For Exporters

If you blinked and put your feet up this bank holiday weekend, you probably missed out on a few important milestones for digitalizing trade.

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.

By integrating the DLPC structure into trace:original documents, the benefits of a payment undertaking supported by BAFT’s best practices can be enjoyed while avoiding the potential drawbacks of a closed consortium.

In this second installment of my two-part article, I endeavour to consider the documentary credit from the point of view of an exporter as well as its bank and provide some advice on how to best benefit from the effective use of documentary credits.

After Covid-19 crippled global commerce, the World Trade Organization said March 31 that it expected the planet’s merchandise trade to increase 8% in 2021 after contracting 5.3% in 2020.

Banks can play a frontline role in closing the sustainable trade finance gap and supporting a green recovery post-COVID-19 by embedding ESG checks, fostering collaboration and inclusion, and mainstreaming digital solutions.

ESG. Environmental, Social and Governance. Three words we hear more and more. But what does it actually mean?

The trade consequences of Brexit already include a dramatic shrinking of commerce with the EU, an expansion of trade with other allies, and redrawing of supply chains for companies.

We spoke to BACB’s new Money Laundering Reporting Officer on the new risks when combating fraud, and the role new technologies can play in fighting financial crime.

We take a dive into the world of Letters of Credit (LCs) and Standby Letters of Credit – some of the essential tools in cross-border trade transactions.

Documentary credits are one of the oldest, most sophisticated, and safest payment instruments used in international trade.

Cooperation between credit insurers, export credit agencies and governments prove how far we have come since 2008.

The most important IT investments of companies, banks, and financial institutions are in collaboration with business partners, digital transformation, big data, and analytics, as well as artificial intelligence and machine learning.

Collaboration with the scientific community stands to fast track technology in insurance and surety. We should be doing more to build these bridges.

We should be careful not to underestimate the importance of geography in any plan for post-Brexit trade