Owing to the pandemic, eUCP Version 2.0 and eURC Version 1.0 rules created by the ICC have received increased interest over the past few months. There is a growing realisation by practitioners that paper documents are causing delays and disruption.
Category: Legal
VIDEO: Africa Focus: Trade Digitisation – Trade Finance Week 2021
In partnership with ICC Austria, Trade Finance Global’s Editor, Deepesh Patel, hears from Kwabena Ayirebi from AfreximBank and Isaac Mahanke from Standard Bank about trade digitisation, compliance and risk in a post-COVID-19 world.
Next gen trade finance digitization: 6 pain points for banks and how to fix it
The need for trade finance digitization has never been clearer. In today’s pandemic-ravaged landscape, banks face multiple challenges, including the legislative shift to digital trade documents and growing regulatory scrutiny, changing customer behaviour and increasing competition in the form of trade finance investment funds.
G7 pledge to facilitate trade digitisation backed by Surecomp
Surecomp® announced today that it embraces and is fully equipped to support the G7 move towards digitisation, allowing companies to electronically transfer trade documents for increased efficiency and cost savings. The recent pledge from the G7 technology ministers – which has been welcomed by the ICC and further backed by the UK’s Law Commission who… Continue reading G7 pledge to facilitate trade digitisation backed by Surecomp
Government called to set policy objectives urgently by unprecedented coalition of business, unions and consumer groups
On June 2nd, the Government must set clear objectives on jobs, inequality and the environment for its post-Brexit trade policy, as an unprecedented coalition of unions, business groups and consumer rights organisations is placing increasing pressure on government officials. The International Chamber of Commerce, Trades Union Congress and Which? are among 11 organisations that have… Continue reading Government called to set policy objectives urgently by unprecedented coalition of business, unions and consumer groups
Interview: Advance Cargo Information (ACI), eBills of Lading and Single Windows
TFG spoke to CargoX about their Blockchain Documentary Transfer (BDT) programme, Advanced Cargo Information and Single Windows
£60k onboarding cost and 30 documents to check: Financial regulations blocking SME trade growth
New research from the ICC United Kingdom and the Trade & Export Promotion APPG states that financial crime rules “unintentionally and unfairly” punish smaller firms when they try to trade. SMEs are prevented from trading internationally because of outdated financial crime rules dating back to the 9/11 terrorist attacks, a cross-party group of MPs and… Continue reading £60k onboarding cost and 30 documents to check: Financial regulations blocking SME trade growth
WTO Appellate Body no longer functioning – come join the (interim) party?
With the WTO Appellate Body no longer functioning, will the interim appeal arrangements established by the EU, Australia, Canada and others not just ‘stop the gap’ but also pave the way to reform?
Financial Crime Stoppers: Wolfsburg, ICC and BAFT on demand guarantee practices
Money laundering has become more visible in global trade over the past few years, and several organizations are trying to identify and prevent it.
UK consults US on steel and aluminium import tariffs
The UK has launched a review of Section 232 tariffs against the US in response to the ongoing trade conflict around steel and aluminium. A public consultation has opened aimed at ensuring any future tariffs applied in response to the US’ unjustified ‘Section 232’ duties on aluminium and steel imports are shaped to UK interests.… Continue reading UK consults US on steel and aluminium import tariffs
TFG partners up with Surecomp on trade finance digitization webinar
London. Trade Finance Global (TFG) is delighted to announce it’s partnership with Surecomp’s latest free webinar: Next Gen Trade Finance Digitization.
The end of LIBOR and what it means for trade finance
BNY Mellon’s Joon Kim, Global Head of Trade Finance Product and Portfolio Management, Treasury Services, explores how the move from LIBOR to SOFR will impact trade finance.
Robin Abrams, TFG, confirms PSR Panel position for Payment Systems Regulator for 2020-2022
Robin Abrams, Director at Trade Finance Global has confirmed his position on the PSR Panel for the Payment Systems Regulator (PSR) for the term of 2020-2022.
Trade digitalization milestones: a series of fortunate events
If you blinked and put your feet up this bank holiday weekend, you probably missed out on a few important milestones for digitalizing trade.
Podcast: The LIBOR transition and trade finance
By the end of 2021, it’s anticipated that LIBOR rates will be discontinued, transitioning to the SONIA or SOFR. But what does this mean for trade finance? ITFA explains