Letters of credit, forfaiting, factoring, export finance, and trade credit insurance: the most popular trade finance techniques companies are using in international trade
Each day, mountains of trade finance data are delivered to banks, requiring urgent processing to support the flow of goods around the world.
Although UCP 600 and ISBP 745 offer no specific provisions for partial confirmations of letters of credit (LCs), MonetaGo’s Tat Yeen Yap says they are not only possible, but are “straightforward and efficient”.
As the clocks strike midnight, we look back at over 700 articles, handpicking our favourite stories that made the headlines in 2021
Like many organisations during the COVID-19 pandemic, the International Trade and Forfaiting Association (ITFA) has had to adapt to a changing business landscape.
Your Monday morning coffee briefing from TFG. Sixty-seven countries signed a landmark WTO deal set to cut the cost of global services trade by $150 billion per year.
In October this year, the International Trade and Forfaiting Association (ITFA) published its long-awaited harmonised Basel III-compliant trade credit insurance policy form.
Your Monday morning coffee briefing from TFG. Stagflation: Over 80% of US and UK businesses have been hit by increased costs due to inflation. The Bank of England’s (BoE) chief economist backs the case for raising interest rates, and the BoE warns that a CBDC could reduce commercial bank despotis by 20%. The U-shaped recovery – ICISA’s Richard Wulff discusses trade credit insurance and its bounce back from the pandemic. Dr. Joanna Burch-Brown explores the EU taxonomy and the ethics of green finance. And European gas shortages are expected to push up fertiliser costs and food prices.
Like many products within trade finance, trade credit insurance has endured serious volatility during the last 12-18 months, thanks to the COVID-19 pandemic.
As the trade finance industry shifts towards more digitalised ways of doing business, new niches are opening up within the market.
A new report by Euler Hermes has found that the UK economy is “trapped by policy choices” going into the end of 2021 and beginning of 2022.
The world’s most important number is changing, and traders need to be aware of its implications.
The UK and ten major trading partners have agreed to end export credit support for unabated coal-fired power plants
Last week, at the ITFA Annual Conference, TFG’s editor, Deepesh Patel, sat down with Sean Edwards, chairman of ITFA.
Letters of credit are the oldest and most common type of short term trade finance, famously described as the “lifeblood of international commerce,” with some commentators suggesting their use stretches back to 3000 BC. What makes them so successful?