The RV Dealers Association of Canada has formed a new endorsement partnership with Cambridge Global Payments, one of the largest bank-independent providers for international payments and foreign exchange solutions globally, including strategies for currency risk management. Cambridge has more than 13,000 clients worldwide, nearly 500 employees and transacts more than $40 billion annually.
Dealers will be able to utilize Cambridge’s solutions to help mitigate foreign exchange exposure for their day-to-day business needs. This type of program will enable dealers to potentially capture upside risk while protecting against the downside. Cambridge will work with RVDA of Canada’s dealer body to implement, manage, and hedge against currency market risks in a collaborative and active approach. Additionally, its award-winning trading platform enables businesses to manage their global payments from a single point of access.
“With the majority of new RVs as well as parts coming in from the U.S., a program such as this will be very beneficial to our membership,” said Herb Cowen, RVDA of Canada Chairman. “Our new partnership with Cambridge Global Payments will ensure that our members can manage their cash flow in a more stable manner as well as protect their assets when markets become more volatile. We look forward to working with Cambridge Global Payments.”
“Cambridge Global Payments is incredibly excited about our endorsement partnership with the RVDA of Canada in that we see within its membership a group of companies spanning the entire country that can benefit greatly from improved access to currency hedging and cross-border accounts payable services,” said Mark Frey, president of Cambridge Global Payments. “The RVDA of Canada is a member-driven organization that we are very proud to be associated with and we look forward to helping RV dealers across the country grow their businesses and find solutions to their cross-border payment and hedging needs.”