In order to communicate with each other, banks use a messaging system called SWIFT (Society for Worldwide Interbank Financial Telecommunication), which provides a standardized and secure way to exchange information. There are several different types of SWIFT messages that banks use for various purposes.

Trade Finance Global (TFG) spoke with Pamela Mar, managing director at the ICC Digital Standards Initiative, to explore the key themes driving trade digitisation and their potential impact on trade and trade finance in 2023.

The International Chamber of Commerce (ICC), a global business organisation, has a central mission to promote international trade and investment as vehicles for inclusive growth and prosperity. ICC helps businesses adapt to the challenges of trading in today’s fast-paced global economy.  

With an estimated 3.5 billion fans around the world, it’s no wonder the finance behind football piques interest, even in the world of trade and receivables finance.

TFG interviewed ITFA and ADB about the financing of dirty commodities and fossil fuels, and what a sustainable transition means for trade finance.

As more companies look for ways to expand into new markets, surety bonds provide a valuable safeguard and financial advantage.

A court ruling on 22 February heard that the Marco Polo Network has debts of more than €5.2 million (£4.6 million).

Trade and export finance expert Domenico Del Sorbo’s take on how to prepare the “draft” in accordance with the letter of credit conditions and provisions.

UCP 600 article 2 states that a “Complying Presentation means a presentation that is in accordance with the terms and conditions of the credit, the applicable provisions of these rules and international standard banking practice.”

While consensus and recognised standards exist for carbon footprint measurement and reporting, carbon offsetting and the quality of underlying projects are still subject to debate.