Mostafiz Uddin Courtesy'A united front of manufacturers of all apparel producing countries can be instrumental in re-addressing the balance of power between buyers and suppliers. The pandemic was the time when collaboration and cooperation between buyers and manufacturers were needed more than any time before. “A united front of manufacturers of all apparel producing countries can be instrumental in readdressing the balance of power between buyers and suppliers. As relationships between buyers and RMG manufacturers have developed over recent years, a prevalent payment system that has emerged in our apparel industry is that of Sales Contract (SC). The business deal between buyers and manufacturers should be performed through Letter of Credit (LC) in the post Covid era.

Source: Dhaka Tribune July 04, 2020 15:45 UTC