Trade Finance Global (TFG), in collaboration with UK Export Finance and the Department for Business & Trade, is set to host a tradecast on 13th September 2023, one week before the Electronic Trade Documents Act (ETDA) comes into force. 

Does a New York court have jurisdiction over an Indian collecting bank that is alleged to have violated the Uniform Rules for Collections (URC 522) for neither collecting and remitting funds to pay for shipments represented by the documents forwarded to it nor returning originals of several of the documents sent to it for collection? 

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 a bid to enhance access to trade for micro, small, and medium-sized businesses (MSMEs), the World Trade Board has recently launched the ‘Financial Inclusion in Trade Roadmap’. The roadmap, developed through collaboration with major industry bodies and international stakeholders, seeks to address the challenges faced by MSMEs to accelerate their participation in global trade.

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.

Despite the widespread ‘backlash’ against ISDS, originating primarily in academia, ISDS offers important procedural protections for foreign investors and should be retained in Free FTAs.

The House of Commons recently released a research summary of the Electronic Trade Documents Bill (ETDB), marking yet another step towards the bill becoming an enshrined law in the summer… read more →

The Basel regulations have been continuously refined and updated to address new risks and challenges in the global banking sector, with the overall aim of promoting financial stability and preventing future crises.

While at the ITFA and BCR: Trade & Investment Forum 2023, Trade Finance Global’s Deepesh Patel was happy to sit down and talk to Lord Holmes of Richmond MBE to discuss what the UK government is doing to support this digital transition.

DLT offers the financial services industry a new piece of infrastructure to push the boundaries of Open Banking. But it doesn’t come without its challenges. TFG heard from tradetech expert André Casterman on future use cases for blockchain in assets, trade and transaction banking.