When dealing with the uncertainty of the shipping industry, insurance is a must. To help simplify and digitize the insurance process for the international trade industry, some initiatives have turned… read more →
Trade finance is crucial for trading activities. According to WTO estimates, up to 80 per cent of trade is financed by some form of financing. Yet, securing trade finance can… read more →
The loose notion of a supply chain is as old as trade itself. To help modernize the concept and provide firms with greater transparency, efficiency, and traceability, several innovative projects… read more →
Letter of Credit Trade finance as a whole had been struggling to traverse the divide into the digital age until it got a boost from blockchain technology. The Letter of… read more →
While discussing the many opportunities that DLT has may inspire dreams of an Arcadian future, it is crucial to take a step away from utopia and understand the real problems… read more →
With opportunities in mind and challenges addressed, we are free to look ahead to what the experts believe the future of the industry has in store. According to our survey… read more →
HaloTrade Halotrade is a blockchain-enabled fintech startup focused on the delivery of sustainable supply chain financing. Founded to help curb the issue of disengagement in supply chains, Halotrade creates a… read more →
Networks of networks are initiatives looking to harmonize the goals and efforts other varied initiatives. These projects are an excellent step towards standardizing the industry and bringing all players onto… read more →
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).
Your Monday morning coffee briefing from TFG. Here are some of the last week’s updates from the trade sector. 25th November 2019.
