Under Exporters Representation, the assumption is that the importers are in West Africa.
This representation is done in two phases as follows:
- As SOLE AGENTS on the West Africa market mainly on goods that have been tried on the West African market through product or brand promotion and marketing by ITF Network Co. Ltd. As Sole Agents, ITF Network Co Ltd creates a market chain for the product or goods within the West African market causing regular need of the principals’ goods and making it possible for ITF Network Co Ltd to import heavily according to the production capacity of the manufacturer.
- As Sales & Manufacturer Representative, ITF Network Co Ltd represents goods of either overseas Manufacturer directly or their primary distributors or regional distributors on the West African Market on either goods or brand that are tried or under promotion on the West African Market.
Note that the market potential for overseas goods in West Africa is very huge and large. And the product list is unlimited.
ITF Network Co. Ltd represents list of exporters who are exporting or will be exporting to importers in Ghana and within the West Africa sub region. This representation is done by ITF Network Co. Ltd aiding to bridge the financing gap between the exporters and the importers in Ghana and within the West African sub-region. The arrangements is that, the Exporters after completing sales terms and shipment with the importer, both parties registers the said agreement with ITF Network Co. Ltd by way of appointing ITF Network Co. Ltd as their collateral manger. ITF Network Co. Ltd completes separate agreement and contract with the exporter and same with the importer. Under the terms of the said contract, the exporter ships the goods to the importer but through ITF Network Co. Ltd.
That, upon receipt of evidence of shipment of goods by the exporter, and by the pass of verifications that the goods are authentic and exactly what exporter had agreed with the importer, ITF Network Co. Ltd pays promptly 5-10% of the invoice value of the goods on behalf of the importer to the exporter. The percentage depends on the type and kind of goods as well as the volume and value of goods. That, on arrival of the goods, ITF Network Co. Ltd acting for and on behalf of the exporter clears the goods meant for the importer from the port and holds lien on the goods by warehousing the goods on behalf of the exporter but at the cost of the importer.
That, ITF Network Co. Ltd grants the importer access to inspect the goods or introduce the goods to his/her clients whilst the goods remain in the warehouse (custody) of ITF Network Co. Ltd.
That, ITF Network Co. Ltd releases any fraction or portion of the goods or the whole of the goods to the importer provided the importer had paid its equivalent sum of money against the agreed accounts of the exporter and the exporter had confirmed same to ITF Network Co. Ltd in writing.
That, in case of default on the side of the importer, ITF Network Co. Ltd under the mandate of the exporter assigns the remaining goods under sales to a third party for its value to be paid against the accounts of the exporter and goods released to the third party.