The metaverse could spell a watershed moment in human economic history. It will reinforce the concept of global human culture, set rules for worldwide continuous automated trading 24/7, and forever alter our understanding of trade markets.
This article looks at the URDTT as it is applied to the first known commercial application: the eDTT Workspace.
When searching for a definition of documentary credit, the Uniform Customs and Practice for Documentary Credits (UCP 600) is the best place to start.
When using an usance or deferred letter of credit, the issuing bank must make payment by a preset date. This makes planning easier and unlocks working capital.
The current Incoterms 2020 rules, like those in previous versions before them, are entirely devoid of any clue to assist the very people they are all about – the seller and the buyer.
In our latest podcast, TFG’s Deepesh Patel spoke to Finastra’s Iain MacLennan on fintech collaboration vs competition, the challenge of digitalisation, and helping SMEs emerge from the COVID-19 pandemic
In CPT/CIP, the seller’s obligation is to deliver the goods to its own carrier on the agreed date or within the agreed period. See my earlier post on delivery for CPT/CIP.
This article looks at the Central Bank of Egypt’s decision to stop accepting documentary collections for imported goods, and substitute them with letters of credit. The decision is expected to have wide-reaching implications for Egypt’s business community and banking sector, writes Haitham Elsaid.
Assuming we are looking at the normal type of Letters of Credit with the latest shipment date, port/airport of loading, port or airport of destination and requirement to present an onboard B/L or an AWB, then the answer is “NO”.
Letters of credit are one of the most commonly used trade finance instruments, and they are a great way to increase security and mitigate risk during a trade transaction
Several public and private banks and financial institutions have imposed trade and commodity finance restrictions on Russia amid the escalating conflict in Ukraine
The US and its Western allies have ramped up harsh economic sanctions against Russia, as it continues to attack Ukraine
Delivery of the goods is “not unloaded” by the seller at the destination place, typically at either the CY (container yard) or the buyer’s premises.
In this article, SACE’s Irene Gambelli discusses the support provided by Italy’s export credit agency to SMEs during and after the pandemic, with an increasing focus on green finance
Letters of credit, forfaiting, factoring, export finance, and trade credit insurance: the most popular trade finance techniques companies are using in international trade