strategy - what is strategy?

Overall Definition:

Johnson and Scholes (Exploring Corporate Strategy) define strategy as follows:

"Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations".

In other words, strategy is about:

* Where is the business trying to get to in the long-term (direction)

* Which markets should a business compete in and what kind of activities are involved in such markets? (markets; scope)

* How can the business perform better than the competition in those markets? (advantage)?

* What resources (skills, assets, finance, relationships, technical competence, facilities) are required in order to be able to compete? (resources)?

* What external, environmental factors affect the businesses' ability to compete? (environment)?

* What are the values and expectations of those who have power in and around the business? (stakeholders)

Strategy at Different Levels of a Business

Strategies exist at several levels in any organisation - ranging from the overall business (or group of businesses) through to individuals working in it.

Corporate Strategy - is concerned with the overall purpose and scope of the business to meet stakeholder expectations. This is a crucial level since it is heavily influenced by investors in the business and acts to guide strategic decision-making throughout the business. Corporate strategy is often stated explicitly in a "mission statement".

Business Unit Strategy - is concerned more with how a business competes successfully in a particular market. It concerns strategic decisions about choice of products, meeting needs of customers, gaining advantage over competitors, exploiting or creating new opportunities etc.

Operational Strategy - is concerned with how each part of the business is organised to deliver the corporate and business-unit level strategic direction. Operational strategy therefore focuses on issues of resources, processes, people etc.

How Strategy is Managed - Strategic Management

In its broadest sense, strategic management is about taking "strategic decisions" - decisions that answer the questions above.

In practice, a thorough strategic management process has three main components, shown in the figure below:

Strategic Analysis

This is all about the analysing the strength of businesses' position and understanding the important external factors that may influence that position. The process of Strategic Analysis can be assisted by a number of tools, including:

PEST Analysis - a technique for understanding the "environment" in which a business operates

Scenario Planning - a technique that builds various plausible views of possible futures for a business

Five Forces Analysis - a technique for identifying the forces which affect the level of competition in an industry

Market Segmentation - a technique which seeks to identify similarities and differences between groups of customers or users

Directional Policy Matrix - a technique which summarises the competitive strength of a businesses operations in specific markets

Competitor Analysis - a wide range of techniques and analysis that seeks to summarise a businesses' overall competitive position

Critical Success Factor Analysis - a technique to identify those areas in which a business must outperform the competition in order to succeed

SWOT Analysis - a useful summary technique for summarising the key issues arising from an assessment of a businesses "internal" position and "external" environmental influences.

Strategic Choice

This process involves understanding the nature of stakeholder expectations (the "ground rules"), identifying strategic options, and then evaluating and selecting strategic options.

Strategy Implementation

Often the hardest part. When a strategy has been analysed and selected, the task is then to translate it into organisational action.

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• Dua Filosofi Kunci dalam Pengembangan Talent Manag...
• Greed is Good (Serakah itu Baik)
• Greed is Good (Serakah itu Baik)
• Tea and Empathy with Daniel Goleman
• Fulvio Conti: The Thought Leader Interview

Dua Filosofi Kunci dalam Pengembangan Talent Management

by Yodhia Antariksa

Perbincangan mengenai pengembangan mutu SDM kini tengah disemarakkan dengan gagasan mengenai talent management. Esensi dasar dari gagasan ini adalah bagiamana sebuah organisasi mesti mampu secara konstan merekrut, mengembangkan, dan kemudian mempertahankan barisan SDM yang bertalenta tinggi serta berkinerja unggul.

Barisan SDM dengan talenta unggul yang menduduki strategic positions pada akhirnya memang merupakan life blood dari sebuah organisasi bisnis. Disini kita mungkin perlu menyimak sebuah ungkapan dari paman Bill Gates. Begini ia pernah berujar : silakan ambil 25 eksekutif kunci dengan talenta unggul dari perusahaan kami, dan dalam waktu tak berapa lama Microsoft akan langsung roboh.

Pertanyaanya kini adalah : lalu strategi terbaik apa yang mesti dilakoni untuk mampu mengembangkan talent management secara kokoh? Dalam kaitannya dengan hal ini, saya mencoba memetakan dua catatan filosofis yang layak digenggam manakala kita hendak merajut strategi talent management secara optimal.

Catatan yang pertama adalah ini : serangkaian studi empirik menunjukkan bahwa kehebatan sebuah organisasi bisnis sangat ditentukan oleh hanya 30 % karyawannya, terutama mereka yang menduduki posisi strategic/core positions. Ilustrasinya sederhana : bagi sebuah warung makan, posisi seorang koki adalah posisi yang amat vital; dan bukan kasir atau pramusaji atau bagian purchasing. Demikian pula bagi Microsoft, posisi yang amat penting adalah barisan programmer, bukan mereka yang duduk di bagian finansial, warehouse, ataupun bagian customer service.

Implikasinya jelas : untuk mereka yang menduduki posisi core, maka kita harus mati-matian mendapatkan talenta kelas dunia. Namun bagi mereka yang tidak menduduki posisi core, kita cukup mendapatkan pekerja yang standard saja, tidak perlu bagus-bagus amat. Alasannya sederhana : seorang pramusaji dengan talenta kelas dunia tak akan memberikan impak yang signifikan bagi kemajuan sebuah rumah makan. Demikian juga, seorang finance manager yang super sekalipun tidak akan memberikan dampak yang berarti bagi maju mundurnya Micorosft. Karena itulah, untuk posisi-posisi non-core ini kita cukup memelihara karyawan yang memenuhi standard kualifikasi saja – tidak perlu berambisi merekrut yang terbaik. Sebab efek diferensiasi dari posisi-posisi non core terhadap level kinerja perusahaan tidak banyak.

Sebaliknya, untuk mereka yang menduduki posisi core atau strategis, maka kita mesti bertarung mati-matian untuk mendapatkan talenta super. Sebab dalam posisi ini, perbedaan kinerja antara level standar dengan level superior akan memberikan dampak yang sangat signifikan bagi kemajuan perusahaan. Seorang koki dengan kualifikasi standar mungkin akan membuat rumah makan kita bisa terus eksis, namun kalau kita bisa merebut koki dengan kualifikasi kelas dunia, pasti rumah makan kita akan kebanjiran pelanggan.

Fakta diatas membawa kita kepada catatan penting kedua : perusahaan mesti mengalokasikan sumber daya waktu dan energi yang lebih besar (mungkin hingga 80%) untuk mengelola dan memelihara mereka yang duduk dalam posisi kunci (strategic positions); dan sisanya untuk mengelola para non-core employees. Nah, disinilah suka muncul masalah. Sering dengan alasan pemerataan, sebuah perusahaan memperlakukan semua karyawan dengan prioritas yang sama : semua mendapatkan porsi pelatihan yang sama, besaran bonus yang sama, dan kenaikan gaji yang sama.

Gaya manajemen a la sosialisme itu kelihatannya indah, namun dalam jangka panjang tidak akan pernah mampu membawa kita menuju kinerja puncak (gaya seperti ini mungkin lebih cocok untuk negeri Uni Soviet pada tahun 70-an dulu). Sebaliknya, kita mesti mengalokasikan sumber daya yang berbeda antara karyawan core dan non-core. Untuk karyawan non core kita cukup mengalokasikan sumber daya pengembangan yang standard saja (ya, secukupnya sajalah….). Namun untuk core employees yang bersifat strategis, kita mesti mengalokasikan sumber daya habis-habisan untuk memelihara dan mengembangkan talenta terbaik mereka.

Dengan pendekatan semacam itu, kita tidak perlu lagi repot atau terlalu ambisius untuk mengembangkan semua karyawan (dan ini sering membikin kita selalu kehabisan energi). Kita cukup memfokuskan energi terbesar kita pada karyawan yang menduduki posisi kunci dan bersifat strategis (dan acapkali jumlah karyawan golongan ini tidak lebih dari 30% jumlah total karyawan). Talenta-talenta karyawan di golongan inilah yang mesti kita hajar habis-habisan. Dengan pola ini, kita bisa lebih fokus, lebih bisa menghemat energi, dan yang paling penting : bisa meraih hasil yang jauh lebih produktif.

Demikianlah, dua filosofi kunci yang mesti selalu dikenang tatkala kita hendak membangun sebuah sistem talent management yang unggul. Sebuah filosofi yang berangkat dari keyakinan bahwa : not everyone of us is equal. Sorry, kedengarannya ini agak diskriminatif, but this is a fact of life. Accept this, or you will be left behind the dust.

sources from: http://strategimanajemen.net/2008/09/15/

2-filosofi-kunci-mengenai-talent-management/

Greed is Good (Serakah itu Baik)

by: Yodhia Antariksa

Greed is good, serakah itu baik….inilah sebuah testamen kunci yang pernah disuarakan oleh Gordon Gekko - tokoh antagonis yang diperankan dengan sangat sempurna oleh aktor Michael Douglas dalam sebuah film mempesona bertajuk Wall Street. Film besutan sutradara kondang Oliver Stone ini dirilis pada tahun 1987, berkisah tentang ambisi dan drama keserakahan para investor dan pialang saham di bursa Wall Street.

Film indah itu kembali menyeruak dalam memori ingatan saya, ketika minggu-minggu ini kembali tampil eposide tragis tentang kejatuhan Lehman Brothers, sebuah firma investasi raksasa terbesar ke-4 didunia. Episode ini merupakan rangkaian dari kejatuhan banyak firma investasi sebelumnya seperti kebangkrutan Bear Stearns, kehancuran Merril Lynch dan robohnya Citibank.

Ada banyak analisa teknis ekonomis menyeruak, mencoba memberikan penjelasan mengenai kisah rentetan kejatuhan itu. Namun pada akhirnya, semua tragedi kehancuran pasar finansial itu sejatinya berakar pada dua elemen paling purba dalam jantung manusia : ego dan keserakahan. Inilah sederet narasi tentang ego untuk selalu menggegam akumulasi kapital bahkan hingga langit ketuju. Inilah sederet kisah tentang keserakahan, tentang ambisi untuk selalu menumpuk harta hingga batas-batas yang tak terpermanai.

Kisah tentang ego dan keserakahan itu mestinya juga segera menggedor kesadaran reflektif kita, sebab ia ternyata juga hadir di sekitar kita. Ya, diam-diam ia juga selalu mendengus dalam jejak keseharian kita. Maka lihatlah, parade iklan dan reklame yang setiap hari hadir menyapa di layar kaca – dan setiap waktu menyergap setiap sudut ruang keluarga kita. Ia menggedor. Ia membujuk. Ia tersenyum dan mengulurkan tangan, mengajak kita berjalan-jalan dalam karnaval konsumsi tiada henti. Budaya konsumtif yang penuh kedangkalan pelan-pelan lalu mengisi setiap sudut kehidupan kita.

Lalu lihatlah pula, ketika derap konsumtifisme itu kemudian membuat dunia materi sebagai satu-satunya simbol kemenangan yang mesti dikejar dengan segenap peluh dan ambisi. Inilah jagat dengan mana derajat kesuksesan selalu ditakar dengan seberapa luas rumah yang kita miliki, seberapa kinclong mobil yang kita kendarai, dan seberapa keren smart-phone yang ada di saku baju kita. Inilah sebuah jagat dengan mana prestise dan kemegahan gaya hidup selalu menyeruak menjadi atribut yang mesti direngkuh dalam setiap dentang waktu.

Itu semua mestinya membuat kita mengajukan pertanyaan reflektif : adakah parade kesuksesan semacam itu yang mesti kita selalu kejar dalam hidup yang teramat pendek ini? Adakah ambisi dan ego untuk menderap kekayaan materi yang kian akumulatif merupakan sebuah pemberhentian yang harus selalu dituju? Adakah hidup kita harus selalu berakhir dalam narasi kesuksesan material — selarik kisah tentang rumah nan megah, mobil nan mewah dan simpanan uang miliaran rupiah?

Serangkaian pertanyaan itu mestinya selalu kita rawat dalam kesadaran batin kita, sebab kita tahu, jalan kebahagiaan hakiki mungkin tak bisa tergenggam melalui jalan penuh ambisi dan ego materi semacam itu.

Pada akhirnya, kita mungkin juga mesti selalu mengenang ajaran klasik ini : kelak ketika kita wafat, kita hanya terbujur kaku dalam selarik kain kafan diatas lubang 2×1 meter. Disana, segenap ambisi dan kekayaan material terhempas dalam kefanaan. Disana pula, segenap lukisan kemewahan dan kemegahan tersapu dalam buih fatamorgana.

Maka, mari kita bersama menundukkan kepala seraya merenungi dalam-dalam : apa tujuan hidup sebenarnya yang hendak kita raih dalam kehidupan yang sementara ini?

http://strategimanajemen.net/2008/09/22/greed-is-good/#more-497

Greed is Good (Serakah itu Baik)

by: Yodhia Antariksa

Greed is good, serakah itu baik….inilah sebuah testamen kunci yang pernah disuarakan oleh Gordon Gekko - tokoh antagonis yang diperankan dengan sangat sempurna oleh aktor Michael Douglas dalam sebuah film mempesona bertajuk Wall Street. Film besutan sutradara kondang Oliver Stone ini dirilis pada tahun 1987, berkisah tentang ambisi dan drama keserakahan para investor dan pialang saham di bursa Wall Street.

Film indah itu kembali menyeruak dalam memori ingatan saya, ketika minggu-minggu ini kembali tampil eposide tragis tentang kejatuhan Lehman Brothers, sebuah firma investasi raksasa terbesar ke-4 didunia. Episode ini merupakan rangkaian dari kejatuhan banyak firma investasi sebelumnya seperti kebangkrutan Bear Stearns, kehancuran Merril Lynch dan robohnya Citibank.

Ada banyak analisa teknis ekonomis menyeruak, mencoba memberikan penjelasan mengenai kisah rentetan kejatuhan itu. Namun pada akhirnya, semua tragedi kehancuran pasar finansial itu sejatinya berakar pada dua elemen paling purba dalam jantung manusia : ego dan keserakahan. Inilah sederet narasi tentang ego untuk selalu menggegam akumulasi kapital bahkan hingga langit ketuju. Inilah sederet kisah tentang keserakahan, tentang ambisi untuk selalu menumpuk harta hingga batas-batas yang tak terpermanai.

Kisah tentang ego dan keserakahan itu mestinya juga segera menggedor kesadaran reflektif kita, sebab ia ternyata juga hadir di sekitar kita. Ya, diam-diam ia juga selalu mendengus dalam jejak keseharian kita. Maka lihatlah, parade iklan dan reklame yang setiap hari hadir menyapa di layar kaca – dan setiap waktu menyergap setiap sudut ruang keluarga kita. Ia menggedor. Ia membujuk. Ia tersenyum dan mengulurkan tangan, mengajak kita berjalan-jalan dalam karnaval konsumsi tiada henti. Budaya konsumtif yang penuh kedangkalan pelan-pelan lalu mengisi setiap sudut kehidupan kita.

Lalu lihatlah pula, ketika derap konsumtifisme itu kemudian membuat dunia materi sebagai satu-satunya simbol kemenangan yang mesti dikejar dengan segenap peluh dan ambisi. Inilah jagat dengan mana derajat kesuksesan selalu ditakar dengan seberapa luas rumah yang kita miliki, seberapa kinclong mobil yang kita kendarai, dan seberapa keren smart-phone yang ada di saku baju kita. Inilah sebuah jagat dengan mana prestise dan kemegahan gaya hidup selalu menyeruak menjadi atribut yang mesti direngkuh dalam setiap dentang waktu.

Itu semua mestinya membuat kita mengajukan pertanyaan reflektif : adakah parade kesuksesan semacam itu yang mesti kita selalu kejar dalam hidup yang teramat pendek ini? Adakah ambisi dan ego untuk menderap kekayaan materi yang kian akumulatif merupakan sebuah pemberhentian yang harus selalu dituju? Adakah hidup kita harus selalu berakhir dalam narasi kesuksesan material — selarik kisah tentang rumah nan megah, mobil nan mewah dan simpanan uang miliaran rupiah?

Serangkaian pertanyaan itu mestinya selalu kita rawat dalam kesadaran batin kita, sebab kita tahu, jalan kebahagiaan hakiki mungkin tak bisa tergenggam melalui jalan penuh ambisi dan ego materi semacam itu.

Pada akhirnya, kita mungkin juga mesti selalu mengenang ajaran klasik ini : kelak ketika kita wafat, kita hanya terbujur kaku dalam selarik kain kafan diatas lubang 2×1 meter. Disana, segenap ambisi dan kekayaan material terhempas dalam kefanaan. Disana pula, segenap lukisan kemewahan dan kemegahan tersapu dalam buih fatamorgana.

Maka, mari kita bersama menundukkan kepala seraya merenungi dalam-dalam : apa tujuan hidup sebenarnya yang hendak kita raih dalam kehidupan yang sementara ini?

http://strategimanajemen.net/2008/09/22/greed-is-good/#more-497

Tea and Empathy with Daniel Goleman

by Lawrence M. Fisher

The author of Emotional Intelligence says business leaders will need greater interpersonal awareness in an era of corporate transparency.

Corporate carnivores once strode the earth. They were tough bosses with sobriquets like “Chainsaw Al” (Dunlap), “Neutron Jack” (Welch), and “Irv the Liquidator” (Irwin Jacobs). Though not extinct, the predatory chief executive has been tamed somewhat in the last few years. Even the hardest-edged managers must typically submit to 360-degree appraisals, based on interviews with their colleagues and direct reports, that quantify their emotional competence and assess their skill at dealing with people. More significantly, leaders associated with successful companies these days are known for their ability to be inclusive, responsive, unflappable, and — frankly — mature. In short, in the executive suite, mean and aggressive behavior is no longer seen as a personality trait that pays off.

Photographs by Steven Edson

If anyone deserves credit for bringing about this change in corporate culture, it’s Daniel Goleman. A former Harvard psychologist turned science reporter for the New York Times and then best-selling author, Goleman popularized the concept of “emotional intelligence” in the mid-1990s. He has been working with corporate leaders ever since to show how a steady heart and level head can lead to better performance.

“Being a ‘tough guy’ is no longer a winning strat­egy in organizations,” says Goleman. “It works in the early days of a startup or when people don’t have other choices. But even then it doesn’t work all that well, and the reason is neurological. Aggressiveness is not the optimal physical state for performance. Because emotional states are contagious and emanate from the boss outward, behavior that pitches people into a state of fear or anger also pushes them out of the zone for optimal cognitive efficacy. There may be some sort of narcissist hit to be had in being a bully or a tyrant, but you’re shooting yourself in the foot.”

Goleman first made this point in his bestseller Emotional Intelligence: Why It Can Matter More Than IQ, which was published in 1995 (by Bantam Books) and immediately attracted global press coverage. It went on to sell more than 5 million copies in 33 languages and 50 countries. Perhaps it was the subtitle, which evoked the widespread belief that being “book smart” alone doesn’t guarantee wealth, fame, authority, influence, or any other form of career success; people also need emotional control to rise to the top. Goleman’s elegant prose helped make his book popular. So did the book’s implicit sensitivity to the struggle facing many individuals in their middle years: to overcome their own narcissist impulses and take on the twin challenges of raising families and mastering demanding jobs.

More specifically, and to Goleman’s initial surprise (or so he claims), Emotional Intelligence rapidly acquired a following among managers and executives. Anyone who had to oversee a complex project with team members from multiple countries knew firsthand that, in moments of crisis, sheer intelligence was not nearly as valuable as the ability to be level-headed, free of anxiety, self-aware, and empathetic. By 2008, there were 27 books available on Amazon.com with the phrase “emotional intelligence” in the title or subtitle, at least 14 of them aimed directly at businesspeople.

“When Emotional Intelligence first came out, I felt I would know it was a success if I overheard two people talking about it,” Goleman says. “Now, if you Google ‘emotional intelligence,’ you get more than 2 million hits.”

Goleman himself published three follow-up books: Working with Emotional Intelligence (Bantam, 1998); Primal Leadership: Realizing the Power of Emotional Intelligence (with Richard Boyatzis and Annie McKee, Harvard Business School Press, 2002); and Social Intelligence: The New Science of Human Relation­ships (Bantam, 2006). The first two applied his concepts to the workplace; the third looked more closely at the ways in which social interactions — communications with people, especially those with whom there is an emotional connection — produce automatic neural responses in the human brain. Goleman compared these social interactions to thermostats that regulate not just emotions but many other things, including susceptibil­ity to disease (through immune systems) and the kinds of jokes people find funny. As with emotional intelligence, an individual’s social capabilities are far more important to success than many people recognize, and social sophistication and influence can be measured, tested, and improved.

source from : http://www.strategy-business.com/press/article/08308?gko=557e2-1876-27126679

Fulvio Conti: The Thought Leader Interview

by Art Kleiner

The CEO of Europe’s second-largest utility says that energy companies must adapt in a fast-changing global marketplace.

Photograph by Reed Young

Chief executives of energy companies face a paradoxical situation in 2008. On the one hand, their product is priced higher than it has been in living memory, and demand is growing fast. On the other hand, fuel is traded as a commodity in global markets, difficult to differentiate, with a raft of alternative fuels on the horizon. And its political and economic importance — as a factor in climate change, national security, and economic quality of life — is greater than ever. The result is an unprecedented set of competitive pressures, reshaping both the “upstream” en­ergy industry — those companies involved in exploration and production of oil and natural gas — and the “downstream” retail businesses that sell electricity, heating fuel, and automobile fuel to customers.

Of the corporate leaders wrestling with these pressures, few are as articulate as Fulvio Conti. Conti is the chief executive of Enel SpA, the preeminent Italian electric and gas power company and the second-largest utility company in Europe, in terms of installed capac­ity. Enel is at the forefront of a transition affecting all power utilities: From their past as strictly regulated entities (often owned by governments), they are rapidly evolving into global energy enterprises operating in a variety of markets.

Only a few years ago, Enel sought diversification within Italy, buying local water companies and establishing a telephone company called Wind. When Conti became CEO in 2005 (he had been Enel’s chief financial officer), the company shifted direction. Enel divested itself of Wind and other nonenergy businesses, and focused purely on en­ergy, expanding into regions where it could find either customers or supplies of fuel. Enel now operates in 21 countries, including Spain, Portugal, and France; most countries in Latin America; the United States; Greece, Romania, Slovakia, and Bulgaria; and Russia. Enel also expanded from its baseline energy businesses — electric power and natural gas — into a variety of forms of energy production, including geothermal, nuclear, photovoltaic, wind, and coal. And it invested heavily in researching and promoting energy efficiency.

This is what it will take, Conti believes, to operate as an energy provider in the next decade. One must be prepared for global growth, be ready to work with a variety of energy producers and technologies, and be focused on both customer and community needs.

Conti and others at Enel are also developing innovative new ap­proaches to pub­lic engagement. In the book Megacommunities: How Leaders of Government, Business and Non-Profits Can Tackle Today’s Global Challenges Together, by Mark Gerencser, Reginald Van Lee, Fernando Napolitano, and Christopher Kelly (Palgrave, 2008), Enel is featured for its efforts to develop a multistakeholder approach, especially in regions where it seeks to site new plants. These efforts began after an episode in 2005, when the company had to walk away from a joint venture with British Gas, a liquid natural gas processing facility in Brindisi, Italy, after protests, press criticism, and local government opposition stalled the project. To Conti, this episode represented a turning point; it showed that the established practices for community relations were no longer suitable and that global corporations needed to find new forms of local presence. The episode also led the company to create the Enel Endowment for En­vironmental Economics, a new faculty position at Harvard University.

With Megacommunities co­author Fernando Napolitano — the managing partner of Booz & Company’s Italian office and a member of Enel’s board — strategy+business met with Fulvio Conti at his office in Rome, in May 2008. A few weeks earlier, in a speech made at the 11th International Energy Forum (a bi­ennial gathering of energy ministers and industry executives), Conti had laid out an “energy equation”: four imperatives facing both government and business. His perceptions apply not just to the oil, gas, and electric power industries, but to any com­pany struggling to form a global and local footprint.

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Sedikit deskripsi tentang export and import

Eksport dan import biasa kita dengar dalam dunia bisnis international.
Pada dasarnya ekspor dan impor itu layaknya seperti perdagangan konventional,
dimana antara pembeli dan penjual melakukan transaksi jual dan beli,
seperti layaknya disebuah pasar tradisional.
Tetapi ingat, Sistem ekspor dan impor sama sekali tidak bisa disamakan dengan perdagangan konventional biasa. Kenapa ?

Ekspor impor memiliki aturan dan tata cara yang harus dipatuhi dan diwajibkan,
atau dengan kata lain memiliki aturan tersendiri, yang mana harus dipatuhi dan dijalankan oleh sipelaku ekspor dan ekspor tersebut.

Tetapi bagaimana jika terjadi kecurangan dalam proses ekspor dan impor tersebut?
Setiap negara memberlakukan perundang-undangan dan peraturan tertentu untuk mencegah atau meminimalkan terjadi kecurangan dalam proses ekspor dan impor.

Ada banyak Kerugian dan Keuntungan dari perdagangan konventional antara lain :
Keuntungan (Plus):
- Pembayaran Langsung (Cash Payment)
- Proses Mudah (Easy Process)
- Tidak ada ikatan dan tanggung jawab tertentu (without link)
- Biasa dilakukan dalam jumlah kecil (Small Quantity)

Kerugian (Minus):
- Tidak ada Garansi (No Warranty)
- Harus datang langsung ke kios atau pasar (come to market)

Open the Account Bank For Exporting and Import

Open the Account Bank For Exporting and Import
(Membuka Rekening Bank Untuk Keperluan Ekspor dan Impor)

For import or exporting, a exporter or importer have to have the bank account pickaback process commerce international. Many the importer or exporters confusing, which bank which give the best service. Following a few tips in determining the bank to be selected :
Untuk keperluan ekspor atau impor, seorang eksportir atau importir harus mempunyai rekening bank yang mendukung proses perdagangan international. Banyak eksportir atau importir yang bingung, bank mana yang memberikan layanan terbaik. Berikut sedikit tips dalam menentukan bank yang akan dipilih :
1. HAVE INTERNATIONAL BANKING NETWORK.
1. Mempunyai jaringan perbankan international.

2. Can assist to give you or looking for the accurate information concerning your business partner around the world and also can give you accurate information and newest concerning market international and assist to give the information concerning business partner and potential market related to your the product.
2. Dapat membantu memberikan atau mencarikan informasi yang akurat mengenai mitra bisnis Anda diseluruh dunia serta mampu memberikan informasi yang akurat dan terbaru tentang pasar international dan membantu memberi informasi tentang mitra bisnis dan pasar yang potensial yang berhubungan dengan produk yang kita tawarkan.

3. PAYMENT CONDITION
OPEN ACCOUNT: this option have smallest risk as payment because made after goods accepted or receipted.
DOCUMENTARY COLLECTION: addiction with document, offer the payment choice lower risk to exporters or importers because generally payment will affect in transfer of document to goods
DOCUMENTARY CREDIT: is processing to be written by bank publisher concerning guide of importer to exporter doing payment of goods with selected condition. However, importers require fasiltas to raise the document credit
ADVANCE PAYMENT: this payment method have higher risk because payment done before goods accepted or receipt.
3. KONDISI PEMBAYARAN
OPEN ACCOUNT: hal ini adalah opsi beresiko terkecil sebagai pembayaran karena dibuat setelah barang diterima
DOCUMENTARY COLLECTION: penagihan dengan dokumen inkaso, menawarkan pilihan pembayaran beresiko rendah lain bagi para importir karena pembayaran umumnya akan berdampak dalam pertukaran judul dokumen terhadap barang
DOCUMENTARY CREDIT: adalah proses tertulis oleh bank penerbit mengenai petunjuk importir kepada eksportir agar melakukan pembayaran barang dengan kondisi tertentu. Akan tetapi, para importir mensyaratkan fasiltas untuk mengajukan kredit dokumenter
ADVANCE PAYMENT: metode pembayaran dengan resiko tinggi karena pembayaran dilakukan sebelum barang diterima.

4. DELIVERY INSURANCE
Surely your bank have the oceaninc insurance team to assist you processing commerce documentation and insurance efficiently, and also always give you moment security and safety to do international business.
4. ASURANSI PENGIRIMAN
Pastikan bank anda mempunyai tim asuransi kelautan guna membantu Anda memproses dokumentasi perdagangan dan asuransi Anda secara lebih efisien, serta memberikan Anda kenyamanan serta keamanan saat Anda berbisnis secara internasional.

5. WARRANTY DELIVERY
Warranty delivery is appliance good by bank, conducive you take over your goods before document come to you by way of the banking system.
5. GARANSI PENGIRIMAN
Garansi pengiriman adalah alat berguna yang dibuat bank, yang memungkinkan Anda mengambil alih barang Anda sebelum dokumen judul datang melalui sistem perbankan.

6. FINANCE EXPOR AND IMPOR
For your expor impor finance, many options available expor impor finance :.
OWN: you can pay for your goods with your own money when goods come or sight bill have been presented at you.
EXPORTER FINANCE: you can obtain and get finance of your exporter which enable period of credit to you pay for the goods ( just exporter can financed by their own bank). BANK FINANCE: you can arrangement expor impor channel with bank to give the credit facility to close over the empty period when you have to rest when you accept proceed sale or convert exporting finance (point of sale).
RECEIPT TRUST: you can arrangement of your loan where return of goods in general as acceptance the trust caring of bank.
6. KEUANGAN EKSPOR DAN IMPOR
Guna membiayai keuangan impor Anda, sejumlah opsi keuangan impor tersedia bagi Anda :
Keuangan sendiri: Anda dapat membayarkan untuk barang-barang Anda dengan uang Anda sendiri ketika barang datang atau sight bill telah dipresentasikan pada Anda.
Keuangan eksportir: Anda dapat memperoleh keuangan dari eksportir Anda yang membolehkan periode kredit untuk Anda membayar barang-barang (eksportir dapat saja dibiayai oleh bank mereka sendiri). Pembayaran DC aksep/yang ditunda adalah metode yang lazim dimana para eksportir dapat membiayai diri untuk importir.
Keuangan bank: Anda dapat melakukan pengaturan atas saluran impor dengan bank yang akan memberikan fasilitas kredit untuk menutupi periode kosong antara ketika Anda harus beristirahat ketika Anda menerima proceed penjualan atau menukar keuangan ekspor menjadi (point of sale).
Receipt trust: Anda dapat melakukan pengaturan pinjaman impor dimana pengembalian barang secara umum sebagai penerimaan kepercayaan yang menyatakan adanya kepedulian bank atas barang.

Tarif Export Import

I. LETTER OF CREDIT
IMPOR
A. Penerbitan atau Perubahan jumlah/jangka waktu L/C :
Setoran 100 % (tunai) :
Biaya Administrasi		USD. 15
Setoran Jaminan 100 % (Giro/Dep./Tab.) :
Jangka Waktu L/C s/d 1 tahun		0,125 % min USD. 25
Jangka Waktu L/C > 1 tahun		0,25 % min USD. 25
Setoran Jaminan Kurang dari 100 % :
Jangka Waktu L/C s/d 6 bulan		0,25 % min USD. 50
Jangka Waktu L/C > 6 bulan s/d 1 tahun		0,50 % min USD. 50
Jangka Waktu L/C > 1 tahun		1,00 % min USD. 50
A. Perubahan lainnya		USD. 25
B. Komisi Akseptasi/Deferred Payment		1,00 % per tahun min USD. 100
C. Reimbursement / Pembayaran Wesel		USD. 50 a/b Nego Bank atau sesuai syarat L/C
D. Discrepancy Charges		USD. 40 per SR A/b Nego Bank
E. Administrasi PIB
Tanpa L/C Dengan L/C		Rp. 40.000,- Rp. 25.000,-
G. Documentary Collection
Nasabah		0,0625 % min USD. 50 max USD. 500
Bukan Nasabah		0,125 % min USD. 50 max USD. 1,000
H. Penerbitan Shipping Guarantee		USD. 30
EKSPOR
A. Penerusan atau Perubahan L/C
Nasabah		USD. 10
Bukan Nasabah		USD. 30
A. Transferable L/C
Ke Cabang sendiri		USD. 15
Ke Bank Lain		USD. 50
B. Negosiasi WE
Tanpa Grace Period		0,125 % min USD. 25
Grace Period 7 hari		0,30 % min USD. 25
C. Pembatalan L/C
Nasabah		USD. 25
Bukan Nasabah		USD. 30
C. Konfirmasi L/C		0,50 % per 3 bulan min USD. 100
D. Documentary Collection
L/C		0,125 % min USD. 25
Non L/C		0,0625 % min USD. 25 max. USD. 500

II. BANK GARANSI
Penerbitan Bid/Performance/Advanced Payment Bond dll.
RUPIAH
Setoran 100 % (tunai)	Rp. 50.000,-
Setoran Jaminan 100 % (Giro/Dep./Tab.)
Jangka Waktu BG s/d 1 tahun	0,125 % min Rp. 100.000,-
Jangka Waktu BG > 1 tahun	0,25 % min Rp. 100.000,-
Setoran Jaminan kurang dari 100 %	0,25 % per 3 bulan min Rp. 200.000,-
VALAS
Setoran 100 % (tunai)	USD. 15
Setoran Jaminan 100 % (Giro/Dep./Tab.)
Jangka Waktu BG s/d 1 tahun	0,125 % min USD. 25
Jangka Waktu BG > 1 tahun	0,25 % min USD. 25
Setoran Jaminan kurang dari 100 %	0,25 % per 3 bulan min. USD. 50
ATAS DASAR COUNTER GUARANTEE
Tergantung dari risiko negara & bank penerbit (semakin tinggi bank risk dan country risk, akan semakin tinggi tarif yang dikenakan)	0,75 % p.a. s/d 3 % p.a. min USD. 50

III. SKBDN
SKBDN TERBIT
F. Penerbitan atau Perubahan jumlah/jangka waktu SKBDN :
Setoran 100 % (tunai) :
Biaya Administrasi		Rp. 50.000,-
Setoran Jaminan 100 % (Giro/Dep./Tab.)
Jangka waktu SKBDN s/d 1 tahun		0,125 % min Rp. 100.000,-
Jangka waktu SKBDN > 1 tahun		0,25 % min Rp. 100.000,-
Setoran Jaminan Kurang dari 100 % :
Jangka Waktu SKBDN s/d 6 bulan		0,25 % min Rp. 150.000,-
Jangka Waktu SKBDN > 6 bulan s/d 1 tahun		0,50 % min Rp. 150.000,-
Jangka Waktu SKBDN > 1 tahun		1,00 % min Rp. 150.000,-
A. Perubahan lainnya		Rp. 100.000,-
B. Komisi Akseptasi		1,00 % per tahun min Rp. 200.000,-
D. Pembayaran Wesel		Rp. 100.000,- a/b Bank Penarik atau sesuai syarat SKBDN
E. Discrepancy Charges/Fee		Rp. 100.000,- per SR A/b Bank Penarik
F. Inkaso Masuk (Berdokumen)
Nasabah		0,0625 % min Rp. 200.000,- max Rp. 500.000,-
Bukan Nasabah		0,125 % min Rp. 200.000,- max. Rp. 1.000.000,-
SKBDN TERIMA
D. Penerusan atau Perubahan SKBDN		Penerusan	Perubahan
Nasabah		Rp. 75.000,-	Rp. 50.000,-
Bukan Nasabah		Rp. 150.000,-	Rp. 100.000,-
B. Transfer SKBDN
Untuk Cabang Sendiri		Rp. 100.000,-
Diteruskan ke Bank lain		Rp. 200.000,-
E. Negosiasi SKBDN
Tanpa Grace Period		0,125 % min Rp. 200.000,-
Grace Period 7 hari		0,525 % min Rp. 200.000,-
F. Pembatalan SKBDN
Nasabah		Rp. 100.000,-
Bukan Nasabah		Rp. 200.000,-
Konfirmasi SKBDN		0,50 % per 3 bulan min Rp. 250.000,-
F. Inkaso Keluar (Berdokumen)
SKBDN		0,125 % min Rp. 200.000,-
Non SKBDN		0,0625 % min Rp. 200.000,- Max Rp. 1.000.000,-

IV. Out Of Pocket Expenses (OOPE)
A. Telex	Komunikasi Luar Negeri	Komunikasi Dalam Negeri
Short	USD.15	Rp.50.000,-
Full	USD.15	Rp.100.000,-
B. Mail	USD.15	Rp.25.000,-
C. SWIFT
Short	USD.4	Rp.50.000,-
Full	USD.8	Rp.100.000,-
D. Pengiriman Dokumen	EBC NON EBC USD.15 USD.30	Dalam Kota Luar Kota Rp.50.000 Rp.100.000
Catatan : Seluruh biaya pada butir I, II dan III belum termasuk biaya materei dan OOPE (komunikasi). Biaya komunikasi hanya dibebankan untuk komunikasi dengan pihak ketiga. Semua tarif dapat berubah sewaktu-waktu.

source: http://www.bankmandiri.co.id/indonesia/company-info/corporate-banking/export-import.asp

jenis - jenis credit modal di bank

I. LETTER OF CREDIT

IMPOR
A. Penerbitan atau Perubahan jumlah/jangka waktu L/C :
Setoran 100 % (tunai) :
Biaya Administrasi USD. 15
Setoran Jaminan 100 % (Giro/Dep./Tab.) :
Jangka Waktu L/C s/d 1 tahun 0,125 % min USD. 25
Jangka Waktu L/C > 1 tahun 0,25 % min USD. 25
Setoran Jaminan Kurang dari 100 % :
Jangka Waktu L/C s/d 6 bulan 0,25 % min USD. 50
Jangka Waktu L/C > 6 bulan s/d 1 tahun 0,50 % min USD. 50
Jangka Waktu L/C > 1 tahun 1,00 % min USD. 50
A. Perubahan lainnya USD. 25
B. Komisi Akseptasi/Deferred Payment 1,00 % per tahun min USD. 100
C. Reimbursement / Pembayaran Wesel USD. 50 a/b Nego Bank atau sesuai syarat L/C
D. Discrepancy Charges USD. 40 per SR A/b Nego Bank
E. Administrasi PIB
Tanpa L/C
Dengan L/C Rp. 40.000,- Rp. 25.000,-
G. Documentary Collection
Nasabah 0,0625 % min USD. 50 max USD. 500
Bukan Nasabah 0,125 % min USD. 50 max USD. 1,000
H. Penerbitan Shipping Guarantee USD. 30

EKSPOR
A. Penerusan atau Perubahan L/C
Nasabah USD. 10
Bukan Nasabah USD. 30
A. Transferable L/C
Ke Cabang sendiri USD. 15
Ke Bank Lain USD. 50
B. Negosiasi WE
Tanpa Grace Period 0,125 % min USD. 25
Grace Period 7 hari 0,30 % min USD. 25
C. Pembatalan L/C
Nasabah USD. 25
Bukan Nasabah USD. 30
C. Konfirmasi L/C 0,50 % per 3 bulan min USD. 100
D. Documentary Collection
L/C 0,125 % min USD. 25
Non L/C 0,0625 % min USD. 25 max. USD. 500



II. BANK GARANSI
Penerbitan Bid/Performance/Advanced Payment Bond dll.
RUPIAH
Setoran 100 % (tunai) Rp. 50.000,-
Setoran Jaminan 100 % (Giro/Dep./Tab.)
Jangka Waktu BG s/d 1 tahun 0,125 % min Rp. 100.000,-
Jangka Waktu BG > 1 tahun 0,25 % min Rp. 100.000,-
Setoran Jaminan kurang dari 100 % 0,25 % per 3 bulan min Rp. 200.000,-
VALAS
Setoran 100 % (tunai) USD. 15
Setoran Jaminan 100 % (Giro/Dep./Tab.)
Jangka Waktu BG s/d 1 tahun 0,125 % min USD. 25
Jangka Waktu BG > 1 tahun 0,25 % min USD. 25
Setoran Jaminan kurang dari 100 % 0,25 % per 3 bulan min. USD. 50
ATAS DASAR COUNTER GUARANTEE
Tergantung dari risiko negara & bank penerbit (semakin tinggi bank risk dan country risk, akan semakin tinggi tarif yang dikenakan) 0,75 % p.a. s/d 3 % p.a. min USD. 50



III. SKBDN
SKBDN TERBIT
F. Penerbitan atau Perubahan jumlah/jangka waktu SKBDN :
Setoran 100 % (tunai) :
Biaya Administrasi Rp. 50.000,-
Setoran Jaminan 100 % (Giro/Dep./Tab.)
Jangka waktu SKBDN s/d 1 tahun 0,125 % min Rp. 100.000,-
Jangka waktu SKBDN > 1 tahun 0,25 % min Rp. 100.000,-
Setoran Jaminan Kurang dari 100 % :
Jangka Waktu SKBDN s/d 6 bulan 0,25 % min Rp. 150.000,-
Jangka Waktu SKBDN > 6 bulan s/d 1 tahun 0,50 % min Rp. 150.000,-
Jangka Waktu SKBDN > 1 tahun 1,00 % min Rp. 150.000,-
A. Perubahan lainnya Rp. 100.000,-
B. Komisi Akseptasi 1,00 % per tahun min Rp. 200.000,-
D. Pembayaran Wesel Rp. 100.000,- a/b Bank Penarik atau sesuai syarat SKBDN
E. Discrepancy Charges/Fee Rp. 100.000,- per SR A/b Bank Penarik
F. Inkaso Masuk (Berdokumen)
Nasabah 0,0625 % min Rp. 200.000,- max Rp. 500.000,-
Bukan Nasabah 0,125 % min Rp. 200.000,- max. Rp. 1.000.000,-

SKBDN TERIMA
D. Penerusan atau Perubahan SKBDN Penerusan Perubahan
Nasabah Rp. 75.000,- Rp. 50.000,-
Bukan Nasabah Rp. 150.000,- Rp. 100.000,-
B. Transfer SKBDN
Untuk Cabang Sendiri Rp. 100.000,-
Diteruskan ke Bank lain Rp. 200.000,-
E. Negosiasi SKBDN
Tanpa Grace Period 0,125 % min Rp. 200.000,-
Grace Period 7 hari 0,525 % min Rp. 200.000,-
F. Pembatalan SKBDN
Nasabah Rp. 100.000,-
Bukan Nasabah Rp. 200.000,-
Konfirmasi SKBDN 0,50 % per 3 bulan min
Rp. 250.000,-
F. Inkaso Keluar (Berdokumen)
SKBDN 0,125 % min Rp. 200.000,-
Non SKBDN 0,0625 % min Rp. 200.000,- Max Rp. 1.000.000,-



IV. Out Of Pocket Expenses (OOPE)
A. Telex Komunikasi Luar Negeri Komunikasi Dalam Negeri
Short USD.15 Rp.50.000,-
Full USD.15 Rp.100.000,-
B. Mail USD.15 Rp.25.000,-
C. SWIFT
Short USD.4 Rp.50.000,-
Full USD.8 Rp.100.000,-
D. Pengiriman Dokumen EBC NON EBC
USD.15 USD.30
Dalam Kota Luar Kota
Rp.50.000 Rp.100.000

Catatan :
Seluruh biaya pada butir I, II dan III belum termasuk biaya materei dan
OOPE (komunikasi).
Biaya komunikasi hanya dibebankan untuk komunikasi dengan pihak ketiga.
Semua tarif dapat berubah sewaktu-waktu.

Source : Bank Mandiri

EXPORT-IMPORT BANK LOAN AND SECURITY AGREEMENT (SAMPLE)

SOURCE : http://contracts.onecle.com/seachange/svbank.loan.2000.07.25.shtml
SAMPLE EXPORT-IMPORT BANK LOAN AND SECURITY AGREEMENT(FOR EDUCATION ONLY)

This EXPORT-IMPORT BANK LOAN AND SECURITY AGREEMENT (the "Exim Agreement")
is entered into as of July 25, 2000, by and between SILICON VALLEY BANK, a
California-chartered bank ("Bank"), with its principal place of business at
3003 Tasman Drive, Santa Clara, CA 95054 and with a loan production office
located at Wellesley Office Park, 40 William Street, Suite 350, Wellesley, MA
02481, doing business under the name "Silicon Valley East" ("Bank") and
SEACHANGE INTERNATIONAL, INC., a Delaware corporation with its chief executive
office located at 124 Acton Street, Maynard, Massachusetts 01754 (the
"Borrower").

RECITALS

A. Borrower and Bank are parties to that certain Loan and Security
Agreement dated November 10, 1998 (as amended to date, the "Domestic
Agreement"), together with related documents executed in conjunction therewith.

B. Borrower and Bank desire in this Exim Agreement to set forth their
agreement with respect to a working capital facility to be guaranteed by the
Export-Import Bank of the United States (the "Exim Bank").

AGREEMENT

The Parties agree as follows:

1. DEFINITIONS AND CONSTRUCTION
----------------------------

1.1 Definitions. Except as otherwise defined, terms that are capitalized
-----------
in this Exim Agreement shall have the meanings assigned in the Domestic Loan
Documents. As used in this Exim Agreement, the following terms shall have the
following definitions:

"Accounts" means all presently existing and hereafter arising
accounts, contract rights, and all other forms of obligations owing to
Borrower arising out of the sale or lease of goods (including, without
limitation, the licensing of software and other technology) or the
rendering of services by Borrower, whether or not earned by performance,
and any and all credit insurance, guaranties, and other security therefor,
as well as all merchandise returned to or reclaimed by Borrower and
Borrower's books relating to any of the foregoing.

"Advances" means any loans or other extensions of credit hereunder.

"Borrower Agreement" means the Export-Import Bank of the United States
Working Capital Guarantee Program Borrower Agreement between Borrower and
Bank.

"Borrowing Base" means an amount equal to (i) ninety percent (90%) of
Exim Eligible Foreign Accounts which Exim Eligible Foreign Accounts are
billed and collected by the Borrower in the United States, plus (ii) the
----
lesser of (A) Seven Hundred Fifty Thousand Dollars ($750,000.00) or (B)
fifty (50%) percent of Export-Related Inventory Value of Eligible Export-
Related Inventory which is determined acceptable by the Bank.

"Collateral" is the property described on Exhibit 4.
---------

"Domestic Agreement" has the meaning set forth in recital paragraph A.

"Domestic Loan Documents" means the Domestic Agreement and all
instruments, documents, and agreements executed in connection with the
Domestic Agreement.



"Eligible Export-Related Inventory" shall have the meaning set forth for
such term in the Borrower Agreement.

"Exim Bank" means Export-Import Bank of the United States.

"Exim Bank Expenses" means all: reasonable costs or expenses (including
reasonable attorneys' fees and expenses) incurred in connection with the
preparation, negotiation, and administration of the Exim Loan Documents,
including any costs incurred in relation to opposing or seeking to obtain relief
from any stay or restructuring order prohibiting Bank from exercising its rights
as a secured creditor, foreclosing upon or disposing of Collateral, or such
related matters; and Bank's reasonable attorneys' fees and expenses incurred in
enforcing or defending the Exim Loan Documents, whether or not suit is brought,
unless a final court of competent jurisdiction finds the Bank acted with gross
negligence or willful misconduct.

"Exim Committed Line" means Three Million Dollars ($3,000,000.00).

"Exim Eligible Foreign Accounts" means those Accounts payable in United
States Dollars that arise in the ordinary course of Borrower's business and (i)
with respect to which the account debtor is not a resident of the United States;
(ii) that have been validly assigned or pledged to Bank in a manner satisfactory
to the Bank giving the Bank a first priority perfected security interest, or its
equivalent, in such Accounts, (iii) comply with all of Borrower's
representations and warranties to Bank, and (iv) that either (A) the Bank
approves on a case by case basis or (B) are supported by letter(s) of credit
acceptable to Bank; standards of eligibility may be fixed revised from time to
time by Bank in Bank's reasonable judgment and upon notification thereof to the
Borrower in accordance with the provisions hereof. Exim Eligible Foreign
Accounts shall not include the following:

(a) Accounts with a term in excess of one hundred twenty (120) days;

(b) Accounts that the account debtor has failed to pay within sixty
(60) calendar days of the original due date of the invoice unless such
accounts are insured through Exim Bank export credit insurance for
comprehensive commercial and political risk, or through Exim Bank approved
private insurers for comparable coverage, in which case ninety (90)
calendar days shall apply;

(c) Account with respect to an account debtor, twenty five percent
(25%) or more of whose Accounts the account debtor has failed to pay within
one hundred twenty (120) days of the original date of invoice;

(d) Accounts evidenced by a letter of credit until the date of
shipment of the items covered by the subject letter of credit;

(e) Accounts with respect to which an invoice has not been sent;

(f) Accounts with respect to which the account debtor is an
Affiliate, officer or director of Borrower;

(g) Accounts with respect to which the account debtor is located in a
country in which Exim Bank is legally prohibited from doing business as
designated in the Country Limitation Schedule (as such term is defined in
the Borrower Agreement);

(h) Accounts with respect to which the account debtor is located in a
country in which Exim Bank coverage is not available for commercial
reasons;

-2-


(i) Accounts with respect to which Borrower is liable to the account
debtor for goods sold or services rendered by the account debtor to
Borrower, but only to the extent of Borrower's liability to such account
debtor.

(j) Accounts with respect to which the account debtor has disputed
liability or makes any claim with respect thereto (but only to the extent
of the amount subject to such dispute or claim), or is subject to any
Insolvency Proceeding, or becomes insolvent, or goes out of business;

(k) Accounts with respect to an account debtor, including
Subsidiaries and Affiliates, whose total obligations to Borrower exceed
twenty-five percent (25%) of the aggregate dollar amount of all Accounts,
only to the extent such obligations exceed such percentage, except as
approved in writing by Bank;

(l) Accounts generated by the sale of products purchased for military
purposes or that are due and payable from a military Buyer;

(m) Accounts, if any, generated by sales of Inventory which
constitutes defense articles or defense services;

(n) Accounts payable in currency other than Dollars, except as may be
approved in writing by the Bank and the Exim Bank;

(o) Accounts which are due and owing and the collection of which must
be made outside the United States;

(p) Accounts the collection of which Bank or Exim Bank determines in
its reasonable judgment to be doubtful; and

(q) Any account which is not an "Eligible Export-Related Accounts
Receivable", as such term is defined in the Borrower Agreement.

"Exim Guarantee" means that certain Master Guarantee Agreement or other
agreement, as amended from time to time, the terms of which are incorporated by
reference into this Exim Agreement, pursuant to which Exim Bank guarantees
Borrower's obligations under this Exim Agreement.

"Exim Loan Documents" means, collectively, this Exim Agreement, the
Domestic Loan Documents, any note or notes executed by Borrower, and any other
agreement entered into between Borrower and Bank in connection with this Exim
Agreement, all as amended or extended from time to time.

"Exim Maturity Date" means the earliest of (i) the Revolving Maturity Date
under the Domestic Loan Documents, or (ii) March 31, 2001.

"Export-Related Inventory Value" shall have the meaning set forth in the
Borrower Agreement.

"Inventory" shall mean "Export-Related Inventory" as such term is defined
in the Borrower Agreement.

"Note" is defined in Section 2.1.1.

"Obligations" shall mean all debts, principal, interest, Exim Bank
Expenses arising under the Exim Loan Documents and other amounts Borrower owes
Bank now or later, and including interest

-3-


accruing after Insolvency Proceedings begin and debts, liabilities, or
obligations of Borrower assigned to Bank.

"Payment Date" means the first (1/st/) calendar day of each month
commencing with the first such date after the date of this Exim Agreement
and ending on the Exim Maturity Date.

"Responsible Officer" means each of the Chief Executive Officer,
Chief Financial Officer and Controller of the Borrower.

2. LOAN AND TERMS OF PAYMENT
-------------------------

2.1.1 Revolving Advances. Subject to the terms and conditions of this Exim
------------------
Agreement, Bank agrees to make Advances to Borrower in an amount not to exceed
(i) the Exim Committed Line or the Borrowing Base, whichever is less, minus (ii)
the aggregate outstanding Advances hereunder, as determined by the Borrowing
Base Certificate to be delivered to the Bank. Notwithstanding the foregoing, the
aggregate of (i) the Obligations hereunder, and (ii) all Obligations under the
Domestic Agreement, and all other indebtedness owed by Borrower to Bank, shall
not exceed the amount of Twelve Million Five Hundred Thousand Dollars
($12,500,000.00).

To evidence the Advances, Borrower shall execute and deliver to Bank on the
date hereof a promissory note (the "Note") in substantially the form attached
hereto as Exhibit B.
---------

Whenever Borrower desires an Advance, Borrower will notify Bank by
facsimile transmission or telephone no later than 3:00 pm. Eastern time, on the
Business Day that the Advance is to be made. Each such notification shall be
promptly confirmed by a Payment/Advance Form in substantially the form of
Exhibit C hereto together with any additional documentation required under the
---------
Borrower Agreement, including without limitation, as set forth in Section 2.03
of the Borrower Agreement. In addition to the procedure set forth in the
preceding sentence, Bank is authorized to make Advances under this Exim
Agreement, based upon instructions received from a Responsible Officer or
without instructions if in Bank's discretion such Advances are necessary to meet
Obligations which have become due and remain unpaid. Bank shall be entitled to
rely on any telephonic notice given by a person who Bank reasonably believes to
be a Responsible Officer or a designee (as designated in writing by a
Responsible Officer) thereof, and Borrower shall indemnify and hold Bank
harmless for any damages or loss suffered by Bank as a result of such reliance.
Bank will credit the amount of Advances made under this Section 2.1.1 to
Borrower's deposit account. Amounts borrowed pursuant to this Section 2.1.1 may
be repaid at any time and re-borrowed at any time during the term of this Exim
Agreement so long as no Event of Default has occurred and is continuing.

2.2 Overadvances. If, at any time or for any reason, the following occurs
------------
(an "Overadvance"): (i) the amount of Obligations pursuant to this Exim
Agreement owed by Borrower to Bank pursuant to Section 2.1 of this Exim
Agreement is greater than: (a) the lesser of the Borrowing Base or the Exim
Committed Line, minus (b) all outstanding Advances, or (ii) the Obligations
----- --
hereunder, under the Domestic Agreement and any other indebtedness owed to the
Bank shall, in the aggregate, exceed the amount of Twelve Million Five Hundred
Thousand Dollars ($12,500,000.00), Borrower shall immediately pay to Bank, in
cash, the amount of such excess. In addition, if at any time or for any reason,
the aggregate amount of Advances made as a result of Eligible Export-Related
Inventory (as determined by the Borrowing Base Certificate) exceeds the maximum
allowable under Section 2.07(c) of the Borrower Agreement, the Borrower shall
within five (5) calendar days either (i) furnish additional collateral
satisfactory to the Bank which shall not consist of inventory (as such term is
defined in the UCC), or (ii) pay to Bank, in cash, the amount of such excess

2.3 Interest Rates, Payments, and Calculations.
------------------------------------------

-4-


(a) Interest Rate. Except as set forth in Section 2.3(b), or as
-------------
specified to the contrary in any Loan Document, any Advances under this Exim
Agreement shall bear interest, on the average daily balance, at a rate equal to
the Prime Rate per annum.

(b) Default Rate. All Obligations shall bear interest, from and after
------------
the occurrence of an Event of Default, at a rate equal to the lesser of (i) five
(5%) percentage points above the rate that applied immediately prior to the
occurrence of the Event of Default, and (ii) the maximum interest rate allowed
by applicable law.

(c) Payments. Interest hereunder shall be due and payable on each
--------
Payment Date. Bank shall, at its option, charge such interest, all Exim Bank
Expenses, and all Periodic Payments against Borrower's deposit account or
against the Exim Committed Line, in which case those amounts shall thereafter
accrue interest at the rate then applicable hereunder. Unless sooner demanded,
all Advances made hereunder shall be due and payable in full on the Exim
Maturity Date.

(d) Computation. In the event the Prime Rate is changed from time
------------
to time hereafter, the applicable rate of interest hereunder shall be increased
or decreased contemporaneously with such change by an amount equal to such
change in the Prime Rate. All interest chargeable under the Exim Loan Documents
shall be computed on the basis of a three hundred sixty (360) day year for the
actual number of days elapsed.

2.4 Crediting Payments. The receipt by Bank of any wire transfer of funds,
------------------
check, or other item of payment shall be immediately applied to conditionally
reduce Obligations, but shall not be considered a payment on account unless such
wire transfer is of immediately available federal funds and is made to the
appropriate deposit account of Bank or unless and until such check or other item
of payment is honored when presented for payment. Notwithstanding anything to
the contrary contained herein, any payment (other than a wire transfer of
immediately available funds) received by Bank after 12:00 p.m. (noon) Eastern
time shall be deemed to have been received by Bank as of the opening of business
on the immediately following Business Day.

2.5 Fees. Borrower shall pay to Bank the following fees:
----

(a) Financial Examination and Appraisal Fees. Bank's customary fees
----------------------------------------
and out-of-pocket expenses for Bank's audits of Borrower's Accounts and for
each appraisal of the Collateral and financial analysis and examination of
Borrower performed from time to time by Bank or its agents;

(b) Exim Fee. A facility fee equal to Thirty Thousand Dollars
--------
($30,000.00), which fee shall be due and fully earned upon the Closing
Date; and

(c) Exim Bank Expenses. On the Closing Date, Exim Bank Expenses
------------------
incurred through the Closing Date and, after the Closing Date, all Exim
Bank Expenses as they become due, if any.

2.6 Additional Costs. In case any law, regulation, treaty or official
----------------
directive or the interpretation or application thereof by any court or any
governmental authority charged with the administration thereof or the compliance
with any guideline or request of any central bank or other governmental
authority (whether or not having the force of law):

(a) subjects Bank to any tax with respect to payments of principal or
interest or any other amounts payable hereunder by Borrower or otherwise
with respect to the transactions contemplated hereby (except for taxes on
the overall net income of Bank imposed by the United States of America or
any political subdivision thereof):

(b) imposes, modifies or deems applicable any deposit insurance,
reserve, special deposit or similar requirement against assets held by, or
deposits in or for the account of, or loans by, Bank; or

-5-


(c) imposes upon Bank any other condition with respect to its
performance under this Agreement,

and the result of any of the foregoing is to increase the cost to Bank, reduce
the income receivable by Bank or impose any expense upon Bank with respect to
any loans, Bank shall promptly notify Borrower thereof. Borrower agrees to pay
to Bank the amount of such increase in cost, reduction in income or additional
expense as and when such cost, reduction or expense is incurred or determined,
upon presentation by Bank of a statement of the amount and setting forth Bank's
calculation thereof, all in reasonable detail which statement shall be deemed
true and correct absent manifest error.

2.7 Term. This Exim Agreement shall become effective once duly executed
----
and authorized by Borrower and Bank and shall continue in full force and effect
for a term ending on the Exim Maturity Date, on which date all Obligations shall
become immediately due and payable. Notwithstanding the foregoing, Bank shall
have the right to terminate this Exim Agreement immediately and without notice
upon the occurrence of an Event of Default. Notwithstanding any termination of
this Exim Agreement, all of Bank's security interest in all of the Collateral
and all of the terms and provisions of this Exim Agreement shall continue in
full force and effect until all Obligations have been paid and performed in
full, and no termination shall impair any right or remedy of Bank, nor shall any
such termination relieve Borrower of any Obligation to Bank until all of the
Obligations have been paid and performed in full.

2.8 Use of Proceeds. Borrower will use the proceeds of Advances only for
---------------
the purposes specified in the Borrower Agreement. Borrower shall not use the
proceeds of the Advances for any purpose prohibited by the Borrower Agreement.

3. CONDITIONS OF LOANS
-------------------

3.1 Conditions Precedent to all Advances. The obligation of Bank to make
------------------------------------
each Advance, including the initial Advance, is subject to the following
conditions:

(a) timely receipt by Bank of the Payment/Advance Form as provided in
Section 2.1;

(b) timely receipt by Bank of a Borrowing Base Certificate as defined
in the Borrower Agreement;

(c) the Exim Guarantee shall be in full force and effect;

(d) receipt by the Bank of a valid purchase order and such other
documentation as the Bank may require with respect to any Advance based
upon Inventory;

(e) if required by the Bank in its reasonable discretion, a
satisfactory appraisal of Inventory with respect to any Advances to be made
based in whole or in part upon the value of the Inventory; and

(f) except as otherwise disclosed to the Bank, the representations
and warranties contained in Section 5 hereof shall be true and accurate in
all material respects on and as of the date of such Payment/Advance Form
and on the effective date of each Advance as though made at and as of each
such date (except to the extent they relate specifically to an earlier
date, in which case such representations and warranties shall continue to
have been true and accurate as of such date), and no potential Event of
Default or Event of Default shall have occurred and be continuing, or would
result from such Advance.

The making of each Advance shall be deemed to be a representation and
warranty by Borrower on the date of such Advance as to the accuracy of the
facts referred to in this Section 3.1.

-6-


4. CREATION OF SECURITY INTEREST
-----------------------------

4.1 Grant of Security Interest. Borrower grants and pledges to Bank a
--------------------------
continuing security interest in all presently existing and hereafter acquired
or arising Collateral in order to secure prompt payment of any and all
Obligations (which Obligations shall include, without limitation, all
obligations of the Borrower to the Bank under the Domestic Loan Documents) and
in order to secure prompt performance by Borrower of each of its covenants and
duties under the Exim Loan Documents and Domestic Loan Documents. Except as set
forth in the Schedule, such security interest constitutes a valid, first
priority security interest in the presently existing Collateral, and will
constitute a valid, first priority security interest in Collateral acquired
after the date hereof. Borrower acknowledges that Bank may place a "hold" on any
Deposit Account pledged as Collateral to secure the Obligations. Notwithstanding
termination of this Agreement Banks Lien on the Collateral shall remain in
effect for so long as any Obligations are outstanding. Upon termination of this
Agreement and satisfaction in full of the Obligations, Bank shall execute all
documents and take all actions reasonably requested by Borrower in evidence
thereof. Notwithstanding the foregoing, it is expressly acknowledged and agreed
that the security interest created in this Exim Agreement in all of the
Collateral (with the exception of both Exim Eligible Foreign Accounts and
Eligible Export-Related Inventory but only to the extent any Advances are
actually made by the Bank to the Borrower based upon such Exim Eligible Foreign
Accounts and Eligible Export-Related Inventory), is subject to and subordinate
to the security interest granted to the Bank in the Domestic Agreement and the
Permitted Liens (as defined in the Domestic Agreement or the Borrower Agreement)
with respect to the Collateral.

4.2 Delivery of Additional Documentation Required. Borrower shall from
---------------------------------------------
time to time execute and deliver to Bank, at the request of Bank, all financing
statements and other documents that Bank may reasonably request, in form
satisfactory to Bank, to perfect and continue perfected Bank's security
interests in the Collateral and in order to fully consummate all of the
transactions contemplated under the Exim Loan Documents.

4.3 Power of Attorney. Effective only upon the occurrence and during the
----------------
continuance of an Event of Default Borrower hereby irrevocably appoints Bank
(and any of Bank's designated officers or employees) as Borrower's true and
lawful attorney, with power to: (a) send requests for verification of Accounts;
(b) endorse Borrower's name on any checks or other forms of payment or security
that may come into Bank's possession; (c) sign the name of Borrower on any of
the documents described in Section 4.2 (regardless of whether an Event of
Default has occurred); (d) sign Borrower's name on any invoice or bill of lading
relating to any Account, drafts against account debtors, schedules and
assignments of Accounts, verifications of Accounts, and notices to account
debtors; (e) make, settle, and adjust all claims under and decisions with
respect to Borrower's policies of insurance; and (f) settle and adjust disputes
and claims respecting the accounts directly with account debtors, for amounts
and upon terms which Bank determines to be reasonable. The appointment of Bank
as Borrower's attorney-in-fact, and each of Bank's rights and powers, being
coupled with an interest, is irrevocable until all of the Obligations have been
fully repaid and Bank's obligation to provide Advances hereunder is terminated.

4.4 Right to Inspect. Each of Bank and Exim Bank (through any of their
----------------
respective officers, employees, or agents) shall have the right, upon reasonable
prior notice, from time to time during Borrower's usual business hours, without
causing any disruptions of Borrower's operations (prior to an Event of Default)
to inspect Borrower's Books, facilities and activities, and to check, test, and
appraise the Collateral in order to verify Borrower's financial condition or the
amount, condition of, or any other matter relating to, the Collateral. Bank
shall conduct annual accounts receivable audits, the results of which audits
shall be satisfactory to Bank. Borrower will cause its officers and employees to
give their full cooperation and assistance in connection therewith.

5. REPRESENTATIONS AND WARRANTIES
------------------------------

Borrower represents, warrants and covenants as follows:

5.1 Domestic Loan Documents. The representations and warranties contained
-----------------------
in the Domestic Loan Documents, which are incorporated by reference into this
Exim Agreement, are true and correct as of the date hereof, except as set
forth on Exhibit D attached hereto.
---------

-7-


6. AFFIRMATIVE COVENANTS
---------------------

Borrower covenants and agrees that, until payment in full of the
Obligations, each Borrower shall do all of the following:

6.1 Domestic Loan Documents. Borrower shall comply in all respects with
-----------------------
the terms and provisions of the Domestic Loan Documents, which terms and
provisions are incorporated into this Exim Agreement and which shall include,
without limitation, compliance with the financial reporting requirements and the
financial covenants set forth in Article 6 of the Domestic Agreement. Ln
addition, the Borrower shall deliver to the Bank within twenty (20) days of the
end of each month (i) a Borrowing Base Certificate, (ii) a schedule of Inventory
for the preceding month, and (ii) an aged listing of accounts receivable, which
shall include all Accounts whether domestic or foreign.

6.2 Terms of Sale. Borrower shall cause all sales of products upon which
-------------
Advances are based to be on open account to creditworthy buyers that have been
preapproved in writing by Bank and Exim Bank.

6.3 Borrower Agreement. Borrower shall comply with all of the terms of
------------------
the Borrower Agreement, including without limitation, the delivery of any and
all notices required pursuant to Sections 2.11 and/or 2.18 of the Borrower
Agreement. In the event of any conflict or inconsistency between any provision
contained in the Borrower Agreement with any provision contained in this Exim
Agreement, the more strict provision with respect to the Borrower, as determined
by the Bank shall control.

6.4 Notice in Event of Filing of Action for Debtor's Relief. Borrower
-------------------------------------------------------
shall notify Bank in writing within five (5) days of the occurrence of any of
the following: (1) Borrower begins or consents in any manner to any proceeding
or arrangement for its liquidation in whole or in part or to any other
proceeding or arrangement whereby any of its assets are subject generally to the
payment of its liabilities or whereby any receiver, trustee, liquidator or the
like is appointed for it or any substantial part of its assets (including
without limitation the filing by Borrower of a petition for appointment as
debtor-in-possession under Title 11 of the U.S. Code); (2) Borrower fails to
obtain the dismissal or stay on appeal within thirty (30) calendar days of the
commencement of any proceeding arrangement referred to in (1) above; (3)
Borrower begins any other procedure for the relief of financially distressed or
insolvent debtors, or such procedure has been commenced against it, whether
voluntarily or involuntarily, and such procedure has not been effectively
terminated, dismissed or stayed within thirty (30) calendar days after the
commencement thereof, or (4) Borrower begins any procedure for its dissolution,
or a procedure therefor has been commenced against it.

6.5 Payment in Dollars. Borrower shall require payment in United States
------------------
Dollars for the products, unless the Exim Bank otherwise agrees in writing
hereafter.

6.6 Inventory Audits. Bank shall have the right to conduct audits of the
----------------
Borrower's Inventory at Borrower's expense.

6.7 Audits. Bank shall have the right from time to time hereafter to
------
audit Borrower's Accounts at Borrower's expense, provided that such audits will
be conducted no more often than every six (6) months unless an Event of Default
has occurred and is continuing.

6.8 Further Assurances. At any time and from time to time Borrower shall
------------------
(i) execute and deliver such further instruments, (ii) take such further action
as may reasonably be requested by Bank, and (iii) deliver such additional
information, reports, contracts, invoices and other data concerning the
Collateral as may reasonably be requested by Bank, all of the foregoing in
furtherance of the purposes of this Exim Agreement.

7. NEGATIVE COVENANTS
------------------

Borrower covenants and agrees that, so long as any Advance hereunder shall
be available and until payment in full of the outstanding Obligations or for so
long as Bank may have any commitment to make any Advances, Borrower will not do
any of the following:

-8-


7.1 Domestic Loan Documents. Violate or otherwise fail to comply with any
-----------------------
provisions of the Domestic Loan Documents, which provisions are incorporated
into this Exim Agreement.

7.2 Loans to Shareholders or Affiliates. Without Exim Bank's prior
-----------------------------------
written consent, make any loans to any shareholder or entity affiliated with
Borrower. As used in this Section 7.2, the term "loan" does not include salary,
reasonable rent paid to an affiliated entity owned by the shareholders, or to
other expenses incurred in the ordinary course of Borrower's business.

7.3 Borrower Agreement. Violate or otherwise fail to comply with any
------------------
provision of the Borrower Agreement, including without limitation the negative
covenants set forth in Section 2.15.

7.4 Exim Guarantee. Take any action, or permit any action to be taken,
--------------
that causes or, with the passage of time, could reasonably be expected to cause,
the Exim Guarantee to cease to be in full force and effect.

8. EVENTS OF DEFAULT
-----------------

Any one or more of the following events shall constitute an Event of
Default by Borrower under this Exim Agreement:

8.1 Payment Default. If Borrower fails to pay, when due, any of the
---------------
Obligations.

8.2 Covenant Default; Cross Default. If Borrower fails or neglects to
-------------------------------
perform, keep, or observe any material term, provision, condition, covenant, or
agreement contained in this Exim Agreement, in any of the Domestic Loan
Documents, the Borrower Agreement, or the Exim Loan Documents, or an Event of
Default occurs under any of the Domestic Loan Documents or the Borrower
Agreement and as to any default under such other term, provision, condition,
covenant or agreement that can be cured, has failed to cure such default within
twenty (20) days after the occurrence thereof; provided, however, that if the
default cannot by its nature be cured within the twenty (20) day period or
cannot after diligent attempts by Borrower be cured within such twenty (20) day
period, and such default is likely to be cured within a reasonable time, then
Borrower shall have an additional reasonable period (which shall not in any case
exceed thirty (30) days) to attempt to cure such default, and within such
reasonable time period the failure to have cured such default shall not be
deemed an Event of Default (provided that no Advances will be required to be
made during such cure period); or

8.3 Exim Guarantee. If the Exim Guarantee ceases for any reason to be in
--------------
full force and effect, or if the Exim Bank declares the Exim Guarantee void or
revokes or purports to revoke any obligations under the Exim Guarantee.

9. BANK'S RIGHTS AND REMEDIES
--------------------------

9.1 Rights and Remedies. Upon the occurrence and during the continuance of
-------------------
an Event of Default, Bank may, at its election, without notice of its election
and without demand, do any one or more of the following, in accordance with
applicable law, all of which are authorized by the Borrower:

(a) Declare all Obligations, whether evidenced by this Exim
Agreement, the Domestic Loan Documents, or by any of the other Exim
Loan Documents, or otherwise, immediately due and payable (provided that
upon the occurrence of an Event of Default described in Section 8.5 of the
Domestic Agreement, all Obligations shall become immediately due and
payable without any action by Bank);

(b) Cease advancing money or extending credit to or for the benefit
of Borrower under this Exim Agreement or under any other agreement between
Borrower and Bank;

(c) Settle or adjust disputes and claims directly with account
debtors for amounts, upon terms and in whatever order that Bank reasonably
considers advisable;

(d) Notify customers of Borrower or other third parties to pay
amounts owing to Borrower directly to the Bank;

-9-


(e) Without notice to or demand upon Borrower, make such payments and
do such acts as Bank considers necessary or reasonable to protect its
security interest in the Collateral. Borrower agrees to assemble the
Collateral if Bank so requires, and to make the Collateral available to
Bank as Bank may designate. Borrower authorizes Bank to enter the premises
where the Collateral is located, to take and maintain possession of the
Collateral, or any part of it, and to pay, purchase, contest, or compromise
any encumbrance, charge, or lien which in Bank's determination appears to
be prior or superior to its security interest and to pay all expenses
incurred in connection therewith. With respect to any of Borrower's
premises, Borrower hereby grants Bank a license to enter such premises and
to occupy the same, without charge, in order to exercise any of Bank's
rights or remedies provided herein, at law, in equity, or otherwise;

(f) With notice to the Borrower, set off and apply to the Obligations
any and all (i) balances and deposits of Borrower held by Bank, or (ii)
indebtedness at any time owing to or for the credit or the account of
Borrower held by Bank;

(g) Ship, reclaim, recover, store, finish, maintain, repair, prepare
for sale, advertise for sale, and sell (in the manner provided far herein)
the Collateral. Bank is hereby granted a non-exclusive, royalty-free
license or other right, solely pursuant to the provisions of this Section
9.1, to use, without charge, Borrower's labels, patents, copyrights, mask
works, rights of use of any name, trade secrets, trade names, trademarks,
service marks, and advertising matter, or any property of a similar nature,
as it pertains to the Collateral, in completing production of, advertising
for sale, and selling any Collateral and, to the extent required for Bank's
exercise of its rights under this Section 9.1, Borrower's rights under all
licenses and all franchise agreements shall inure to Bank's benefit;

(h) Sell the Collateral in a commercially reasonable manner at either
a public or private sale, or both, by way of one or more contracts or
transactions, for cash or on terms, in such manner and at such places
(including Borrower's premises) as Bank determines is commercially
reasonable, and apply the proceeds thereof to the Obligations in whatever
manner or order it deems appropriate; and

(i) Bank may credit bid and purchase at any public sale, or at any
private sale permitted by law.

Any deficiency that exists after disposition of the Collateral as provided
above will be paid immediately by Borrower.

9.2 Exim Direction. Upon the occurrence of an Event of Default, Exim Bank
--------------
shall have a right to: (i) direct Bank to exercise the remedies specified in
Section 9.1 and (ii) request that Bank accelerate the maturity of any other
loans to Borrower as to which Bank has a right to accelerate.

9.3 Exim Notification. Bank shall have the right to immediately notify
-----------------
Exim Bank in writing if it has knowledge of the occurrence of any of the
following events: (1) any failure to pay any amount due under this Exim
Agreement or the Note; (2) the Borrowing Base is less than the sum of
outstanding Advances hereunder; (3) any failure to pay when due any amount
payable to Bank by the Borrower under any loan(s) extended by Bank to Borrower;
(4) the filing of an action for debtor's relief by, against, or on behalf of
Borrower; or (5) any threatened or pending material litigation against Borrower,
or any material dispute involving Borrower.

In the event that it sends such a notification to Exim Bank, Bank shall
have the right to thereafter send Exim Bank a written report on the status of
the events covered by said notification on each Business Day which occurs every
thirty (30) calendar days after the date of said notification, until such time
as Bank files a claim with Exim Bank or said default or other events have been
cured. Bank shall not have any obligation to make any Advances following said
notification to Exim Bank, unless Exim Bank gives its written approval thereto.
If directed to do so by Exim Bank, Bank shall have a right promptly to exercise
any rights it may have against borrower to demand the immediate repayment of all
amounts outstanding under the Exim Loan Documents.

-10-


9.4 Remedies Cumulative. Bank's rights and remedies under this Exim
-------------------
Agreement, the Exim Loan Documents, the Domestic Loan Documents and all other
agreements shall be cumulative. Bank shall have all other rights and remedies
not inconsistent herewith as provided under the Code, by law, or in equity. No
exercise by Bank of one right or remedy shall be deemed an election, and no
waiver by Bank of any Event of Default on Borrower's part shall be deemed a
continuing waiver. No delay by Bank shall constitute a waiver, election, or
acquiescence by it. No waiver by Bank shall be effective unless made in a
written document signed on behalf of Bank and then shall be effective only in
the specific instance and for the specific purpose for which it was given.

9.5 Power of Attorney. Effective only upon the occurrence and during the
-----------------
continuance of an Event of Default, Borrower hereby irrevocably appoints Bank
(and any of Bank's designated officers, or employees) as Borrower's true and
lawful attorney to: (a) send requests for verification of Accounts or notify
account debtors of Bank's security interest in the Accounts; (b) endorse
Borrower's name on any checks or other forms of payment or security that may
come into Bank's possession; (c) sign Borrower's name on any invoice or bill of
lading relating to any Account, drafts against account debtors, schedules and
assignments of Accounts, verifications of Accounts, and notices to account
debtors; (d) make, settle, and adjust all claims under and decisions with
respect to Borrower's policies of insurance; and (e) settle and adjust disputes
and claims respecting the accounts directly with account debtors, for amounts
and upon terms which Bank determines to be reasonable; and (f) to file, in its
sole discretion, one or more financing or continuation statements and amendments
thereto, relative to any of the Collateral without the signature of Borrower
where permitted by law provided Bank may exercise such power of attorney to sign
the name of Borrower on any of the documents described in Section 4.2 regardless
of whether an Event of Default has occurred. The appointment of Bank as
Borrower's attorney in fact, and each and every one of Bank's rights and powers,
being coupled with an interest, is irrevocable until all of the Obligations have
been fully repaid and performed and Bank's obligation to provide advances
hereunder is terminated.

9.6 Accounts Collection. Upon the occurrence and during the continuance of
-------------------
an Event of Default, Bank may notify any Person owing funds to Borrower of
Bank's security interest in such funds and verify the amount of such Account.
Borrower shall collect all amounts owing to Borrower for Bank, receive in trust
all payments as Bank's trustee, and if requested or required by Bank,
immediately deliver such payments to Bank in their original form as received
from the account debtor, with proper endorsements for deposit.

9.7 Bank Expenses. If Borrower fails to pay any amounts or furnish any
-------------
required proof of payment due to third persons or entities, as required under
the terms of this Agreement, then Bank may do any or all of the following: (a)
make payment of the same or any part thereof; (b) set up such reserves under the
Committed Revolving Line as Bank deems necessary to protect Bank from the
exposure created by such failure; or (c) obtain and maintain insurance policies
of the type discussed in Section 6.5 of the Domestic Agreement, and take any
action with respect to such policies as Bank deems prudent. Any amounts so paid
or deposited by Bank shall constitute Bank Expenses, shall be immediately due
and payable and shall bear interest at the then applicable rate hereinabove
provided, and shall be secured by the Collateral. Any payments made by Bank
shall not constitute an agreement by Bank to make similar payments in the future
or a waiver by Bank of any Event of Default under this Agreement.

9.8 Bank's Liability for Collateral. So long as Bank complies with
-------------------------------
reasonable banking practices and applicable law, Bank shall not in any way or
manner be liable or responsible for: (a) the safekeeping of the Collateral; (b)
any loss or damage thereto occurring or arising in any manner or fashion from
any cause: (c) any diminution in the value thereof; or (d) any act or default of
any carrier, warehouseman, bailee, forwarding agency, or other person
whomsoever. All risk of loss, damage or destruction of the Collateral shall be
borne by Borrower.

9.9 Demand: Protest. Borrower waives demand, protest, notice of protest,
---------------
notice of default or dishonor, notice of payment and nonpayment, notice of any
default, nonpayment at maturity, release, compromise, settlement, extension or
renewal of accounts, documents, instruments, chattel paper, and guarantees at
any time held by Bank on which Borrower may in any way be liable.

10. CHOICE OF LAW AND VENUE; JURY TRIAL WAIVER
------------------------------------------

The laws of the Commonwealth of Massachusetts shall apply to this
Agreement. BORROWER ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERITIES,
UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT
OF COMPETENT JURISDICTION IN

-11-


THE COMMONWEALTH OF MASSACHUSETTS IN ANY ACTION, SUIT, OR PROCEEDING OF ANY
KIND, AGAINST IT WHICH ARISES OUT OF OR BY REASON OF THIS AGREEMENT; PROVIDED,
HOWEVER, THAT IF FOR ANY REASON BANK CANNOT AVAIL ITSELF OF THE COURTS OF THE
COMMONWEALTH OF MASSACHUSETTS, BORROWER ACCEPTS JURISDICTION OF THE COURTS AND
VENUE IN SANTA CLARA COUNTY, CALIFORNIA.

BORROWER AND BANK EACH HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF ANY OF THE
EXIM LOAN DOCUMENTS OR ANY OF THE TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING
CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR
STATUTORY CLAIMS. EACH PARTY RECOGNIZES AND AGREES THAT THE FOREGOING WAIVER
CONSTITUTES A MATERIAL INDUCEMENT FOR IT TO ENTER INTO THIS AGREEMENT. EACH
PARTY REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL
COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL.

11. WAIVERS: INDEMNIFICATION
------------------------

11.1 Indemnification. Borrower shall defend, indemnify and hold harmless
---------------
Bank and its officers, employees, and agents against: (a) all obligations,
demands, claims, and liabilities claimed or asserted by any other party in
connection with the transactions contemplated by this Exim Agreement, and (b)
all losses or Exim Bank. Expenses in any way suffered, incurred, or paid by Bank
as a result of or in any way arising out of, following, or consequential to
transactions between Bank and Borrower whether under this Exim Agreement, or
otherwise (including without limitation reasonable attorneys fees and expenses),
except for losses caused by Bank's gross negligence or willful misconduct.

12. NOTICES
-------

Unless otherwise provided in this Exim Agreement, all notices or demands by
any party relating to this Exim Agreement at any other agreement entered into in
connection herewith shall be in writing and (except for financial statements and
other informational documents which may be sent by first-class mail, postage
prepaid) shall be personally delivered or sent by a recognized overnight
delivery service, by certified mail, postage prepaid, return receipt requested,
or by telefacsimile to Borrower or to Bank, as the case may be, at the address
set forth in the Domestic Loan Documents. The parties hereto may change the
address at which they are to receive notices hereunder, by notice in writing in
the foregoing manner given to the other.

13. GENERAL PROVISIONS
------------------

13.1 Succesors and Assigns. This Exim Agreement shall bind and inure to the
---------------------
benefit of the respective successors and permitted assigns of each of the
parties; provided, however, that neither this Exim Agreement nor any rights
hereunder may be assigned by Borrower without Bank's prior written consent,
which consent may be granted or withheld in Bank's sole discretion. Bank shall
have the right without the consent of or notice to Borrower to sell, transfer,
negotiate, or grant participations in all or any part of, or any interest in
Bank's obligations, rights and benefits hereuder.

13.2 Time of Essence. Time is of the essence for the performance of all
---------------
obligations set forth in this Exim Agreement.

13.3 Severability of Provisions. Each provision of this Exim Agreement
--------------------------
shall be severable from every other provision of this Exim Agreement for the
purpose of determining the legal enforceability of any specific provision.

13.4 Amendments in Writing. This Exim Agreement cannot be changed or
---------------------
terminated orally. Without the prior written consent of Exim Bank, no material
amendment of or deviation from the terms of this Exim Agreement or the Note
shall be made that would adversely affect the interests of Exim Bank under the
Exim Guarantee, including without limitation the rescheduling of any payment
terms provided for in this Exim

-12-


Agreement. All prior agreements, understandings, representations, warranties,
and negotiations between the parties hereto with respect to the subject matter
of this Exim Agreement, if any, are merged into this Exim Agreement.

13.5 Counterparts. This Exim Agreement may be executed in any number of
------------
counterparts and by different parties on separate counterparts, each of which,
when executed and delivered, shall be deemed to be an original, and all of
which, when taken together, shall constitute but one and the same Exim
Agreement.

13.6 Survival. All covenants, representations and warranties made in this
--------
Exim Agreement shall continue in full force and effect so long as any
Obligations remain outstanding. The obligations of Borrower to indemnify Bank
with respect to the expenses, damages, losses, costs and liabilities described
in Section 11.1 shall survive until all applicable statute of limitations
periods with respect to actions that may be brought against Bank have run.

13.7 Countersignature. This Agreement shall become effective only when it
----------------
shall have been executed by Borrower and Bank (provided, however, in no event
shall this Agreement become effective until signed by an officer of Bank in
California).

13.8 Confidentiality. In handling any confidential information Bank shall
---------------
exercise the same degree of care that it exercises with respect to its own
proprietary information of the same types to maintain the confidentiality of any
non-public information thereby received or received pursuant to this Agreement
except that disclosure of such information may be made (i) to the subsidiaries
or affiliates of Bank in connection with their present or prospective business
relations with Borrower, (ii) to prospective transferees or purchasers of any
interest in the Loans, provided that they have entered into a comparable
confidentiality agreement in favor of Borrower and have delivered a copy to
Borrower, (iii) as required by law, regulations, rule or order, subpoena,
judicial order or similar order, (iv) as may be required in connection with the
examination, audit or similar investigation of Bank, and (v) as Bank may deem
appropriate in connection with the exercise of any remedies hereunder.
Confidential information hereunder shall not include information that either:
(a) is in the public domain or in the knowledge or possession of Bank when
disclosed to Bank, or becomes part of the public domain after disclosure to Bank
through no fault of Bank; or (b) is disclosed to Bank by a third party, provided
Bank does not have actual knowledge that such third party is prohibited from
disclosing such information.

IN WITNESS WHEREOF, the parties hereto have caused this Exim Agreement to
be executed as of the date first above written.

SEACHANGE INTERNATIONAL, INC.


By: /s/ WL Fielder
----------------------------------

Name: WL FIELDER
--------------------------------

Title: VICE PRESIDENT
-------------------------------


SILICON VALLEY BANK, d/b/a
SILICON VALLEY EAST


By:_________________________________

Name:_______________________________

Title:______________________________

-13-


SILICON VALLEY BANK


By:__________________________________________

Name:________________________________________

Title:_______________________________________
(Signed in Santa Clan County, California)

-14-


EXHIBIT A
---------

The Collateral consists of all right, title and interest of Borrower in and
to the following:

All goods, equipment, inventory, contract tights, general intangibles,
accounts, documents, instruments, chattel paper, cash, deposit accounts,
fixtures, letters of credit, investment property, and financial assets, whether
now owned or hereafter acquired, wherever located; and

All Borrower's Books relating to the foregoing and arty and all claims,
rights and interests in any of the above and all substitutions for, additions,
attachments, accessories, accessions and improvements to and replacements,
products, proceeds and insurance proceeds of any or all of the foregoing.

The Collateral does not include:

Any copyright tights, copyright applications, copyright registrations and
like protections in each work of authorship and derivative work, whether
published or unpublished, now owned or later acquired; any patents, trademarks,
service marks and applications therefor, any trade secret rights, including any
rights to unpatented inventions, know-how, operating manuals, license rights and
agreements and confidential information, now owned or hereafter acquired; or any
claims for damages by way of any past, present and future infringement of any of
the foregoing.


EXHIBIT B
---------

Revolving Promissory Note
(Export-Import Line)

$3,000,000.00 _______, 2000

FOR VALUE RECEIVED, the undersigned (the "Borrower"), promises to pay to
the order of Silicon Valley Bank ("Bank"), at such place as the holder hereof
may designate, in lawful money of the United States of America, the aggregate
unpaid principal amount of all advances ("Advances") made by Bank to Borrower,
up to a maximum principal amount of Three Million Dollars ($3,000,000.00), plus
interest on the aggregate unpaid principal amount of such Advances, at the rates
and in accordance with the terms of the Export-Import Bank Loan and Security
Agreement between Borrower and Bank of even date herewith, as amended from time
to time (the "Loan Agreement") on the first calendar day of each month after an
Advance has been made. The entire principal amount and all accrued interest
shall be due and payable on March 31, 2001, or on such earlier date, as provided
for in the Loan Agreement.

Borrower irrevocably waives the right to direct the application of any and
all payments at any time hereafter received by Bank from or on behalf of
Borrower, and Borrower irrevocably agrees that Bank shall have the continuing
exclusive right to apply any and all such payments against the then due and
owing obligations of Borrower as Bank may deem advisable. In the absence of a
specific determination by Bank with respect thereto, all payments shall be
applied in the following order: (a) then due and payable fees and expenses; (b)
then due and payable interest payments and mandatory prepayments; and (c) then
due and payable principal payments and optional prepayments.

Bank is hereby authorized by Borrower to endorse on Bank's books and
records each Advance made by Bank under this Note and the amount of each payment
or prepayment of principal of each such Advance received by Bank; it being
understood, however, that failure to make any such endorsement (or any errors in
notation) shall not affect the obligations of Borrower with respect to Advances
made hereunder, and payments of principal by Borrower shall be credited to
Borrower notwithstanding the failure to make a notation (or any errors in
notation) thereof on such books and records.

Borrower promises to pay Bank all reasonable costs and expenses, including
all reasonable attorneys' fees, incurred in such collection or in any suit or
action to collect this Note or in any appeal thereof, unless a final court of
competent jurisdiction finds that the Bank acted with gross negligence or
willful misconduct. Borrower waives presentment, demand, protest, notice of
protest, notice of dishonor, notice of nonpayment, and any and all other notices
and demands in connection with the delivery, acceptance, performance, default or
enforcement of this Note, as well as any applicable statute of limitations. No
delay by Bank in exercising any power or right hereunder shall operate as a
waiver of any power or tight. Time is of the essence as to all obligations
hereunder.


This Note is issued pursuant to the Loan Agreement, which shall govern the
rights and obligations of Borrower with respect to all obligations hereunder.

The law of the Commonwealth of Massachusetts shall apply to this Agreement.
BORROWER ACCEPTS FOR ITSELF AND IN CONVECTION WITH ITS PROPERTIES,
UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT OF
COMPETENT JURISDICTION IN THE COMMONWEALTH OF MASSACHUSETTS IN ANY ACTION, SUM
OR PROCEEDING OF ANY KIND, AGAINST IT WHICH ARISES OUT OF OR BY REASON OF THIS
AGREEMENT; PROVIDED, HOWEVER, THAT IF FOR ANY REASON BANK CANNOT AVAIL ITSELF OF
THE COURTS OF THE COMMONWEALTH OF MASSACHUSETTS, BORROWER ACCEPTS JURISDICTION
OF THE COURTS AND VENUE IN SANTA CLARA COUNTY, CALIFORNIA.

BORROWER WAIVES ITS RIGHT TO A BURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION
BASED UPON OR ARISING OUT OF ANY OF THE EXIM LOAN DOCUMENTS OR ANY OF THE
TRANSACTIONS CONTEMPLATED THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS,
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. BORROWER
RECOGNIZES AND AGREES THAT THE FOREGOING WAIVER CONSTITUTES A MATERIAL
INDUCEMENT FOR IT TO ENTER INTO THIS AGREEMENT. BORROWER REPRESENTS AND WARRANTS
THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY
AND VOLUNTARILY WAIVES ITS JURY-TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL
COUNSEL.

SEACHANGE INTERNATIONAL, INC.

By:
-----------------------------
Name:
---------------------------
Title:
--------------------------


EXHIBIT C
---------

LOAN PAYMENT/ADVANCE TELEPHONE REQUEST FORM -
DEADLINE FOR SAME DAY PROCESSING IS 3:00 P.M., E.S.T.

TO: CENTRAL CLIENT SERVICE DIVISION DATE:______________
FAX #: (781) 431-0753 TIME:______________


FROM:
------------------------------------------------------------------------
CLIENT NAME (BORROWER)

REQUESTED BY:
----------------------------------------------------------------
AUTHORIZED SIGNERS NAME

AUTHORIZED SIGNATURE:
--------------------------------------------------------
PHONE NUMBER:
----------------------------------------------------------------

FROM ACCOUNT # ______________________ TO ACCOUNT # ___________________

REQUESTED TRANSACTION TYPE REQUEST DOLLAR AMOUNT
-------------------------- ---------------------

PRINCIPAL INCREASE (ADVANCE) $
---------------------------
PRINCIPAL PAYMENT (ONLY) $
---------------------------
INTEREST PAYMENT (ONLY) $
-----------------------
PRINCIPAL AND INTEREST (PAYMENT) $
-----------------------
OTHER INSTRUCTIONS:
-------------------------------------------------------------

--------------------------------------------------------------------------------

All representations and warranties of Borrower stated in the Loan Agreement
are true, correct and complete in all material respects as of the date of the
telephone request for and Advance confirmed by this Borrowing Certificate;
provided, however, that those representations and warranties expressly referring
to another date shall be true, correct and complete in all material respects as
of such date.

--------------------------------------------------------------------------------
BANK USE ONLY:
TELEPHONE REQUEST
-----------------
The following person is authorized to request the loan payment
transfer/loan advance on the advance designated account and is known to me.
_____________________________ __________________________________________
Authorized Requester Phone #

_____________________________ __________________________________________
Received by (Bank) Phone #

__________________________________
Authorized Signature (Bank)

--------------------------------------------------------------------------------


EXHIBIT D
---------

BORROWING BASE CERTIFICATE

COLLATERAL SCHEDULE
(FOREIGN AIR LINE OF CREDIT)

--------------------------------------------------------------------------------

Borrower: Seachange International, Inc. Lender: Silicon Valley Bank
124 Acton Street 3003 Tasman Drive
Maynard MA 01754 Santa Clara, CA 95054

Commitment Amount: $3,000,000.00
--------------------------------------------------------------------------------
FOREIGN ACCOUNTS RECEIVABLE FROM EXPORT ACTIVITIES

1. Accounts Receivable Book Value as of _____________ $__________
2. Additions (please explain on reverse) $__________
3. TOTAL FOREIGN ACCOUNTS RECEIVABLE $__________

ACCOUNTS RECEIVABLE DEDUCTIONS

4. Term in excess of 120 days $__________
5. Amounts over 60 days from due date of invoice $__________
6. Balance of 25% over 120 day accounts $__________
7. Excess 25% Concentration $__________
8. Accounts not payable in the U.S. $__________
9. Governmental and Military Accounts $__________
10. Contra Accounts $__________
11. Promotion, Demo or Consignment Accounts $__________
12. Intercompany/Employee and Affiliate Accounts $__________
13. Accounts in the form of L/Cs, if subject items have
not yet been shipped by Borrower $__________
14. Accounts, if any, arising from Inventory not
originally located in and shipped from the US. $__________
15. Accounts arising from the sale of defense articles
or items $__________
16. Accounts of buyers located in or form countries in
which shipment is prohibited or no coverage available $__________
17. Amounts due and collectable outside U.S. $__________
18. Other exclusions under Borrower Agreement or otherwise $__________
19. TOTAL ACCOUNTS RECEIVABLE DEDUCTIONS $__________
20. Eligible Accounts (No. 3 - No. 19) $__________
21. Loan Value of Accounts (90%-Advance) $__________
INVENTORY
22. Eligible Export-Related Inventory Value as of _______ $__________
23. LOAN VALUE OF INVENTORY (50% of #22) $__________
BALANCES
24. Maximum Loan Amount $3,000,000.00
25. Total Available (2t plus lesser of (i) $750,000.00
or (ii) #23) $__________
26. Present balance owing on Line of Credit $__________
27. Outstanding under Sublimits $__________
28. RESERVE POSITION (No. 25 - (No. 26 + No. 27)) $__________


The undersigned represents and warrants that the foregoing is true,
complete and correct, and that the information reflected in this Collateral
Schedule complies with the representations and warranties set forth is the
Borrower Agreement, executed by Borrower and acknowledged by Lender, and the
Export-Import Bank Loan and Security Agreement, executed by Borrower and
acknowledged by Leader dated _______________, 2000, as may be amended from time
to time, as if all representations and warranties were made as of the date
hereof and that Borrower is, and shall remain, in full compliance with its
agreements, covenants, and obligations under such agreement. Such
representations and warranties include, without limitation, the following:
Borrower is using disbursements only for the purpose of enabling Borrower to
finance the cost of manufacturing, producing, purchasing or selling items
intended for export. Borrower is not using disbursements foe the purpose of (a)
servicing any of Borrower's unrelated pre-existing or future indebtedness; (b)
acquiring fixed assets or capital goods for the use of Borrower's business; (c)
acquiring, equipping, equipping or renting commercial spaces outside the United
States; (d) supporting research and development; (c) paying salaries of non-U.S.
citizens or non-U.S. permanent residents who are located in the offices of the
United States; or (f) serving as a retainage or warranty bond. Additionally,
disbursements are not being used to finance the manufacture, purchase or sale of
say of the following: (a) items to be sold to a buyer located in a country in
which the Export Import Bank of the United States is legally prohibited from
doing business; (b) that part of the cost of the items which is not U.S. Content
unless such part is not greater than fifty percent (50%) of the cost of the
items and is incorporated into the items in the United States; (c) defense
articles or defense services or items directly or indirectly destined for use by
military organizations designed primarily far military use (regardless of the
nature or actual use of the items); or (d) any items to be used is the
construction, alteration, operation or maintenance of nuclear power, enrichment,
reprocessing, research of heavy water production facilities.

Sincerely,

SEACHANGE INTERNATIONAL, INC.



By:
---------------------------------

Name:
-------------------------------
Chief Financial Officer

Date:
-------------------------------


------------------------------

BANK USE ONLY
Received
By: ___________________
Date: __________________
Verified
By: ___________________

------------------------------