The Boating Industry Association Ltd (BIA), Australia’s peak industry body representing the interests of boating, today announced a new partnership with Ebury, a specialist foreign exchange provider supporting businesses in the marine industry helping them manage their currency risks and maximise profits.
BIA CEO Andrew Scott said, “We are excited to welcome Ebury into the BIA partnership network.
“This partnership enables us to access Ebury’s technologies, platforms and significant market strength in the competitive Financial Exchange (FX) sector, providing our members with exceptional value and marketing-leading expert support.”
Ebury Head of Dealing Patrick Idquvial said, “Ebury is delighted to partner with the Boating Industry Association and through this alliance BIA Members will gain direct access to the Ebury team providing valuable market insights and analysis to assist them in accurately budgeting and forecasting their FX needs.”
Founded in 2009 and majority owned by Banco Santander, one of the world’s largest banks, Ebury has a team spanning 24 global offices, providing access to local and global expertise, and a suite of unique product offerings helping businesses to accelerate and simplify international finance.
Idquvial said, “Taking the example of a boat dealer importing from the US or Europe, Ebury will monitor FX movements on behalf of the dealership so they can quickly adapt to changes and mitigate potential risks in USD or EUD rates. Further, we can offer the dealership a variety of hedging tools, such as forward contracts and options, to secure favourable exchange rates and protect their margins in these currencies.”
The collaboration will provide BIA Members access to a range of exclusive benefits including:
- Offer market-leading FX rates
- Forwards and Options out to 5 years
- Forwards with no up-front deposits
- Transactions in over 140 currencies, including Exotics
- International bank accounts in their name, to hold balances in foreign currencies and access funds online at any time
- 24/7 Access to Ebury Online anytime, anywhere via a desktop, mobile or tablet for real-time status of trades and payments and to manage both FX & Trade Finance on one convenient platform
- Dedicated dealer as one point of contact for all enquiries
BIA Members will further benefit from a Trade Finance package delivering:
- Unsecured line of credit of $100,000-$5 million
- 150 days term from invoice payment date
- Interest-only (0.8-1.2%)
- No Establishment, Monthly, Service, Unutilised Line or Exit Fees.
Andrew Scott said, “I would encourage any BIA Member with a current or future exposure to FX transactions to explore the benefits and opportunities this partnership offers. Competing in the global market in which our world-class manufacturers and dealership operate deserves a world-class FX partner and with Ebury we are sure BIA Members will welcome the support now available to them.”