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.
Sustainability is one of the most used terms in the trade finance industry in 2023. While everyone knows what it means, and most know what the challenges are behind implementing sustainable actions, there is a clear issue with implementing tangible solutions.
As we bid farewell to 2023, it’s time to reflect on the dynamic landscape of global trade and finance. At Trade Finance Global (TFG), the past year has been marked… read more →
When the destination place is a terminal and the buyer is to collect the goods, then they will require a transport document showing them as the consignee/notify party.
Citi has announced a collaboration with Traydstream, a leading trade documentation solution provider, aiming to offer clients access to advanced and automated trade-document processing capabilities.
The overreaching arc of sanctions regulations is threatening the certainty of payments guaranteed by the smooth functioning of letters of credit (LC) in international trade. This tension recently played out in the Singapore courts in a judgment handed down recently (Kuvera Resources Pte Ltd v JPMorgan Chase Bank, N.A. [2023] SGCA 28).
The ISO 20022 format is a set of data and messaging that is integrated into an instant payment or any other cross-border transaction.
Today, the ICC DSI released their 2023 Key Trade Documents and Data Elements (KTDDE) report. The report outlines 14 key trade documents, going into depth on the definitions, purpose, and legal frameworks.
African Export and Import Bank (Afreximbank) has now established partnerships in its African Trade Facilitation Programme (AFTRAF) with over 80% of Africa’s commercial banks, according to the executive vice president of the Intra-African Trade Bank (IATB), Kanayo Awani.
Digital trade finance platform Contour has announced its closure, citing insufficient funding from its bank shareholders. Operations will cease on November 30, leaving users a brief window to complete transactions and download essential data.
