With this global pandemic, it is recommended to encourage the use of guarantees and counter-guarantee subject to URDG 758 as it provides a balance between the interests of all the parties involved.
How are the rights and obligations of the parties to a credit affected on account of missed deadlines caused by these force majeure events?
The value of Trade Finance Programs, which if combined with regulatory and technological innovation, is destined to hasten the closing trade finance gap and bring broader positive economic outcomes for nations.
Letters of Credit are an involved subject. Bankers spend lots of time studying the various types and rules and regulations. “But hold on” I hear you say. I thought this article was entitled ‘Demystified.’ Well, for the typical importer or exporter dealing in individual transactions, they can be quite straightforward.
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.
TFG heard from Theo Cooke, Engagement Manager at Orbitt Capital on the state of the African trade finance gap.
A judgment handed down by the English Commercial Court in 2018 illustrates how trade finance banks can find themselves facing unexpected risks when things go wrong in their customers’ trading… read more →
SWIFT MT799 versus MT760 MT799 is a digital message that is sent between banks; with the aim of showing funds or proof of deposits. It is important to note that… read more →
Usance (or deferred) Letters of Credit are a specific type of LC payable at a predetermined time period. When Letters of Credit were first developed, there were a number of specific Letters… read more →
We spoke to Head of Global Trade & International Banking, Francisco Javier Fernández de Trocóniz at BBVA about the first blockchain based trade transaction between Europe and Latin America, following their… read more →
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 →
The rise in trade-based money laundering (TBML), combined with the enormous regulatory fines and ongoing scrutiny from various government agencies, has created a need for enhanced financial transparency, specifically where… read more →