---------- Forwarded message ----------
Date: Tue, 26 Oct 1993 11:05:59 EDT
From: Susan Davis <UNLSDB%UBVM.BITNET@uga.cc.uga.edu>
Subject: Re: Exchange Rates (Hannah King)

****SEE COMMENTS AFTER ORIGINAL MESSAGE*****
>Date: Mon, 25 Oct 1993 18:22:57 -0500
>From: Hannah King <KINGH%SNYSYRV1.BITNET@uga.cc.uga.edu>
>Subject: Re: Exchange Rates (Roberta Winjum)
>
>I believe we are long past the time we can afford (if we ever could) to
>ignore exchange rate practices, confusing though they may appear to be
>initially.  Spending half a million on anything requires that those
>authorizing payment determine whether or not the charges are correct.
>Spending half a million dollars requires that those authorizing payment be
>able to demonstrate to both auditors and superiors how accuracy is ensured
>and errors avoided.  At least one vendor, Harrassowitz, identifies the
>exchange rate used for each title on the invoice (feedback from another
>responder who prefers to remain anonymous).  We need to demand that our
>invoices show:
>        the rate in foreign currency,
>        the date the subscription was ordered/paid
>        the exchange rate in effect on that date
>        the rate figuring the exchange rate
>        final rate charged
>        any service charge applied
>
****I don't know about the rest of the subscribers to this list, but I am
not certain I need/want the above information on my invoices.  I think these
points are better negotiated with the vendors in question, or made optional,
at the least.  One may find that it costs the vendor more in staff processing
time to provide this information on each and every invoice, and therefore,
result in an increased service charge to provide it.  I am not against knowing
or having access to this information, indeed we ought to know what sort of
exchange practice(s) our vendors use, what our service charges are, and how
the s/c is calculated.  I believe the trend is toward most large publishers
pricing in US$, so the importance of exchange rates may be diminished.

I would also like to point out that many foreign vendors supplying exclusively
foreign material usually do provide the exchange rate applied on their
invoices.  I have seen it on a number of vendors' invoices besides Harrassowitz
and I know that I have vendors who provide both foreign and domestic titles
who may find it quite difficult to easily and cheaply provide this
detail on all invoices.

Again, I strongly recommend that the issue of exchange rates be explored
directly with one's vendors, and I'd like to hear some response from the
vendors who monitor this list!

*****************************************************************************

Susan Davis                           BITNET: UNLSDB@UBVM
Head, Periodicals                   INTERNET: UNLSDB@UBVM.CC.BUFFALO.EDU
Central Technical Services             PHONE: (716) 645-2784
Lockwood Library Bldg.                   FAX: (716) 645-5955
State University of NY at Buffalo
BUFFALO, NY  14260-2200