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Tradecast: Looking beyond COVID-19

China, ‘the world’s factory’ and home to $4 trillion in manufacturing output, is home to a significant proportion of confirmed cases of COVID-19. Now in shock, domestic factory output has seen sharp declines, as have the construction and retail sectors. Ports have been shut down, disrupting global supply chains, and the WTO now expects COVID-19 to have a substantial impact on global trade. Banks, tasked with maintaining the flow of trillions of dollars of trade finance, are now compelled to figure out how to keep trade operations running as usual, in a way that limits the spread of coronavirus. Major trade shows and events have been cancelled. And the long term impact on global commerce is unknown, with few experts willing to make predictions at this stage.

During these strange and unprecedented times, the global trade industry must act together to continue servicing economies around the world. TFG and ITFA welcomed global experts from the industry, joining from Singapore and London, to discuss how the trade industry is not only keeping the lights on, but forming the frontline for millions of businesses around the world.

Hosted and presented by

Sean Edwards, Chairman, ITFA

Deepesh Patel, Editor, Trade Finance Global

509 registered attendees

32 banks & funders

120 minute webinar

Streamed from 12 countries


Johanna Wissing

Resources

Slides

Ask the Expert: Q&A

Bank Perspective: Supply chain disruption and provision of working capital

Johanna Wissing, Director, FI Trade Sales Asia, Lloyds Banking Group, Emerging Leaders Committee, ITFA

  • How the ripple effect, starting in the Hubei Province, China is now impacting global supply chains
  • All hands on deck: the provision of working capital and SCF to corporates
  • What can borrowers do to minimise supply chain disruptions?


David Neckar

Resources

Slides

Ask the Expert: Q&A

Risk & Insurance Perspective: present and future impact on capacity, coverage and business models

David Neckar, Client Director, Willis Towers Watson, Board Member, ITFA

  • What is the current state of the trade credit insurance market, especially trade receivables and payables, given the recent COVID-19 pandemic?
  • Where do the biggest risks lie – for both FIs and corporates?
  • Is there enough capacity in the market to support the demand?
  • What should users be doing to manage their ongoing demands?
  • What changes might happen in the market – will insurers appetite change?


Andre Casterman

Ask the Expert: Q&A

Tradetech Perspective: Foot on the gas, has COVID-19 inadvertently accelerated trade digitisation?

Andre Casterman, Chief Marketing Officer, INTIX, Board Member, ITFA

  • Everyone is being advised to work from home. How can fintechs help trade banks rapidly go 100% digital?
  • What are fintechs doing to digitise trade, trade finance and documentation?
  • What trade (paperless) operations can banks immediately tap into to ensure that they can serve their corporate clients during times of isolation and minimal face to face business?
  • How can automated trade finance distribution help banks pass on government funding to their corporate / SME clients?


Ashley McDermott

Ask the Expert: Q&A

Legal Perspective: Testing the limits – Protecting your business in the face of COVID-19

Ashley McDermott, Partner, Mayer Brown

  • The coronavirus outbreak is placing huge pressures on FIs and businesses. What are the three most pressing issues your clients are asking you right now?
  • For commercial contracts that already exist, how can one assess their obligations on their existing contractual terms?
  • When things go wrong, how can two parties amicably resolve a dispute?
  • Force majeure has been frequently referred to in the case of coronavirus. Are there grounds for invoking this if the other party does not deliver?


Other Questions and Answers

Keith: Do you foresee more claims from receivables that are with a longer-term tenor or shorter-term tenor?

Johanna Wissing: Hi Keith, this is difficult to predict, but certainly at the moment we are experiencing a short term cash drag, but that could of course translate into longer-term financial difficulty. Ultimately, it comes down to the individual company, its health before this crisis and which tools it has available, i.e. which existing liquidity lines are available.

Is COVID-19 a natural disaster or force majeure event?

Iain Gunn: We have already had confirmation from one insurer that they do not regard Covid-19 as a natural disaster or a force majeure event but have covenanted that contractual terms will need to be considered in the context of any claim
Ash McDermott: Iain, that is broadly our experience at Mayer Brown. Our insurance team will be publishing a note on it on shortly at covid19.mayerbrown.com

Send us your questions and the panel will endeavour to answer, email us on: itfatradecast@tradefinanceglobal.com.


Polls Results


Introductory Questions – About the audience


Bank Perspective Poll


Trade Credit Insurance Perspective Poll


Legal Perspective Poll


Proudly partnered with ITFA

Next webinar to be announced shortly

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