The first estimates for the factoring industry worldwide in 2020 have been announced today by the FCI’s Peter Mulroy. Factoring declines were recorded in most regions except Asia Pacific.
Payables finance is changing, often driven by the demands of corporates, looking for inclusive and sustainable programmes when considering who to select for supply chain financing (SCF) programmes.
EUF plays an important role for our industry today more than ever and confirming FCI’s support regarding the lobbying of the new definition of default with the EBA.
TFG heard from Robert Meters on the significant role of trade credit insurance in the current economic crisis the global trade is facing.
ITFA and TFG, today, launched their international trade finance guide, aimed at clarifying and defining standard definitions for trade finance products, as well as the risks, challenges and opportunities within trade finance.
TFG announced a media partnership with City & Financial Global Ltd for 10th edition of City Week 2020 – its annual International Financial Services Forum.
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.
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.
ICC has taken the lead to keep trade moving during the Covid-19 pandemic by publishing the eUCP and eURC eRules guidelines for faster and efficient trade transactions.
With factoring and receivables finance volumes continuing to show modest growth around the world, TFG caught up with FCI’s Secretary General, Peter Mulroy, in an association update for the latest issue of Trade Finance Talks.
ITFA has led another industry wide initiative to draw the attention of governments and regulators to the importance of the continuous support of all the different insurance tools in times of crisis.
TFG heard from WOA’s founder, Erik Timmermans, on the latest in receivables and open account trade in 2020, the impact of the COVID pandemic on the RF community, and what we could expect for the remainder of the year.
EIPP in combination with blockchain can help banks avoid duplicate Invoice Financing and perform dedupe effectively.
As lockdowns became the norm around the globe, governments have had to step in to support their economies due to the substantial downturn in economic activity – breaking stimulus records in the process.
SMEs need to re-think their innovation strategy including digitalisation as the pandemic has accelerated the shift to digital technology in trade.