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 former Head of Product Management Asia, Trade Services and Finance, Société Générale, Tat-Yeen Yap.
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
The Letters of Credit (LC) process is perhaps one of the more recognisable elements of trade finance that needs innovation. TFG spoke to Carl Wegner, CEO of Contour to find out more
With Vision 2030, Saudi Arabia has embarked on the boldest model of economic and social reform anywhere in the world. TFG spoke to SABB about this transformation in raising the Kingdom’s non-oil trade from 16% to 50% of GDP.
There is a common miss-conception that four or five multiple banks must be involved to manage letter of credit transactions. These multiple banks include credit issuing banks, advising banks, negotiating banks, confirming banks, and reimbursing banks. What is less understood is that these “banks” are functions, not necessarily physical banks. The trade finance functions these banks perform in a transaction can be done by separate banking institutions or by one bank under UCP 600 guidelines (Uniform Customs and Practice for Documentary Credits, ICC Publication 600).
We heard from ICC United Kingdom’s Chris Southworth, Professor Charles Debattista and David Lowe from the ICC Incoterms® 2020 Steering Committee. We hear about the importance of Incoterms® in international trade, why they are changing in 2020, and what businesses should be thinking about in order to prepare for these changes.