It’s around two weeks until the SWIFT Standards Release 2021, which is one of the items seemingly on everyone’s lips.
SWIFT is a communication platform that allows members to connect and exchange financial messages securely and reliably.
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.
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.