TFG heard from Alexander Goulandris the co-CEO of essDOCS about the different solutions for paperless trade. He exclusively announced the launch of a new product called CargoDocs Match, which will enable trade finance banks to continue to provide BPO-related solutions to their customers after SWIFT discontinues support for the Trade Services Utility (TSU) in 2020.
Access to affordable trade finance is a condition of success in international trade, to the same extent as rapid clearance of customs and efficient transportation. For decades, successful companies in developed countries have benefitted from the existence of mature financial industries distributing high volumes of finance and guarantees at low rates. Trade finance is normally a high volume and low-cost source of finance, because the risk of default is small, with a global average of 0.2%, and little difference across countries.
The International Chamber of Commerce (ICC) has released Incoterms® 2020, the globally recognised trade terms for the sale of goods, providing certainty and clarity to business and traders everywhere. The… read more →
Today TFG record live from the ITFA Annual Meeting in Budapest. The conference covered developments within areas of supply chain finance, credit risk insurance and ever more creative risk distribution techniques, as well as the rise of fintech within the trade and open account environment.
Today we’re reminding our listeners that incoterms rules are changing at the start of 2020. With the updates and specific changes to be announced very shortly by the International Chamber of Commerce. We are delighted to be joined by a world-renowned exporting expert, Mr Robert Ronai.
A new online service launched today from the Department of International Trade (DIT) will make it easier for British businesses to trade globally. The tool launched today will allow British… read more →
The nature of Xi Jinping’s political hegemony has altered China’s conduct and outlook of international trade; based on China’s economic past, what could this spell for the future?
The financial crisis of 2007/2008 triggered many after-shocks. One was the knock to global trade. We heard from David Morris, Relationship Director at The London Institute of Banking & Finance for his views.
The value of global trade today is around $40 trillion. Approximately 10% of this amount is commodity trade. Therefore being able to predict what is likely for the future of the trade industry to hold is essential for business growth and preparation. Some of the most influential factors on global trade today are
Letters of Credit are an involved subject. Bankers spend lots of time studying the various types and rules and regulations. “But hold on” I hear you say. I thought this article was entitled ‘Demystified.’ Well, for the typical importer or exporter dealing in individual transactions, they can be quite straightforward.
‘Make in India’ is an ambitious initiative put forward by Prime Minister Narendra Modi in 2014. Even though much has been done for the successful implementation of the initiative, there are a lot of pitfalls left to be addressed.
History’s most ambitious and extensive infrastructure project is currently underway. If successful, China will become the world’s undisputed Centrepoint of trade. However, such a triumph will not come easily.
Inspection and stock management are critical components of overseas trade and the import / export of goods. TFG spoke to Valeriya Ovdienko, Project Manager at DRUM Risk Limited about the physical and transactional risks in the commodity supply chain.
PARIS, 12th June. Today marks the release of the ICC Banking Commission’s 2018 Trade Register Report – again highlighting the low-risk nature of trade finance in comparison to other asset classes.