Vendors, distributors and resellers are being urged to pull together over the thorny issue of credit by signing up to a Financial Accord.

The first meeting of the Channel Finance Forum last month saw 20 delegates from various parts of the industry converge to discuss how the channel can help itself through the current financial crisis.

A Financial Accord is now being drawn up to encourage more transparency around credit, particularly between distributors and resellers.

Keith Warburton, chairman of the Professional Computing Association -­ which is backing the process ­- said: “This is about getting the industry working together and building trust.”

Warburton said the Accord may call on resellers to disclose more information to distributors. In return, it will also seek to prevent distributors arbitrarily changing resellers’ credit limit policies without due notice.

“We hope as many distributors and vendors as possible will get involved before it is committed to print and therefore have an opportunity to endorse this industry-beneficial move,” he added.

Adam Harris, managing director of reseller Bear IT, which attended the Forum, agreed that resellers and distributors are often not open enough with each other.

“For a long time the channel has been about what everyone can get for themselves,” he said.

“If we are to succeed, we need to work a lot more closely together, from the manufacturer down to distributors and resellers.”

Warburton said a first draft of the Financial Accord would be circulated at the Finance Forum’s second meeting in July.