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Taking the risks out of working in the international marketplace BCEIA's newest Premier Member can help members and associates save money and reduce risks associated with foreign exchange transactions

Vancouver, September 5, 2012 - BCEIA's newest Premier Member has a suite of services that could help members and associates working in international markets to save money and avoid the financial risks associated with foreign currency transactions.

Western Union Business Solutions (WUBS), the corporate trading arm of Western Union is the world's largest non-bank provider of business payments offering services through locally licensed affiliates in 23 countries. 

Supported by a network of trading offices, strategic global banking relationships and a global clearing network, businesses can now send cross-border payments in more than 140 currencies.

Having recently joined the BCEIA, the Vancouver Corporate office of WUBS is extremely excited about working with leading companies operating within the green economy. Varun Chandran, BCEIA's Corporate Service contact at WUBS is very familiar with the problems and challenges faced by firms in the environmental services sector that wish to do business in Asia, the Middle East, Latin America and Africa where banking services may pose extra levels of financial risk.

"Dealing with currency risk, especially in markets as volatile as they are at the moment, poses a significant challenge for smaller companies," he notes.  "Large companies can hedge their currency exposure through their banks in the over-the-counter (OTC) market. They can negotiate rates with the banks and get good deals. But small and medium enterprises (SMEs) often find themselves short-changed by the lack of transparency and the high costs of currency transactions. We can help with personalized, individual services."

"Whether you are an environmental remediation company seeking contracts in the Middle East or a cleantech company with foreign receivables, WUBS has a worldwide dealer network offering low cost customized solutions that can protect your revenues and your profits. You can conduct international payments with ease and expand your business activities abroad through easy credit arrangements."

Through its strong focus on international payment services and expertise in the foreign exchange industry, WUBS clients can pursue international market opportunities via:

i)                    International Payments - Manage payments via our online system, 24 hours a day, seven days a week with multiple booking authorization levels, comprehensive transaction reporting and a customized client platform.

ii)                   Specialized Currency Products & Services - Electronic Wire Transfers in over 140 currencies, foreign currency drafts, exchange rate bids, multi-currency banking accounts for receivables & payables, institutional market research and analysis, global banking relationships.

iii)                 Risk Management - Forward Contracts (the ability to lock in guaranteed rates for a period of time), Corporate Credit for hedging purposes, zero cost currency derivatives that enable protection and participation rates.

Vancouver fine wine importer Nick Kosick of CRU Wine Selections Ltd. saved $30,000 within eight months when he switched from straight bank foreign currency exchange to managing his transactions with forward contracts and market bids though Western Union four years ago. It's fairly critical that small businesses [hedge]," says Karl Schamotta, a senior market strategist for Western Union Business Solutions.

 "The important thing to keep in mind when dealing with foreign currency transactions is the need to focus on running your business. You shouldn't have to worry about currency volatility. Working with WUBS takes those risks off the table and allows businesses to budget around the funds they are receiving or paying."

 Interested companies can speak to Varun Chandran in complete privacy to explore opportunities on how to save money and to take the uncertainties out of dealing with foreign suppliers and business contacts. Call him at 604.482.6018(Direct) or e-mail at varun.chandran@westernunion.com .

More information WUBS is available at http://business.westernunion.ca