Bonds, Guarantees and Letters of Credit

TFG heard from Elitsa Garnizova, Senior Project Manager and Researcher, London School of Economics on the current updates and what we can expect in this UK-EU-US economic relationship.

New report from GSCFF aims to address criticisms across three key areas: the potential adverse impact on suppliers, issues relating to financial reporting and transparency, and overall programme risk.

Barings Bank collapse. Noble Group’s demise. The 2020 commodities scandals of Agritrade, Hin Leong, Zenrock, Sugih Energy and Hontop Energy. Will these recent commodity financial scandals shatter Singapore’s reputational armour?

TFG heard from Dr. Özge TOSUN, legal counsel at Export Credit Bank of TURKEY (Turk Eximbank) on the various surety bond dilemmas in Turkish insurance including the impracticality of expecting Turkish law to govern all overseas contracts.

TFG announced a media partnership with the SCHUMANN Conference 2020, a digital Credit Risk Management event, which will be held online on 1st October 2020.

Having an understanding of the types of LC availability, and the differences between them, will help the beneficiary formulate the terms of the letters of credit that it would be willing to accept, and to mention such terms in their discussions and sales contracts with their clients.

Under the Export Development Guarantee (EDG), UKEF can provide partial guarantees covering up to 80 per cent of the risk to lenders for a maximum repayment period of up to five years.

TFG heard from Arnaud Doly, CEO & Founder, Nabu, on how blockchain and AI can play a key role in helping reduce unmet demands in trade finance and completing the work that humans do to provide better trade finance services.

TFG heard from Andreas Tesch of Atradius on the status of credit insurance market in Asia and the key initiatives taken in response to Covid-19’s impact on Asian trade.

In preparation for the launch of TFG’s latest issue of Trade Finance Talks, the team caught up with Berne Union’s Secretary General, Vinco David.

TFG heard from ICISA’s Secretary General, Robert Nijhout, on ICISA’s immediate calls to government to meet the demainds triggered by Covid19 pandemic.

Wirecard is suspected of misleading investors through aggressive accounting practices including inflating sales and revenue in order to appear to be performing better than it is actually doing.

Many new fintechs are fielding trade transaction cloud platforms that combine video technology with non-bank trade finance that is going to fill the vacuum created by the banking industry.

EIPP in combination with blockchain can help banks avoid duplicate Invoice Financing and perform dedupe effectively.

The Local Currency System – SML – resurfaces as an alternative to recover trade flows not only in the Mercosur but also in other regions of the world which can implement it.