The ICC’s Trade Finance Register has been released, reporting a small increase in default rates across documentary trade and open account products, whilst highlighting still, the low-risk nature of the asset class.

Sibos 2023, held this year in Toronto, allows industry stakeholders to come together to discuss industry trends and issues. 

The German branch of the International Chamber of Commerce, ICC Germany, in collaboration with financial technology firm MonetaGo, has released a report stating that digitalisation is key to combating global… read more →

In this episode of Trade Finance Talks, TFG’s Deepesh Patel was joined by Shirish Wadivkar, Global Head – Wholesale Payments & Trade Strategy at Swift, to uncover the conference’s core themes, the latest Swift initiatives, and strategies to prepare for Sibos 2023.

The FIT Alliance, formed of BIMCO, DCSA, FIATA, ICC, and Swift, has initiated the “Electronic Bill of Lading Declaration” to enhance the efficiency, reliability, sustainability, and security of global trade through the use of electronic Bills of Lading (eBLs).

ICC and Swift, the global leader in secure financial messaging services, have unveiled the first application programming interface (API) industry standards for bank guarantees and standby letters of credit. The… read more →

A judge in a Canadian court case has ruled that a thumbs-up emoji constituted a legally binding acceptance of a contract, ordering the defendant, who failed to fulfill their end of the deal, to pay more than $82,000 in damages. 

In the geographically dispersed world of international trade finance, efficient communication is crucial. 

This is why the Society for Worldwide Interbank Financial Telecommunication – better known as SWIFT – created its messaging types, which have long served as a means for banks around the globe to communicate and facilitate transactions.

Trade finance plays a vital role in global economic activities, facilitating the movement of goods and services across borders. 

In 1977, as Mr Justice Kerr was coining his often-cited description of the letter of credit as the “lifeblood of international commerce”, the obstruction caused by the use of sanctions in international trade as a weapon of foreign policy would have been difficult to predict. The modern use of sanctions clauses would have been beyond comprehension.