Since the inception of UCP 600, trade finance professionals, in particular, the letter of credit community, have been discussing the need for and consequences of modifications and exclusions to the rules in commercial LCs issued under UCP 600.
Has digital trade finally arrived with the ICC eRules guidelines? John Dunlop explains how this might be true.
Your morning coffee briefing from TFG. US gas exporters face a tightening of European anti-pollution rules, Commercial Banking Applications prepares banks for SWIFT 2021
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.
Documentary credits are one of the oldest, most sophisticated, and safest payment instruments used in international trade.
How to make a millennia-old concept suitable for our evermore digital society
Ignore pressures to retrench. Trade finance infrastructure needs to grow now more than ever.
A documentary trade credit (DTC) is a trade finance substitute for a commercial bank documentary letter of credit. A DTC is issued and negotiated under the same UCP guidelines as a documentary letter of credit; except the funds supporting the instrument are available with a third party international escrow company instead of a commercial bank.
TFG heard from ICC Austria’s Trade Finance Week, in an update around Letters of Credit and Incoterms, the problems, challenges and opportunities. Featuring Bob Ronai and Hugo Verschoren
TFG heard from Arnaud Doly, CEO & Founder, Nabu, on how blockchain and AI can play a key role in helping reduce unmet demands in trade finance and completing the work that humans do to provide better trade finance services.
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.
TFG heard from Andreas Tesch of Atradius on the status of credit insurance market in Asia and the key initiatives taken in response to Covid-19’s impact on Asian trade.
Wirecard is suspected of misleading investors through aggressive accounting practices including inflating sales and revenue in order to appear to be performing better than it is actually doing.
The Local Currency System – SML – resurfaces as an alternative to recover trade flows not only in the Mercosur but also in other regions of the world which can implement it.