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.
African trade finance literature is often trusted by SMEs and usually omits domestic financial institutional challenges, especially in the Francophone markets.
Digitalising these documents may seem like a bridge too far for some banks, but the risks of not investing in these technologies are comparatively greater.
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.
Contour announces a partnership with TradeSun, to simplify the handling and authentication of paper-based documents into R3 Corda.
The Covid-19 pandemic is accelerating trends and technologies that came online before January 2020 and were just getting traction.
TFG heard from Trade & Export Finance Specialist, Domenico Del Sorbo on practical aspects of payment instructions in international trade.
Having an understanding of the types of LC availability, and the differences between them, will help the beneficiary formulate the terms of the letters of credit that it would be willing to accept, and to mention such terms in their discussions and sales contracts with their clients.
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 BACB’s Jeff Fallon, arguing that deeper Africa-Europe integration will be challenging in the new environment – here’s why.
With the Covid-19 pandemic, our paper-based trade finance settlement system suddenly stopped working. It is about time businesses adopt paperless and digital workflow to safeguard trade finance operations.
In a bid to continue to promote and expand access to finance for small and medium sized businesses, TFG is delighted to announce an exciting industry partnership with the SME Finance Forum, an International Finance Corporation (IFC) managed project.
As advocates of DLT in global trade and commerce, TFG are partnering with 101 Blockchains to promote the education of specific technologies that are currently available.
TFG heard from Noviland’s Francois Jaffres on the real challenges of COVID-19 on purchasing PPE from Chinese suppliers and the impacts on payment terms such as LCs