2020 marks the 21st anniversary of the Certificate for Documentary Credit Specialists (CDCS). LIBF’s experts in trade finance – Mike Backhouse, Alex Gray and David Morrish – explain why the… read more →

The London Institute of Banking & Finance (LIBF), the Bankers Association for Finance and Trade (BAFT) and the International Chamber of Commerce (ICC) are celebrating the 21st birthday of the… read more →

Geneva, 2nd December 2019. Today, at the WTO’s ‘Global Trade and Blockchain Forum’, ICC, TFG and WTO released a white paper combining over 200 responses from banks, corporates, fintechs and associations in the trade sector, as well as over 20 consortia, on the broader impact that distributed ledger technology (DLT) is having on the trade industry.

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 →

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).

The ICC Uniform Rules for Collections (URC522) Supplement for Electronic Presentation (eURC). On 1 July 2019, the revised internet eRules and guidelines for online trade finance documentary collections came into effect for banks, importers, exporters, and freight forwarders to prepare and present electronic records for documentary collections in lieu of or in conjunction with paper documents.

AGTB: New kid on the block. TFG heard from Daniel Gould, Deputy CEO of Anglo Gulf Trade Bank, and its new digital offering for trade finance in the UAE and MENA region. Building a trade bank from scratch without relying on legacy technologies has enabled AGTB to reimagine trade finance, building a competitive product for the corporate banking space.

On 1 July 2019, the long-awaited revised internet eRules and guidelines for online trade finance finally arrived for banks, importers, exporters, freight forwarders, chambers of commerce, customs brokers, logistics companies and carriers, to prepare and present electronic records for documentary letters of credit in lieu of or in conjunction with paper documents.

Before 2019, Sibos made its last appearance in the UK in Brighton, 1985. So, what was the world like in 1985? TFG’s Ross McKenzie reports on the trade themes of Sibos 2019.

The EBRD’s Trade Facilitation Programme (TFP) was developed to promote and facilitate international trade to, from and within economies where the EBRD invests. Under the TFP, guarantees are provided to international commercial banks (confirming banks), thereby covering the political and commercial payment risk of transactions undertaken by issuing banks. Since the TFP programme was initiated in 1999 the EBRD has financed more than 24,000 transactions for a total of more than €19 billion.