consolidation
10 Profile Belgium
11 Belgium continued Transimpex
12 Belgium continued
SEVO Systems uses a variety of means to get paid in a timely fashion Beginning on pg 4
IBNewsmag TM cover image
IBNewsmagTel 8166167779 Fax 8164720959fbaehnerintermark3com
6655 Troost Ave Kansas City MO 64131 USA
In God we trustPUBLISHEREDITORFrederick Baehner
DESIGN amp PRODUCTIONTom Gilland wwwGillandGraphxcom
ADVISORY BOARDJames Malouff Doris Ganser Paul Mastilak
Publisherrsquos letter
One of the biggest concerns for small to medium-sized enterprises (SMEs) ndash exporters ndash or are planning to export is an assurance they will get paid when selling abroad
There are many ways to mitigate this risk and in this edition of IBNewsmag we explore ways SMEs use along with practical tips about getting paid
Another pressing issue for SME manufacturers is the uncertainty about continued tariffs imposed by our government on imports from China and other countries their retaliatory measures and the widening array of products being tagged
The US Trade Representative (USTR) has extended its period for public comment until September 6th as we reported in our International Breaking News report of August 7th To repeat here is what you can do
To submit written requests USTR asks companies to make email submissions through the Federal eRulemaking portal httpswwwregulationsgov In the search box enter USTR-2018-0026 ndash the docket number for comment submissions and follow instructions
And in addition in this edition of IBNewsmag you will find some useful tips for doing business in Belgium the seat of the European Commission and a gateway to Europe in many respects
page 3July-August 2018
Your business may be receiving payments via credit card wire transfer letter of credit or other vehicles What truly matters most is that you get paid in a timely fashion
SEVO Systems of Lenexa Kansas relies on all of these to get paid for its export sales and itrsquos not always easy
SEVO Finance Manager Meghan Lovetere reports that ldquoSome of our challenges have stemmed from unavailable funds which creates delays in shipping product and most importantly writing off costly wire and bank fees that come with receiving credit card wire transfers and letters of creditrdquo
The company is a successful exporter selling waterless clean agent fire suppression systems to over 60 countries
SEVO Systems Inc partnered with 3M to develop a new technology ndash the Novec 1230 Fire Protection
Fluid ndash to replace the old environmentally unsafe halon technology The result is the combination of a high extinguishing efficiency and vastly improved environmental health and safety properties
Its products include a wide range of fire suppression units that includes its FORCE500trade Clean Agent Fire Suppression System that utilizes 3Mtrade Novectrade 1230 Fire Protection Fluid with an ability to be pressurized to 500 psi (345 bar)
It allows for longer pipe runs and smaller pipe diameters in addition to its cost saving benefits of using less clean agent in smaller andor fewer cylinders per project
SEVOrsquos stand-alone ldquoplug and playrdquo Modular units arrive pre-piped and ready to install These cost-effective modulars have become the industry standard to telecom power generation and data centers according to the companyrsquos website
Getting paid for exports successfully involves many moving parts
IBNewsmagTM
July-August 2018page 4
The companyrsquos export business model utilizes regional sales managers who work directly with its distributors to provide product training on its certified fire systems along with certification of proprietary flow calculation software
When asked how SEVO overcomes some of its payment challenges it referred to two particular resources ldquoCommerce Bank has been more than just a bank for usrdquo Ms Lovetere said They have been a partner in helping us find ways to provide more payment options to and from our customers along with amazing support on our international letters of credit This gives us confidence when working with those to receive payments for goodsrdquo
Brian Gordon Commerce Bank Senior Vice president of its International Group said rdquoOur goal is to help customers get stuff done overseas Our marketing mantra is in fact - lsquochallenge acceptedrsquo Tell us the challenges you are having in doing more business internationally and wersquoll work to come up with ideas and solutions to helprdquo
Another major component to getting paid was partnering with Flywire which processes payments on behalf of consumers and corporate customers from more than 200 countries and territories in more than 100 currencies to organizations worldwide
ldquoFlywire has been integral in allowing some of our international customers to pay in their local currencyrdquo said Ms Lovetere ldquoas well as allowing faster visibility and alleviating wire fees altogether so that we receive the full amount of the invoice and can ship more timelyrdquo
While Flywire does not come into play with traditional letters of credit it does excel at tracking accounts receivable and other forms of payment through its 247 customer service and accounting systems which can be integrated with Sales Force and other accounting systems
Nick Rocco Flywire Account Executive said ldquoFlywire gives SMEs a streamlined process for international payments by providing numerous benefits for a business as well as providing value to that businessrsquo customersrdquo
Complicating the SEVO process of payments is the prevailing burden of US tariffs on imported steel and aluminum ldquoSome of our cylinders come from China and a few of the components that make our Cube systems come from Europerdquo noted Ms Lovetere
This results in price increases for some of its products along with shipping delays and vendors requiring more prepayments According to Ms Lovetere ldquoThis has caused changes in our day-to-day business by having to re-evaluate lead times due to shipping delays as well as changing our cash flow resulting in a trickle effect with our distributors affecting lead times and accounts receivablerdquo
As a result SEVO pulls out all the stops in assuring payments including the use of credit insurance through Euler Hermes
Credit insurance and working capital loans from the Export-Import Bank are another resource
FireFlexreg Dual integrated system
International Business News
page 5July-August 2018
Project Manager Meghan McCarthy Studio Artist Thompson Troy Account Manager Rebekah Gustin Art Director Stephanie Larson Copy Writer Previous User Epple Jane Print Producer Kirsten OrsquoCallaghan
Client Commerce Bank Ad Number 22272 InDesign CC 2017 120 Date 6-28-2018 200 PM Page 1 of 1
22272_CB_MoreBusiness_8_75x5_215_IBNMindd
Document Path ommerce BankCB AdsCB Ads_2018Commercial_201807_July07301822272_CB_MoreBusiness_8_75x5_215_IBNMinddFonts Minion Pro (Regular) Cera PRO (Bold Thin Regular)Images 2017 CB + CA Green CMYK_stackedeps (292)
Publication(s) IBnewsmag Material Close Date 07302018 Insertion Date 08252018 Notes None
Live 875rdquo x 5215rdquo Trim 875rdquo x 5215rdquo Bleed 875rdquo x 5215rdquo Printed At None
Cyan Magenta Yellow Black
816-234-2608commercebankcom
copy 2018 Commerce Bancshares Inc
More business means more challenges And more ways we can helpAt Commerce Bank we know that as your company expands new fi nancial challenges arise Thatrsquos why we work with you to secure new equipment streamline cash fl ow and fi nance real estate That means you can get back to focusing on running a successful business
T875rdquo
T5215rdquo
Making payments for its imported items SEVO pays using wire transfers with an eye on its cash flow situation ldquoTo insure the streaming and security of these wires Commerce Bank filters them through the processes they have in placerdquo noted Ms Lovetere
ldquoHaving more payment options available to our customers not only makes us more competitive in the market but helps us receive payments fasterrdquo she concluded ldquoWhen using the additional payment methods along with our CRM we are able to have more visibility of when receivables are duerdquo
See more about SEVO and its products at wwwsevosytemscom
IBN
The MCV (Modular Cylinder Valve Assembly) Series - Clean Agent Fire
Suppression System
July 2017page 6 July-August 2018page 6
Six Issues Trading Companies Face with International Payments by RYAN FRERE
With the increase in globalization international
trade companies have found it easier to expand into
new markets Innovations in communication and
transportation have paved the way for globalisation yet
many companies struggle with a fundamental aspect of
business the exchange of money for goods and services
International payment processors provide solutions
to these issues by streamlining the process They
bring transparency and speed to transactions between
importers and exporters thus solving important cash
flow issues Payment processors also take away all the
headaches that come with region-specific challenges
in markets where businesses donrsquot have banking
relationships or infrastructure
Hidden Fees Trade companies are paying far more than they
should to receive their own payments Businesses can incur flat fees
on incoming wire transfers which can be a $20ndash50 fee assessed on
receiving the wire Moreover intermediary banks are sometimes in the
middle of a transaction and charge their own additional wiring fee
Exchange Rates Exchange rates affect both the importer
trying to pay for goods and the exporter trying to collect on the goods
Banks charge a premium on foreign exchange which is often a large
margin above the mid-market exchange rate
Payment Tracking International payments unfortunately
donrsquot have the tracking abilities of carrier services Importers have no
insight into if or when their payments have been delivered into the
exporterrsquos bank account and the exporter has no view into the status of
the payments
Payment Identification Exportersrsquo Accounts
Receivable departments spend time and resources identifying and
reconciling wire transfers as it is often difficult to identify any payer
information on a deposit
Importers Canrsquot Easily Pay Importers are often
constrained to making payments via wire transfer and are unable to
utilize more modern payment methods such as creditdebit card or
e-wallet methods
Fraud The more a business expands internationally the more
compliance and anti-money-laundering considerations there are that
need to be addressed
RYAN FRERE Vice President Global Payments
Here wersquove outlined six issues we commonly
see importers and exporters face when
dealing with international payments
To learn how Flywire can streamline your businessrsquos international payments visit flywirecombusiness
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
2 Held amp Associates
3 Publisherrsquos Letter
4-5 Feature SEVO Systems
6 SEVO continued Commerce Bank
7 Flywire
8 Computerized Auto Search
9 Options for Shipment Consolidation
10 Profile Belgium
11 Belgium continued Transimpex
12 Belgium continued
SEVO Systems uses a variety of means to get paid in a timely fashion Beginning on pg 4
IBNewsmag TM cover image
IBNewsmagTel 8166167779 Fax 8164720959fbaehnerintermark3com
6655 Troost Ave Kansas City MO 64131 USA
In God we trustPUBLISHEREDITORFrederick Baehner
DESIGN amp PRODUCTIONTom Gilland wwwGillandGraphxcom
ADVISORY BOARDJames Malouff Doris Ganser Paul Mastilak
Publisherrsquos letter
One of the biggest concerns for small to medium-sized enterprises (SMEs) ndash exporters ndash or are planning to export is an assurance they will get paid when selling abroad
There are many ways to mitigate this risk and in this edition of IBNewsmag we explore ways SMEs use along with practical tips about getting paid
Another pressing issue for SME manufacturers is the uncertainty about continued tariffs imposed by our government on imports from China and other countries their retaliatory measures and the widening array of products being tagged
The US Trade Representative (USTR) has extended its period for public comment until September 6th as we reported in our International Breaking News report of August 7th To repeat here is what you can do
To submit written requests USTR asks companies to make email submissions through the Federal eRulemaking portal httpswwwregulationsgov In the search box enter USTR-2018-0026 ndash the docket number for comment submissions and follow instructions
And in addition in this edition of IBNewsmag you will find some useful tips for doing business in Belgium the seat of the European Commission and a gateway to Europe in many respects
page 3July-August 2018
Your business may be receiving payments via credit card wire transfer letter of credit or other vehicles What truly matters most is that you get paid in a timely fashion
SEVO Systems of Lenexa Kansas relies on all of these to get paid for its export sales and itrsquos not always easy
SEVO Finance Manager Meghan Lovetere reports that ldquoSome of our challenges have stemmed from unavailable funds which creates delays in shipping product and most importantly writing off costly wire and bank fees that come with receiving credit card wire transfers and letters of creditrdquo
The company is a successful exporter selling waterless clean agent fire suppression systems to over 60 countries
SEVO Systems Inc partnered with 3M to develop a new technology ndash the Novec 1230 Fire Protection
Fluid ndash to replace the old environmentally unsafe halon technology The result is the combination of a high extinguishing efficiency and vastly improved environmental health and safety properties
Its products include a wide range of fire suppression units that includes its FORCE500trade Clean Agent Fire Suppression System that utilizes 3Mtrade Novectrade 1230 Fire Protection Fluid with an ability to be pressurized to 500 psi (345 bar)
It allows for longer pipe runs and smaller pipe diameters in addition to its cost saving benefits of using less clean agent in smaller andor fewer cylinders per project
SEVOrsquos stand-alone ldquoplug and playrdquo Modular units arrive pre-piped and ready to install These cost-effective modulars have become the industry standard to telecom power generation and data centers according to the companyrsquos website
Getting paid for exports successfully involves many moving parts
IBNewsmagTM
July-August 2018page 4
The companyrsquos export business model utilizes regional sales managers who work directly with its distributors to provide product training on its certified fire systems along with certification of proprietary flow calculation software
When asked how SEVO overcomes some of its payment challenges it referred to two particular resources ldquoCommerce Bank has been more than just a bank for usrdquo Ms Lovetere said They have been a partner in helping us find ways to provide more payment options to and from our customers along with amazing support on our international letters of credit This gives us confidence when working with those to receive payments for goodsrdquo
Brian Gordon Commerce Bank Senior Vice president of its International Group said rdquoOur goal is to help customers get stuff done overseas Our marketing mantra is in fact - lsquochallenge acceptedrsquo Tell us the challenges you are having in doing more business internationally and wersquoll work to come up with ideas and solutions to helprdquo
Another major component to getting paid was partnering with Flywire which processes payments on behalf of consumers and corporate customers from more than 200 countries and territories in more than 100 currencies to organizations worldwide
ldquoFlywire has been integral in allowing some of our international customers to pay in their local currencyrdquo said Ms Lovetere ldquoas well as allowing faster visibility and alleviating wire fees altogether so that we receive the full amount of the invoice and can ship more timelyrdquo
While Flywire does not come into play with traditional letters of credit it does excel at tracking accounts receivable and other forms of payment through its 247 customer service and accounting systems which can be integrated with Sales Force and other accounting systems
Nick Rocco Flywire Account Executive said ldquoFlywire gives SMEs a streamlined process for international payments by providing numerous benefits for a business as well as providing value to that businessrsquo customersrdquo
Complicating the SEVO process of payments is the prevailing burden of US tariffs on imported steel and aluminum ldquoSome of our cylinders come from China and a few of the components that make our Cube systems come from Europerdquo noted Ms Lovetere
This results in price increases for some of its products along with shipping delays and vendors requiring more prepayments According to Ms Lovetere ldquoThis has caused changes in our day-to-day business by having to re-evaluate lead times due to shipping delays as well as changing our cash flow resulting in a trickle effect with our distributors affecting lead times and accounts receivablerdquo
As a result SEVO pulls out all the stops in assuring payments including the use of credit insurance through Euler Hermes
Credit insurance and working capital loans from the Export-Import Bank are another resource
FireFlexreg Dual integrated system
International Business News
page 5July-August 2018
Project Manager Meghan McCarthy Studio Artist Thompson Troy Account Manager Rebekah Gustin Art Director Stephanie Larson Copy Writer Previous User Epple Jane Print Producer Kirsten OrsquoCallaghan
Client Commerce Bank Ad Number 22272 InDesign CC 2017 120 Date 6-28-2018 200 PM Page 1 of 1
22272_CB_MoreBusiness_8_75x5_215_IBNMindd
Document Path ommerce BankCB AdsCB Ads_2018Commercial_201807_July07301822272_CB_MoreBusiness_8_75x5_215_IBNMinddFonts Minion Pro (Regular) Cera PRO (Bold Thin Regular)Images 2017 CB + CA Green CMYK_stackedeps (292)
Publication(s) IBnewsmag Material Close Date 07302018 Insertion Date 08252018 Notes None
Live 875rdquo x 5215rdquo Trim 875rdquo x 5215rdquo Bleed 875rdquo x 5215rdquo Printed At None
Cyan Magenta Yellow Black
816-234-2608commercebankcom
copy 2018 Commerce Bancshares Inc
More business means more challenges And more ways we can helpAt Commerce Bank we know that as your company expands new fi nancial challenges arise Thatrsquos why we work with you to secure new equipment streamline cash fl ow and fi nance real estate That means you can get back to focusing on running a successful business
T875rdquo
T5215rdquo
Making payments for its imported items SEVO pays using wire transfers with an eye on its cash flow situation ldquoTo insure the streaming and security of these wires Commerce Bank filters them through the processes they have in placerdquo noted Ms Lovetere
ldquoHaving more payment options available to our customers not only makes us more competitive in the market but helps us receive payments fasterrdquo she concluded ldquoWhen using the additional payment methods along with our CRM we are able to have more visibility of when receivables are duerdquo
See more about SEVO and its products at wwwsevosytemscom
IBN
The MCV (Modular Cylinder Valve Assembly) Series - Clean Agent Fire
Suppression System
July 2017page 6 July-August 2018page 6
Six Issues Trading Companies Face with International Payments by RYAN FRERE
With the increase in globalization international
trade companies have found it easier to expand into
new markets Innovations in communication and
transportation have paved the way for globalisation yet
many companies struggle with a fundamental aspect of
business the exchange of money for goods and services
International payment processors provide solutions
to these issues by streamlining the process They
bring transparency and speed to transactions between
importers and exporters thus solving important cash
flow issues Payment processors also take away all the
headaches that come with region-specific challenges
in markets where businesses donrsquot have banking
relationships or infrastructure
Hidden Fees Trade companies are paying far more than they
should to receive their own payments Businesses can incur flat fees
on incoming wire transfers which can be a $20ndash50 fee assessed on
receiving the wire Moreover intermediary banks are sometimes in the
middle of a transaction and charge their own additional wiring fee
Exchange Rates Exchange rates affect both the importer
trying to pay for goods and the exporter trying to collect on the goods
Banks charge a premium on foreign exchange which is often a large
margin above the mid-market exchange rate
Payment Tracking International payments unfortunately
donrsquot have the tracking abilities of carrier services Importers have no
insight into if or when their payments have been delivered into the
exporterrsquos bank account and the exporter has no view into the status of
the payments
Payment Identification Exportersrsquo Accounts
Receivable departments spend time and resources identifying and
reconciling wire transfers as it is often difficult to identify any payer
information on a deposit
Importers Canrsquot Easily Pay Importers are often
constrained to making payments via wire transfer and are unable to
utilize more modern payment methods such as creditdebit card or
e-wallet methods
Fraud The more a business expands internationally the more
compliance and anti-money-laundering considerations there are that
need to be addressed
RYAN FRERE Vice President Global Payments
Here wersquove outlined six issues we commonly
see importers and exporters face when
dealing with international payments
To learn how Flywire can streamline your businessrsquos international payments visit flywirecombusiness
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
Your business may be receiving payments via credit card wire transfer letter of credit or other vehicles What truly matters most is that you get paid in a timely fashion
SEVO Systems of Lenexa Kansas relies on all of these to get paid for its export sales and itrsquos not always easy
SEVO Finance Manager Meghan Lovetere reports that ldquoSome of our challenges have stemmed from unavailable funds which creates delays in shipping product and most importantly writing off costly wire and bank fees that come with receiving credit card wire transfers and letters of creditrdquo
The company is a successful exporter selling waterless clean agent fire suppression systems to over 60 countries
SEVO Systems Inc partnered with 3M to develop a new technology ndash the Novec 1230 Fire Protection
Fluid ndash to replace the old environmentally unsafe halon technology The result is the combination of a high extinguishing efficiency and vastly improved environmental health and safety properties
Its products include a wide range of fire suppression units that includes its FORCE500trade Clean Agent Fire Suppression System that utilizes 3Mtrade Novectrade 1230 Fire Protection Fluid with an ability to be pressurized to 500 psi (345 bar)
It allows for longer pipe runs and smaller pipe diameters in addition to its cost saving benefits of using less clean agent in smaller andor fewer cylinders per project
SEVOrsquos stand-alone ldquoplug and playrdquo Modular units arrive pre-piped and ready to install These cost-effective modulars have become the industry standard to telecom power generation and data centers according to the companyrsquos website
Getting paid for exports successfully involves many moving parts
IBNewsmagTM
July-August 2018page 4
The companyrsquos export business model utilizes regional sales managers who work directly with its distributors to provide product training on its certified fire systems along with certification of proprietary flow calculation software
When asked how SEVO overcomes some of its payment challenges it referred to two particular resources ldquoCommerce Bank has been more than just a bank for usrdquo Ms Lovetere said They have been a partner in helping us find ways to provide more payment options to and from our customers along with amazing support on our international letters of credit This gives us confidence when working with those to receive payments for goodsrdquo
Brian Gordon Commerce Bank Senior Vice president of its International Group said rdquoOur goal is to help customers get stuff done overseas Our marketing mantra is in fact - lsquochallenge acceptedrsquo Tell us the challenges you are having in doing more business internationally and wersquoll work to come up with ideas and solutions to helprdquo
Another major component to getting paid was partnering with Flywire which processes payments on behalf of consumers and corporate customers from more than 200 countries and territories in more than 100 currencies to organizations worldwide
ldquoFlywire has been integral in allowing some of our international customers to pay in their local currencyrdquo said Ms Lovetere ldquoas well as allowing faster visibility and alleviating wire fees altogether so that we receive the full amount of the invoice and can ship more timelyrdquo
While Flywire does not come into play with traditional letters of credit it does excel at tracking accounts receivable and other forms of payment through its 247 customer service and accounting systems which can be integrated with Sales Force and other accounting systems
Nick Rocco Flywire Account Executive said ldquoFlywire gives SMEs a streamlined process for international payments by providing numerous benefits for a business as well as providing value to that businessrsquo customersrdquo
Complicating the SEVO process of payments is the prevailing burden of US tariffs on imported steel and aluminum ldquoSome of our cylinders come from China and a few of the components that make our Cube systems come from Europerdquo noted Ms Lovetere
This results in price increases for some of its products along with shipping delays and vendors requiring more prepayments According to Ms Lovetere ldquoThis has caused changes in our day-to-day business by having to re-evaluate lead times due to shipping delays as well as changing our cash flow resulting in a trickle effect with our distributors affecting lead times and accounts receivablerdquo
As a result SEVO pulls out all the stops in assuring payments including the use of credit insurance through Euler Hermes
Credit insurance and working capital loans from the Export-Import Bank are another resource
FireFlexreg Dual integrated system
International Business News
page 5July-August 2018
Project Manager Meghan McCarthy Studio Artist Thompson Troy Account Manager Rebekah Gustin Art Director Stephanie Larson Copy Writer Previous User Epple Jane Print Producer Kirsten OrsquoCallaghan
Client Commerce Bank Ad Number 22272 InDesign CC 2017 120 Date 6-28-2018 200 PM Page 1 of 1
22272_CB_MoreBusiness_8_75x5_215_IBNMindd
Document Path ommerce BankCB AdsCB Ads_2018Commercial_201807_July07301822272_CB_MoreBusiness_8_75x5_215_IBNMinddFonts Minion Pro (Regular) Cera PRO (Bold Thin Regular)Images 2017 CB + CA Green CMYK_stackedeps (292)
Publication(s) IBnewsmag Material Close Date 07302018 Insertion Date 08252018 Notes None
Live 875rdquo x 5215rdquo Trim 875rdquo x 5215rdquo Bleed 875rdquo x 5215rdquo Printed At None
Cyan Magenta Yellow Black
816-234-2608commercebankcom
copy 2018 Commerce Bancshares Inc
More business means more challenges And more ways we can helpAt Commerce Bank we know that as your company expands new fi nancial challenges arise Thatrsquos why we work with you to secure new equipment streamline cash fl ow and fi nance real estate That means you can get back to focusing on running a successful business
T875rdquo
T5215rdquo
Making payments for its imported items SEVO pays using wire transfers with an eye on its cash flow situation ldquoTo insure the streaming and security of these wires Commerce Bank filters them through the processes they have in placerdquo noted Ms Lovetere
ldquoHaving more payment options available to our customers not only makes us more competitive in the market but helps us receive payments fasterrdquo she concluded ldquoWhen using the additional payment methods along with our CRM we are able to have more visibility of when receivables are duerdquo
See more about SEVO and its products at wwwsevosytemscom
IBN
The MCV (Modular Cylinder Valve Assembly) Series - Clean Agent Fire
Suppression System
July 2017page 6 July-August 2018page 6
Six Issues Trading Companies Face with International Payments by RYAN FRERE
With the increase in globalization international
trade companies have found it easier to expand into
new markets Innovations in communication and
transportation have paved the way for globalisation yet
many companies struggle with a fundamental aspect of
business the exchange of money for goods and services
International payment processors provide solutions
to these issues by streamlining the process They
bring transparency and speed to transactions between
importers and exporters thus solving important cash
flow issues Payment processors also take away all the
headaches that come with region-specific challenges
in markets where businesses donrsquot have banking
relationships or infrastructure
Hidden Fees Trade companies are paying far more than they
should to receive their own payments Businesses can incur flat fees
on incoming wire transfers which can be a $20ndash50 fee assessed on
receiving the wire Moreover intermediary banks are sometimes in the
middle of a transaction and charge their own additional wiring fee
Exchange Rates Exchange rates affect both the importer
trying to pay for goods and the exporter trying to collect on the goods
Banks charge a premium on foreign exchange which is often a large
margin above the mid-market exchange rate
Payment Tracking International payments unfortunately
donrsquot have the tracking abilities of carrier services Importers have no
insight into if or when their payments have been delivered into the
exporterrsquos bank account and the exporter has no view into the status of
the payments
Payment Identification Exportersrsquo Accounts
Receivable departments spend time and resources identifying and
reconciling wire transfers as it is often difficult to identify any payer
information on a deposit
Importers Canrsquot Easily Pay Importers are often
constrained to making payments via wire transfer and are unable to
utilize more modern payment methods such as creditdebit card or
e-wallet methods
Fraud The more a business expands internationally the more
compliance and anti-money-laundering considerations there are that
need to be addressed
RYAN FRERE Vice President Global Payments
Here wersquove outlined six issues we commonly
see importers and exporters face when
dealing with international payments
To learn how Flywire can streamline your businessrsquos international payments visit flywirecombusiness
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
The companyrsquos export business model utilizes regional sales managers who work directly with its distributors to provide product training on its certified fire systems along with certification of proprietary flow calculation software
When asked how SEVO overcomes some of its payment challenges it referred to two particular resources ldquoCommerce Bank has been more than just a bank for usrdquo Ms Lovetere said They have been a partner in helping us find ways to provide more payment options to and from our customers along with amazing support on our international letters of credit This gives us confidence when working with those to receive payments for goodsrdquo
Brian Gordon Commerce Bank Senior Vice president of its International Group said rdquoOur goal is to help customers get stuff done overseas Our marketing mantra is in fact - lsquochallenge acceptedrsquo Tell us the challenges you are having in doing more business internationally and wersquoll work to come up with ideas and solutions to helprdquo
Another major component to getting paid was partnering with Flywire which processes payments on behalf of consumers and corporate customers from more than 200 countries and territories in more than 100 currencies to organizations worldwide
ldquoFlywire has been integral in allowing some of our international customers to pay in their local currencyrdquo said Ms Lovetere ldquoas well as allowing faster visibility and alleviating wire fees altogether so that we receive the full amount of the invoice and can ship more timelyrdquo
While Flywire does not come into play with traditional letters of credit it does excel at tracking accounts receivable and other forms of payment through its 247 customer service and accounting systems which can be integrated with Sales Force and other accounting systems
Nick Rocco Flywire Account Executive said ldquoFlywire gives SMEs a streamlined process for international payments by providing numerous benefits for a business as well as providing value to that businessrsquo customersrdquo
Complicating the SEVO process of payments is the prevailing burden of US tariffs on imported steel and aluminum ldquoSome of our cylinders come from China and a few of the components that make our Cube systems come from Europerdquo noted Ms Lovetere
This results in price increases for some of its products along with shipping delays and vendors requiring more prepayments According to Ms Lovetere ldquoThis has caused changes in our day-to-day business by having to re-evaluate lead times due to shipping delays as well as changing our cash flow resulting in a trickle effect with our distributors affecting lead times and accounts receivablerdquo
As a result SEVO pulls out all the stops in assuring payments including the use of credit insurance through Euler Hermes
Credit insurance and working capital loans from the Export-Import Bank are another resource
FireFlexreg Dual integrated system
International Business News
page 5July-August 2018
Project Manager Meghan McCarthy Studio Artist Thompson Troy Account Manager Rebekah Gustin Art Director Stephanie Larson Copy Writer Previous User Epple Jane Print Producer Kirsten OrsquoCallaghan
Client Commerce Bank Ad Number 22272 InDesign CC 2017 120 Date 6-28-2018 200 PM Page 1 of 1
22272_CB_MoreBusiness_8_75x5_215_IBNMindd
Document Path ommerce BankCB AdsCB Ads_2018Commercial_201807_July07301822272_CB_MoreBusiness_8_75x5_215_IBNMinddFonts Minion Pro (Regular) Cera PRO (Bold Thin Regular)Images 2017 CB + CA Green CMYK_stackedeps (292)
Publication(s) IBnewsmag Material Close Date 07302018 Insertion Date 08252018 Notes None
Live 875rdquo x 5215rdquo Trim 875rdquo x 5215rdquo Bleed 875rdquo x 5215rdquo Printed At None
Cyan Magenta Yellow Black
816-234-2608commercebankcom
copy 2018 Commerce Bancshares Inc
More business means more challenges And more ways we can helpAt Commerce Bank we know that as your company expands new fi nancial challenges arise Thatrsquos why we work with you to secure new equipment streamline cash fl ow and fi nance real estate That means you can get back to focusing on running a successful business
T875rdquo
T5215rdquo
Making payments for its imported items SEVO pays using wire transfers with an eye on its cash flow situation ldquoTo insure the streaming and security of these wires Commerce Bank filters them through the processes they have in placerdquo noted Ms Lovetere
ldquoHaving more payment options available to our customers not only makes us more competitive in the market but helps us receive payments fasterrdquo she concluded ldquoWhen using the additional payment methods along with our CRM we are able to have more visibility of when receivables are duerdquo
See more about SEVO and its products at wwwsevosytemscom
IBN
The MCV (Modular Cylinder Valve Assembly) Series - Clean Agent Fire
Suppression System
July 2017page 6 July-August 2018page 6
Six Issues Trading Companies Face with International Payments by RYAN FRERE
With the increase in globalization international
trade companies have found it easier to expand into
new markets Innovations in communication and
transportation have paved the way for globalisation yet
many companies struggle with a fundamental aspect of
business the exchange of money for goods and services
International payment processors provide solutions
to these issues by streamlining the process They
bring transparency and speed to transactions between
importers and exporters thus solving important cash
flow issues Payment processors also take away all the
headaches that come with region-specific challenges
in markets where businesses donrsquot have banking
relationships or infrastructure
Hidden Fees Trade companies are paying far more than they
should to receive their own payments Businesses can incur flat fees
on incoming wire transfers which can be a $20ndash50 fee assessed on
receiving the wire Moreover intermediary banks are sometimes in the
middle of a transaction and charge their own additional wiring fee
Exchange Rates Exchange rates affect both the importer
trying to pay for goods and the exporter trying to collect on the goods
Banks charge a premium on foreign exchange which is often a large
margin above the mid-market exchange rate
Payment Tracking International payments unfortunately
donrsquot have the tracking abilities of carrier services Importers have no
insight into if or when their payments have been delivered into the
exporterrsquos bank account and the exporter has no view into the status of
the payments
Payment Identification Exportersrsquo Accounts
Receivable departments spend time and resources identifying and
reconciling wire transfers as it is often difficult to identify any payer
information on a deposit
Importers Canrsquot Easily Pay Importers are often
constrained to making payments via wire transfer and are unable to
utilize more modern payment methods such as creditdebit card or
e-wallet methods
Fraud The more a business expands internationally the more
compliance and anti-money-laundering considerations there are that
need to be addressed
RYAN FRERE Vice President Global Payments
Here wersquove outlined six issues we commonly
see importers and exporters face when
dealing with international payments
To learn how Flywire can streamline your businessrsquos international payments visit flywirecombusiness
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
Project Manager Meghan McCarthy Studio Artist Thompson Troy Account Manager Rebekah Gustin Art Director Stephanie Larson Copy Writer Previous User Epple Jane Print Producer Kirsten OrsquoCallaghan
Client Commerce Bank Ad Number 22272 InDesign CC 2017 120 Date 6-28-2018 200 PM Page 1 of 1
22272_CB_MoreBusiness_8_75x5_215_IBNMindd
Document Path ommerce BankCB AdsCB Ads_2018Commercial_201807_July07301822272_CB_MoreBusiness_8_75x5_215_IBNMinddFonts Minion Pro (Regular) Cera PRO (Bold Thin Regular)Images 2017 CB + CA Green CMYK_stackedeps (292)
Publication(s) IBnewsmag Material Close Date 07302018 Insertion Date 08252018 Notes None
Live 875rdquo x 5215rdquo Trim 875rdquo x 5215rdquo Bleed 875rdquo x 5215rdquo Printed At None
Cyan Magenta Yellow Black
816-234-2608commercebankcom
copy 2018 Commerce Bancshares Inc
More business means more challenges And more ways we can helpAt Commerce Bank we know that as your company expands new fi nancial challenges arise Thatrsquos why we work with you to secure new equipment streamline cash fl ow and fi nance real estate That means you can get back to focusing on running a successful business
T875rdquo
T5215rdquo
Making payments for its imported items SEVO pays using wire transfers with an eye on its cash flow situation ldquoTo insure the streaming and security of these wires Commerce Bank filters them through the processes they have in placerdquo noted Ms Lovetere
ldquoHaving more payment options available to our customers not only makes us more competitive in the market but helps us receive payments fasterrdquo she concluded ldquoWhen using the additional payment methods along with our CRM we are able to have more visibility of when receivables are duerdquo
See more about SEVO and its products at wwwsevosytemscom
IBN
The MCV (Modular Cylinder Valve Assembly) Series - Clean Agent Fire
Suppression System
July 2017page 6 July-August 2018page 6
Six Issues Trading Companies Face with International Payments by RYAN FRERE
With the increase in globalization international
trade companies have found it easier to expand into
new markets Innovations in communication and
transportation have paved the way for globalisation yet
many companies struggle with a fundamental aspect of
business the exchange of money for goods and services
International payment processors provide solutions
to these issues by streamlining the process They
bring transparency and speed to transactions between
importers and exporters thus solving important cash
flow issues Payment processors also take away all the
headaches that come with region-specific challenges
in markets where businesses donrsquot have banking
relationships or infrastructure
Hidden Fees Trade companies are paying far more than they
should to receive their own payments Businesses can incur flat fees
on incoming wire transfers which can be a $20ndash50 fee assessed on
receiving the wire Moreover intermediary banks are sometimes in the
middle of a transaction and charge their own additional wiring fee
Exchange Rates Exchange rates affect both the importer
trying to pay for goods and the exporter trying to collect on the goods
Banks charge a premium on foreign exchange which is often a large
margin above the mid-market exchange rate
Payment Tracking International payments unfortunately
donrsquot have the tracking abilities of carrier services Importers have no
insight into if or when their payments have been delivered into the
exporterrsquos bank account and the exporter has no view into the status of
the payments
Payment Identification Exportersrsquo Accounts
Receivable departments spend time and resources identifying and
reconciling wire transfers as it is often difficult to identify any payer
information on a deposit
Importers Canrsquot Easily Pay Importers are often
constrained to making payments via wire transfer and are unable to
utilize more modern payment methods such as creditdebit card or
e-wallet methods
Fraud The more a business expands internationally the more
compliance and anti-money-laundering considerations there are that
need to be addressed
RYAN FRERE Vice President Global Payments
Here wersquove outlined six issues we commonly
see importers and exporters face when
dealing with international payments
To learn how Flywire can streamline your businessrsquos international payments visit flywirecombusiness
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
Six Issues Trading Companies Face with International Payments by RYAN FRERE
With the increase in globalization international
trade companies have found it easier to expand into
new markets Innovations in communication and
transportation have paved the way for globalisation yet
many companies struggle with a fundamental aspect of
business the exchange of money for goods and services
International payment processors provide solutions
to these issues by streamlining the process They
bring transparency and speed to transactions between
importers and exporters thus solving important cash
flow issues Payment processors also take away all the
headaches that come with region-specific challenges
in markets where businesses donrsquot have banking
relationships or infrastructure
Hidden Fees Trade companies are paying far more than they
should to receive their own payments Businesses can incur flat fees
on incoming wire transfers which can be a $20ndash50 fee assessed on
receiving the wire Moreover intermediary banks are sometimes in the
middle of a transaction and charge their own additional wiring fee
Exchange Rates Exchange rates affect both the importer
trying to pay for goods and the exporter trying to collect on the goods
Banks charge a premium on foreign exchange which is often a large
margin above the mid-market exchange rate
Payment Tracking International payments unfortunately
donrsquot have the tracking abilities of carrier services Importers have no
insight into if or when their payments have been delivered into the
exporterrsquos bank account and the exporter has no view into the status of
the payments
Payment Identification Exportersrsquo Accounts
Receivable departments spend time and resources identifying and
reconciling wire transfers as it is often difficult to identify any payer
information on a deposit
Importers Canrsquot Easily Pay Importers are often
constrained to making payments via wire transfer and are unable to
utilize more modern payment methods such as creditdebit card or
e-wallet methods
Fraud The more a business expands internationally the more
compliance and anti-money-laundering considerations there are that
need to be addressed
RYAN FRERE Vice President Global Payments
Here wersquove outlined six issues we commonly
see importers and exporters face when
dealing with international payments
To learn how Flywire can streamline your businessrsquos international payments visit flywirecombusiness
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
One thing when you are a large exporter and have the staff to seek out and penetrate export markets with distributors in place
Itrsquos another for a small company seeking export markets
This is the case of Computerized Auto Search (CAS) in Kansas City MO as it works to identify multiple export markets for its low-mileage one-owner fleets of pristine vehicles
Hosea Haywood owns and operates the company and has been selling pre-owned vehicles for some 30 years ldquoThe advantage I have is being able to offer a personalized vehicle purchasing experience
saving my buyers time and moneyrdquo said Mr Haywood ldquoNow Irsquom ready to sell our vehicles in other countriesrdquo
One of the ways CAS plans to develop international sales is by partnering with automotive resellers already in offshore markets There are a number of online resellers who are always looking for sources of reliable pre-owned vehicles
Mr Haywood has a blue-chip background in the automobile industry His credentials include having worked for the Ford Motor Credit Company and serving as a board member of a large vehicle remarketing company
He also participated in the SBA mentor proteacutegeacute program with Manheim the largest vehicle remarketing company in the world
Market trends can become barriers as well Some markets have enacted stricter environmental controls encouraging the sale of new vehicles CAS is looking to alternative markets primarily in Central American and other countries where they may be able to sell such vehicles directly to end-users
ldquoTaking all of this into consideration I am also seeing that there may be a market for well-maintained pre-owned heavy duty trucks tractor trailers and constructionfarm equipment in markets where new vehicles are not affordablerdquo he continued ldquoAt this point I am looking for some good in-country partners in nearby countriesrdquo
Visit wwwcomputerizedautosearchcomOr call 816-210-1109Email computerizedautosearchhotmailcom
Finding new markets may be just a matter of finding the right partners
Hosea Haywood owner Computerized Auto Search
Computerized Auto Dealership
July 2017page 8 July-August 2018page 8
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
TransimpexTranslators bull Interpreters bull Editors bull Consultants Inc
2300 Main St 9th Floor Kansas City MO 64108Tel 816-561-3777 bull Fax 816-561-5515
wwwtransimpexcom
Stay Cool Itrsquos hot in Kansas City these days But we want you to know that no matter how hot it gets Transimpex Translations continues to stand by to provide quality translations interpreters and interpreting equipment
If you are taking a vacation away from the heat somewhere our good wishes for cool water warm sand fun music loco souvenirs and balmy evenings
And if not ndash stay cool anyway
Options for consolidation of shipments with a view to prompt paymentAdditional ways of saving money to facilitate getting paid are expressed in the following opinions
With the specter of increased tariffs and other financial pressures on exporters another way of looking at the overall payment perspective is to examine how your company may be managing shipping terms in addition to credit insurance covered separately
As Ursula Wegrzynowics of Chicago-based Emelev puts it ldquosmall to medium sized enterprises (SMEs) manufacturers should re-examine how they handle shipping terms to both save money and insure paymentrdquo
For example while many SMEs ship EXW (Ex Works) because their distributor insists on it they may be better off shipping CIF (Cost insurance amp Freight) The distributor may say they are consolidating shipments in Miami and that they are better able to manage the shipment
ldquoBut if that SME takes ownership of its logistics by accepting the advice and help of its freight forwarderrdquo said Ms Wegrzynowics ldquothey are actually taking better control of not only cargo insurance but assurance that their shipment will be covered if something happens in sea or air transitrdquo All of this adds up to best payment practice
The following is another opinion of an unnamed seasoned shipper from Pennsylvania ldquoIf a distributor wants to consolidate then Irsquoll tell them that I will sell to them FOB Plant The products will be packaged like a typical domestic order and then the distributor is responsible for export packaging at the consolidation site
The distributor has total responsibility for the products once they leave my plant I am paid regardless of whether the products are damaged before or during their overseas shipment In other words if he wants to consolidate that is up to him and I should not have any risk because he wants to do itrdquo
Ursula Wegrzynowics
page 9July-August 2018
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
bull Normal office hours (Monday through Friday) are 830 AM- 530 PM) By law employees cannot work more than 38hrsweek bull Meetings are formal Therefore you should not remove your jacketbull Business attire is conservativebull Handshake is appropriate for men and womenbull Business cards- Typically no English One side in Dutch and the other in French Presentation is formal (Of course you may want to bring your English version business cards as well)bull Gift giving is not a normal business practicebull German French and Flemish (Dutch) are official languages but English is spoken by many people Walloons (mostly south) speak French and Flemish (mostly north) speak Dutchbull Common for Belgians to be multi-lingualbull A strong sense of hierarchy prevails in businessbull Since compromise is a part of Belgian culture thee is a tendency to avoid immediate commitment
bull People are results oriented and generally have good common sensebull Belgians are generally very amiable and polite peoplebull They are particularly proud of their beer cuisine and chocolates and compliments about them are okaybull Men and women are treated equally as in most world culturesbull Belgians take appearance seriously and both men and women usually dress stylishly in a formal manner bull They keep their own counsel and are self- reliantbull Status symbols are not big therebull Punctuality is importantbull Cleanliness is a matter of national pridebull Family is very important
PROFILEBelgium
A Few Practical Tips for doing business in Belgium
July 2017page 10 July-August 2018page 10
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
Belgium Overview Belgium became independent from The Netherlands in 1830 Political divisions between the Dutch-speaking Flemish in the north and French speaking Walloons of the south resulted in the passing of constitutional amendments granting those regions formal recognition and autonomy Belgium is bordered by the North Sea in the north and between France The Netherlands and Luxembourg Germany borders on the east Brussels Bruges Antwerp and Ghent bull Size About the size of Marylandbull Population Distribution Population is mainly concentrated in the northern 23 of the country Approximately 98 live in urban areasbull Population 115 million (July 2017 est)bull Population Growth 07 (2017 est)bull Literacy Rate 99bull Government Federal parliamentary democracy under a constitutional monarchy As a result of a 1993 constitutional revision there are now 3 levels of government-federal regional and linguistic community with a complex division of responsibilities bull Capital City Brussels
Economy Two of Belgiumrsquos major advantages are location and a well developed transportation system Service and high- tech industries are concentrated in northern Flanders while Wallonia has such industries as metal working and coal They country depends on foreign sources of energy the planned closure of all nuclear plants by 2025 is expected to increase this dependence bull GDP $4917B (2017 est)bull GDP Growth Rate 16 (2017 est)bull Unemployment Rate 75 (2017 est)bull Exchange Rate 1 US Dollar= 086 EUROS (71218 - 1100AM)bull Labor Force 532 million (2017 est)bull Labor Force Makeup Agriculture - 13 Industry - 186 Services - 801 (2013 est)bull Major Industries Engineering metal products motor vehicle assembly transportation equipment scientific instruments processed food and beverages chemicals pharmaceuticals basic metals textiles glass diamond cutting
International Tradebull Major Exports Chemicals machinery and equipment finished diamonds metals and metal products foodstuffs bull Total Exports $3091B (2017 est)bull Major Imports Raw materials machinery and equipment chemicals raw diamonds pharmaceuticals foodstuffs transportation equipment oil productsbull Major Export Partners Germany - 167 France - 154 The Netherlands - 112 United Kingdom - 89 US - 58 Italy - 52 (2017)bull Total Imports $3061B (2017 est)bull Major Import Partners The Netherlands - 161 Germany - 136 France - 95 US - 815 UK - 48 Ireland - 45 China - 43 (2017)
Sampling of Belgian English Language News Website
bull The Brussels Times - daily online general news geared to English speaking expatriates - wwwbrusselstimescom bull New Europe- general European news - wwwneweuropeeu (published in Brussels)
Sampling of Belgian Companies bull Solvay SA- manufacturer of chemicals and plastics - wwwsolvaycom - Neder-Over- Heembeekbull Agfa-Gevaert - analog and digital imaging products and systems - wwwagfacom - Mortselbull Anheuser-Busch InBev SANV - breweries soft drinks liquor - wwwab-inbevcom - Leuvenbull Associated Weavers Europe ndash carpeting - wwwcarpetyourlifecom - Ronsebull Bekaert - advanced materials coatings engineered wire - wwwbekaertcom - Kortrijkbull Carmeuse Group- lime limestone and products from those materials - wwwcarmeusecom - Louvain-la-Neuvebull Deceunick NV- PVC systems for windows and doors - wwwdeceuninckcom - Hooglede Gits bull DEME - construction engineering and remediation - wwwdemebe - Zwijndrechtbull ETAP Lighting - lights and lighting systems - wwwetaplightingcom - Mallebull Eurogentec - biotechnology - wwweurogenteccom - Seraing
page 11July-August 2018
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
Brussels Grand Place
July-August 2018page 12
bull Godiva Chocolatier - chocolates and related products - wwwgodivacom - Brusselsbull Metallo-Chimique International NV - recycling and refining of metals - wwwmetallocom - Beersebull VDL Jonckheere - bus manufacturing - wwwjonckheerebe - Roeselarebull NAQI skin care products - wwwnaqicom - Stadsbeemdbull Nyrstar- mining and smelting - wwwnystarcom - Balenbull Option NV-design development and production of broadband wireless technology devices - wwwoptioncom - Leuvenbull Reynaers Aluminum - aluminum construction materials - wwwreynaerscom - Duffelbull Ridley Bikes - racing bicycles - wwwridley-bikescom - Paalbull Sioen Industries ndash textiles - wwwsioencom - Ardooiebull Skytech - commercial helicopters - wwwskytech-helicopterscom - Brusselsbull Van Hool NV- buses trailers etc - wwwvanhoolbe - Koningshooikt
bull Umicore NV - refining and recycling of metals specialized metal products - wwwumicorecom - Brusselsbull Zetes Industries SANV - automatic identification equipment for people and goods - wwwzetescom - Brusselsbull UCB - biopharmaceuticals - wwwucbcom - Brussels
Public Holidays 2018bull New Yearrsquos Day - January 1bull Easter Monday - April 2bull Labor Day - May 1bull Ascension Day - May 10bull Whit Monday - May 21bull Belgian National Day - July 21bull Assumption Day - August 15bull All Saints Day - November 1bull Armistice Day - November 11bull Christmas - December 25
by Paul Mastilak InterMark3 Inc
