The International Chamber of Commerce (ICC) announced that it has accelerated attempts to digitalise of trade finance by releasing two new sets of enhanced rules, Uniform Customs and Practise for Documentary Credits (eUCP) and Uniform Rules for Collections (eURC 522).
Anti-money laundering is the process of financial institutions and other business entities using in-house (sometimes assisted by external parties – more on this to come) methods to address the risks posed by Trade-Based Money Laundering.
At Trade Finance Global we get asked a lot of questions around Letters of Credit, so we’ve put together a quick cheat sheet on LCs, payment times and the presentation… read more →
What is the difference between a Bank Guarantee and a Letter of Credit? Bank Guarantees and Letters of Credit (LCs) are used in trade to carry out international transactions. LCs… read more →