Sec. 32-505. International trade representatives.
202 words·~1 min read·
/ct/title-32/chapter-588v-international-trade/32-505·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)The Commissioner of Economic and Community Development may retain trade representatives in foreign countries to assist Connecticut businesses in finding
(1)export customers, agents and distributors and
(2)foreign companies to invest in Connecticut.
(b)The commissioner shall, within available resources, establish an international trade representative program to assist Connecticut businesses in exporting their products to foreign markets. On or before October 1, 1994, the commissioner shall establish a registration process for businesses interested in participating in the program. Such process shall include, but not be limited to, a requirement that the business agree to pay, over a three-year period beginning on the date of execution of a contract for an export sale, a success fee of not more than three per cent of the price of the products being sold under such transaction, excluding freight, handling and insurance charges. The department shall deposit such fees in the account established by section 32-504 .
(c)The commissioner shall keep a separate accounting of all fees paid from such program and use such accounting as a measurement of export sales achieved through the program. The commissioner may utilize the services of an impartial third party to monitor the sales of program participants.