Doing business with Belgium RaDo band BRIEF Issue 1/April 7, 1988 Quick Cheque Service Bctalingen uit Amerika Service van de Guilder/Dollar Forecast The Netherlands in brief continued from page 1 ment is The Hague, but Amster dam is the capital. In principle, the parliamentary elections are held once every four years. The Kingdom of the Netherlands also includes the Netherlands Antilies and Aruba, which lie in the Caribbean. Dutch, a Ger- manic language, is spoken throughout the country. TMF Over 300 guests gathered on November 26 at Rabobank's Head Office in Utrecht for a seminar on 'Doing Business with Belgium'. 'Although the greater part of our neighbouring country is Flemish (Dutch) NORWAY DENMARK IRELAND UNITED KINGDOM G D R ELGIUM POLAND GERMANY CZECHOSLOVAKIA FRANCE AUSTRIA SWITZERLAND BULGARIA YUGOSLAVIA PORTUGAL - I AIN continued from page 1 rectly to Rabobank in New York, who immediately collects the cheque at the New York bank on which the cheque is drawn. Upon receipt of the cheque Rabobank New York informs the Dutch exporter by telex of the relevant information of that cheque, and the proceeds are transferred to the beneficiary's account with his local Rabo bank with the appropriate value date. Shortening the routing of US dollar cheques in this way, means that Dutch exporters can receive their export pro ceeds up to two weeks faster than usual. Currently, some 150 exporters are benefiting from the Quick Cheque Service USA, mostly exporters of fresh flowers and flower bulbs. To- gether with ADCA-BANK the Quick Cheque Service West Germany was developed and introduced in 1985. Though cheque collec- tion time could only be reduced by some two to four days, the average cheque amount is still large enough to result in con- siderable saving of interest. More than 230 Dutch exporters are using the Quick Cheque Service Germany to collect about 500 cheques each month with a volume of well over 6 mil- lion Deutschemarks. Reversely, ADCA-BANK is now introducing the Quick Cheque Service Nie- Rabobank CJ Qukk Cheque Service U.S. V. An advertisement for the Quick Cheque Service, aimed at the Dutch market. derlande for ADCA clients ex- portingtothe Netherlands. In cooperation with our Lon- don branch the most recent Quick Cheque Service was de veloped with regard to the UK and now works for some 180 clients exporting to the UK. The success of our Quick Cheque Service is not only evidenced by the number of contracted clients, but also by the fact that the internationally famed ABN has imitated our Quick Cheque Service, albeit with less favour- able conditions for the expor ter. Moreover, four years of ex- perience with the Quick Cheque has led to the current no com- plaints level for this unique Rabobank service to exporting clients. MvdB speaking, Belgium must definite- ly be looked upon as a foreign country with its own cultural background and therefore a dif ferent life style', emphasized Rabobank's vice chairman Hen- ry Klarenbeek in his opening speech. The audience consisted of some 250 exporting clients of our member banks, and some 70 representatives from these local banks. Experts from the Netherlands Chamber of Commerce for Belgium in Brussels gave presentations on how to market products in the Belgian market as well as on the relevant legal and fiscal aspects when doing business in Belgium. One of our Dutch corporate clients presented his valuable experiences of setting up a subsidiary in the Belgian market. Finally Jacques Jansen, General Manager of Rabobank's Antwerp Branch, informed the audience of Rabobank's role in Belgian-Dutch trade and specifi- cally of the practical import- ance of our Antwerp Branch to our exporting clients. The for- mal part was completed by an interesting panel discussion, led by Henk Visser, General Manager International Division. The seminar was closed by an informal gathering, where differ ent kinds of Belgian beer were served together with delicious typical Belgian snacks. Ever since we started with these Early in 1987 our colleagues were asked to predict the guil- der/dollar exchange rate at the end of the year. More than one hundred people participated. At that time the rate was 2.43 guilders to the dollar and the mood was very pessimistic. The average forecast was 2.169 guilders to the dollar. At the 16th of December the fixing was 1.8365, there was no big surprise that the average fore cast was 34 cents on the posi- tive side. At the official gather- Rien Willemsen, winner of the guiider/dotlar forecast. Great interest in 'Doing Business with Belgium'. country seminars (Spain, France, United Kingdom, South East Asia, Belgium) we have had increasing numbers of parti- cipants. We therefore are curi- ous to know how many clients will participate in our April semi nar 'Doing Business with the USA' and 'Germany' in Novem ber. The objective of organizing such seminars is twofold: Rrstly, to demonstrate Rabobank's in- volvement in international trade and secondly to promote coope ration between member bank: clients and our foreign branches and representatives. MvdB ing on the 22nd of December honours were given to Rien Wil lemsen for having foreseen the exchange rate at such a de- plorable low position. Mr Wil lemsen is a member of the team of forex dealers and as such knowledgeable about this market. The biggest misfixer was Jan Remie (3.23 guilders to the dollar), formally working with the international loans department, he now works with the support team for interna tional products for the locah banks. Although his views were correct on how the exchange rate should develop if it was to further Dutch trade, in terms c' reality he was far off and co. sequently he had to pay the highest contribution to the fund, which Mr Willemsen glad- ly pocketed. Last year we start ed inviting the foreign branches and affiliates to give their views. Although some rather obscure calculations were done by our overseas colleagues, only the party from ADCA-BANK was able to come near Mr Wil lemsen (1.85). Our branches in Singapore and New York did no better than scoring the average (2.153 and 2.177, respectively). We are again inviting all our col leagues from the branches and affiliates to participate in this year's forecast of the Dutch guilder/dollar exchange rate on the 13th of December 1988. They should note that every cent difference means a contri bution of 10 (Dutch) cents to the fund, which will be given to the best fixer. CvR

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