The Group’s
traditional wholesale outlets also practice an old mercantile law known as Del
Credere Agenting. Del Credere, meaning belief or trust in Italian, involves the
selling of goods by an agent for his principal on credit, while undertaking for
an additional commission to sell only to persons who are absolutely solvent.
His position is thus that of a surety who is liable to his principal, should
the vendee make default.
Del Credere agenting is undertaken by the Group’s wholesale outlets primarily
for fresh produce or similar items that require quick turn around times.
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