Sponsored
  • How To Get A Letter Of Credit From A Bank To Import Goods From Overseas

    Applying for a letter of credit (LC) with a bank for overseas transactions can be a complex process, but with careful planning and attention to detail, it can be a smooth and successful experience. An LC is a payment guarantee letter issued by a bank that guarantees payment to the seller for goods or services delivered to the buyer. Here are the steps to apply for an LC with a bank for overseas transactions.

    Identify the Need for an LC: The first step is to determine whether an LC is needed for the overseas transaction. An LC provides a guarantee to the seller that they will receive payment, which can help to mitigate the risk of non-payment and secure the transaction.

    Choose a Bank: The next step is to choose a bank that will offer a letter of credit service. Look for a bank that has experience with international trade and a good reputation in the global trade community.

    Submit an Application: Submit an application to the bank for an LC. The application will typically require detailed information about the transaction, including the amount, currency, and terms of the LC.

    Provide Required Documentation: The bank will require documentation to support the LC application, such as the purchase agreement, invoices, and shipping documents. Ensure that all documentation is accurate and complies with the terms of the LC.

    Read more: https://www.axioscreditbank.com/blogs/how-to-get-a-letter-of-credit-from-a-bank-to-import-goods-from-overseas

    #letterofcredit #internationaltrade #paymentguaranteeletter #revocableLC #bankguarantees #standbyLC
    How To Get A Letter Of Credit From A Bank To Import Goods From Overseas Applying for a letter of credit (LC) with a bank for overseas transactions can be a complex process, but with careful planning and attention to detail, it can be a smooth and successful experience. An LC is a payment guarantee letter issued by a bank that guarantees payment to the seller for goods or services delivered to the buyer. Here are the steps to apply for an LC with a bank for overseas transactions. Identify the Need for an LC: The first step is to determine whether an LC is needed for the overseas transaction. An LC provides a guarantee to the seller that they will receive payment, which can help to mitigate the risk of non-payment and secure the transaction. Choose a Bank: The next step is to choose a bank that will offer a letter of credit service. Look for a bank that has experience with international trade and a good reputation in the global trade community. Submit an Application: Submit an application to the bank for an LC. The application will typically require detailed information about the transaction, including the amount, currency, and terms of the LC. Provide Required Documentation: The bank will require documentation to support the LC application, such as the purchase agreement, invoices, and shipping documents. Ensure that all documentation is accurate and complies with the terms of the LC. Read more: https://www.axioscreditbank.com/blogs/how-to-get-a-letter-of-credit-from-a-bank-to-import-goods-from-overseas #letterofcredit #internationaltrade #paymentguaranteeletter #revocableLC #bankguarantees #standbyLC
    0 Comments 0 Shares 915 Views
  • How do specialised Trade Finance companies differ from Banks

    Exporters are increasingly running into cash flow issues as payment cycles lengthen and more importers seek credit terms on payment. If your funds are held up, you won't be able to pay your vendors on time or stock up on materials for future orders. This could stifle expansion and potential, ultimately detrimental to your export business's success.

    Exporters often use bank loans to bridge this funding gap. However, bank lines are unsuitable for Trade Finance Service due to the following reasons:

    Collateralized:

    When you apply for a loan from a bank, they will want you to provide tangible collateral, such as a piece of property or some machinery. You won't be able to have access to bank lines if you don't have any collateral to put up.

    Limited:

    There is a direct correlation between the value of your fixed assets and the quantity of financing you may get from a bank. However, companies often have sales that are much beyond their fixed assets and need more capital to export their surplus through traditional banking channels. In addition, you'll need access to your locked-up working capital during peak seasons when you may be experiencing additional demand, but banks will only extend your facility.

    Read more: https://emeriobanque.medium.com/how-do-specialised-trade-finance-companies-differ-from-banks-69b096d48843

    #InternationalTradefinance #financialinstitutions #LetterofCredit #BankGuarantee #TradeFinanceService
    How do specialised Trade Finance companies differ from Banks? Exporters are increasingly running into cash flow issues as payment cycles lengthen and more importers seek credit terms on payment. If your funds are held up, you won't be able to pay your vendors on time or stock up on materials for future orders. This could stifle expansion and potential, ultimately detrimental to your export business's success. Exporters often use bank loans to bridge this funding gap. However, bank lines are unsuitable for Trade Finance Service due to the following reasons: Collateralized: When you apply for a loan from a bank, they will want you to provide tangible collateral, such as a piece of property or some machinery. You won't be able to have access to bank lines if you don't have any collateral to put up. Limited: There is a direct correlation between the value of your fixed assets and the quantity of financing you may get from a bank. However, companies often have sales that are much beyond their fixed assets and need more capital to export their surplus through traditional banking channels. In addition, you'll need access to your locked-up working capital during peak seasons when you may be experiencing additional demand, but banks will only extend your facility. Read more: https://emeriobanque.medium.com/how-do-specialised-trade-finance-companies-differ-from-banks-69b096d48843 #InternationalTradefinance #financialinstitutions #LetterofCredit #BankGuarantee #TradeFinanceService
    EMERIOBANQUE.MEDIUM.COM
    How do specialised Trade Finance companies differ from Banks?
    Exporters are increasingly running into cash flow issues as payment cycles lengthen and more importers seek credit terms on payment. If…
    0 Comments 0 Shares 1429 Views
  • 3 Common Types of Trade Finance Products Explained

    There are several definitions of trade finance available online, and the terminology employed is intriguing. It is characterised as a "science" and "an imprecise term covering a variety of different activities." Both are correct, as is the nature of these things. Managing the money required for international trade is a precise science. However, within this science, Trade Finance Service has access to a vast range of tools that affect how cash, credit, investments, and other assets can be used for trade.

    Common Types of Trade Finance Products:

    1. Letter of Credit

    A letter of credit is a payment pledge provided by a bank on behalf of the importing client. It's a common trade finance document that you should be familiar with. Essentially, it is a commitment by the bank to pay the exporter the money within a specified time frame and under the terms and circumstances agreed upon.

    It enables sellers and buyers to mitigate some of the inherent hazards of international trade, including currency fluctuations, non-payment, and economic instability.

    2. Purchase Order (PO) Finance

    Purchase Order (PO) financing is intended for SMEs that are experiencing inefficiency in their cash flow. To put it simply, it gives funds to pay suppliers with the validated purchase order in order to ensure seamless cash flow. It enables firms to accept a huge volume of orders while adjusting the lending basis to match their specific requirements.

    This is especially true for SMEs, who frequently get a significant amount of orders but lack the necessary working capital to process them. That is exactly what it does. Even if the volume of orders reduces, there are no ties, so you can quit using it whenever you want.

    Read more: https://www.emeriobanque.com/blogs/3-common-types-of-trade-finance-products-explained

    #Tradefinance #letterofcredit #BankGuarantee #supplychainfinance #SMEs #internationaltrade
    3 Common Types of Trade Finance Products Explained There are several definitions of trade finance available online, and the terminology employed is intriguing. It is characterised as a "science" and "an imprecise term covering a variety of different activities." Both are correct, as is the nature of these things. Managing the money required for international trade is a precise science. However, within this science, Trade Finance Service has access to a vast range of tools that affect how cash, credit, investments, and other assets can be used for trade. Common Types of Trade Finance Products: 1. Letter of Credit A letter of credit is a payment pledge provided by a bank on behalf of the importing client. It's a common trade finance document that you should be familiar with. Essentially, it is a commitment by the bank to pay the exporter the money within a specified time frame and under the terms and circumstances agreed upon. It enables sellers and buyers to mitigate some of the inherent hazards of international trade, including currency fluctuations, non-payment, and economic instability. 2. Purchase Order (PO) Finance Purchase Order (PO) financing is intended for SMEs that are experiencing inefficiency in their cash flow. To put it simply, it gives funds to pay suppliers with the validated purchase order in order to ensure seamless cash flow. It enables firms to accept a huge volume of orders while adjusting the lending basis to match their specific requirements. This is especially true for SMEs, who frequently get a significant amount of orders but lack the necessary working capital to process them. That is exactly what it does. Even if the volume of orders reduces, there are no ties, so you can quit using it whenever you want. Read more: https://www.emeriobanque.com/blogs/3-common-types-of-trade-finance-products-explained #Tradefinance #letterofcredit #BankGuarantee #supplychainfinance #SMEs #internationaltrade
    WWW.EMERIOBANQUE.COM
    3 Common Types of Trade Finance Products Explained
    Trade finance products can help businesses manage the cost of their imports and exports. Learn about the three most common types of trade finance products.
    0 Comments 0 Shares 1449 Views
  • With the debt of €5.2m Marco Polo Network Operations declared as insolvent!

    Marco Polo Network Operations is the Irish company and appointed administrators as per the declaration of court ruling that declared the company to be insolvent on 22nd Feb 2023. Marco Polo Network proposed to close the strategic deal of $12 million with Bank of America.

    The court heard that Marco Polo Network possesses a debt of €5.2 million and their current liabilities are more than €2.5 million. It is also claimed by Marco Polo Network that the significant investment for making a product to replace the internal account automation of Bank of America. It is a crucial step for investment in Bank of America, as heard by a court ruling.

    After the collapse of we.trade after 9 months, along with Serai, HSBC is also backing the trade platform which is blockchain-based, serious questions are also raised around commercial viability.

    Read more: https://www.emeriobanque.com/news/marco-polo-declared-insolvent-52m-debts

    #BankofAmerica #MarcoPolo #HSBC #investment #tradeplatform #internationaltradefinance #blockchaintechnology
    With the debt of €5.2m Marco Polo Network Operations declared as insolvent! Marco Polo Network Operations is the Irish company and appointed administrators as per the declaration of court ruling that declared the company to be insolvent on 22nd Feb 2023. Marco Polo Network proposed to close the strategic deal of $12 million with Bank of America. The court heard that Marco Polo Network possesses a debt of €5.2 million and their current liabilities are more than €2.5 million. It is also claimed by Marco Polo Network that the significant investment for making a product to replace the internal account automation of Bank of America. It is a crucial step for investment in Bank of America, as heard by a court ruling. After the collapse of we.trade after 9 months, along with Serai, HSBC is also backing the trade platform which is blockchain-based, serious questions are also raised around commercial viability. Read more: https://www.emeriobanque.com/news/marco-polo-declared-insolvent-52m-debts #BankofAmerica #MarcoPolo #HSBC #investment #tradeplatform #internationaltradefinance #blockchaintechnology
    WWW.EMERIOBANQUE.COM
    With the debt of €5.2m Marco Polo Network Operations declared as insolvent!
    With the debt of €5.2m Marco Polo Network Operations declared as insolvent! Marco Polo Network proposed to close the strategic deal of $12 million with Bank of America.
    0 Comments 0 Shares 1172 Views
  • Commercial Bank Wins ‘Best Trade Finance Provider’ 2023 in Qatar

    As per the latest news, Commercial Bank, the most innovative digital bank in Qatar has been honored with the “Best Trade Finance Provider in Qatar” by Global Finance for the fourth consecutive year. Global Finance is the world’s major publication that acknowledges distinct contributions to the financial industry. This award recognizes Commercial Bank’s outstanding performance in the trade finance sector and its constant dedication to delivering top-notch financial products and services to its clients. The Bank has been successfully maintaining its position as the “Best Bank In Qatar 2021” by Global Finance.

    Trade finance plays an essential role in Commercial Bank’s business tactics, and the Bank has a well-established proven track record of enabling its clients to navigate the intricacies of international trade and minimize risks. The reason behind the Commercial Bank’s success in trade finance is none other than its commitment to innovation and its emphasis on delivering the best possible financial products and services to its clients. The Bank is dedicated to searching for opportunities to improve its trade finance offerings and fulfilling the advanced requirements of its clients.

    Read more: https://www.emeriobanque.com/news/commercial-bank-in-qatar-wins-best-trade-finance-provider-2023

    #CommercialBank #BestTradeFinanceProviderinQata #financialproducts #internationaltrade #tradefinance
    Commercial Bank Wins ‘Best Trade Finance Provider’ 2023 in Qatar As per the latest news, Commercial Bank, the most innovative digital bank in Qatar has been honored with the “Best Trade Finance Provider in Qatar” by Global Finance for the fourth consecutive year. Global Finance is the world’s major publication that acknowledges distinct contributions to the financial industry. This award recognizes Commercial Bank’s outstanding performance in the trade finance sector and its constant dedication to delivering top-notch financial products and services to its clients. The Bank has been successfully maintaining its position as the “Best Bank In Qatar 2021” by Global Finance. Trade finance plays an essential role in Commercial Bank’s business tactics, and the Bank has a well-established proven track record of enabling its clients to navigate the intricacies of international trade and minimize risks. The reason behind the Commercial Bank’s success in trade finance is none other than its commitment to innovation and its emphasis on delivering the best possible financial products and services to its clients. The Bank is dedicated to searching for opportunities to improve its trade finance offerings and fulfilling the advanced requirements of its clients. Read more: https://www.emeriobanque.com/news/commercial-bank-in-qatar-wins-best-trade-finance-provider-2023 #CommercialBank #BestTradeFinanceProviderinQata #financialproducts #internationaltrade #tradefinance
    WWW.EMERIOBANQUE.COM
    Commercial Bank Wins ‘Best Trade Finance Provider’ 2023 in Qatar
    Commercial Bank has been honored with the Best Trade Finance Provider in Qatar by Global Finance for its exceptional performance in trade finance. Know more.
    0 Comments 0 Shares 375 Views
  • All You Need To Know About Trade Finance Gap: Find Effects on SMEs

    The pandemic has hurt trade and highlighted a requirement to make productive changes in trade finance service to bridge the gap in the number of those who need it and those receiving it.

    Recently, the USD 1.5 trade finance gap was reported by the Asian Development Bank in 2019 during the Covid pandemic. Besides this, the Manila-based multilateral institution’s latest Trade Finance Gaps, Growth, and Jobs Survey, included 79 banks from 43 countries and 469 firms from 72 nations. Its findings reveal the extent to which this trade finance gap is disrupting the full utilization of trade to facilitate growth, employment, and poverty reduction during the sudden outbreak of the global pandemic.

    All this data efficiently demonstrates the lack of accessibility of global trade finance instruments and the disproportionate impact of a lack of funds on emerging markets businesses, especially SMEs (small- and medium-sized enterprises). However, what trade finance gap exactly, why does it matter, and how can it be decreased or controlled

    What is the Trade Finance Gap

    The trade finance gap is the difference between the trade finance requests made by businesses around the world to empower sales of their goods & services and the actual amount of financial assistance that banks are willing to grant or able to provide. In other words, it is the difference between the supply & demand of trade finance services.

    Read more: https://www.emeriobanque.com/blogs/trade-finance-gap-and-its-effects-on-smes

    #internationaltradefinanceservices #AsianDevelopmentBank #globaltradefinanceinstruments #internationaltradefinanceinstruments #tradefinanceservice #SMEs
    All You Need To Know About Trade Finance Gap: Find Effects on SMEs The pandemic has hurt trade and highlighted a requirement to make productive changes in trade finance service to bridge the gap in the number of those who need it and those receiving it. Recently, the USD 1.5 trade finance gap was reported by the Asian Development Bank in 2019 during the Covid pandemic. Besides this, the Manila-based multilateral institution’s latest Trade Finance Gaps, Growth, and Jobs Survey, included 79 banks from 43 countries and 469 firms from 72 nations. Its findings reveal the extent to which this trade finance gap is disrupting the full utilization of trade to facilitate growth, employment, and poverty reduction during the sudden outbreak of the global pandemic. All this data efficiently demonstrates the lack of accessibility of global trade finance instruments and the disproportionate impact of a lack of funds on emerging markets businesses, especially SMEs (small- and medium-sized enterprises). However, what trade finance gap exactly, why does it matter, and how can it be decreased or controlled? What is the Trade Finance Gap? The trade finance gap is the difference between the trade finance requests made by businesses around the world to empower sales of their goods & services and the actual amount of financial assistance that banks are willing to grant or able to provide. In other words, it is the difference between the supply & demand of trade finance services. Read more: https://www.emeriobanque.com/blogs/trade-finance-gap-and-its-effects-on-smes #internationaltradefinanceservices #AsianDevelopmentBank #globaltradefinanceinstruments #internationaltradefinanceinstruments #tradefinanceservice #SMEs
    WWW.EMERIOBANQUE.COM
    Trade Finance Gap & its Effects on SMEs
    Amid the Covid pandemic, SMEs have been adversely impacted in accessing global trade finance services, leading to a trade finance gap. Know about the trade finance gap in detail.
    0 Comments 0 Shares 1590 Views
  • India-UK To Discuss 6th Round Of Talks On Free Trade Agreement From Today

    As per the recent news, UK trade secretary Kemi Badenoch will arrive in New Delhi today December 12th to conduct her first in-person meeting with Indian counterpart Piyush Goyal over UK-India free trade agreement (FTA). These two Indian and British negotiators are going to sit down and continue the sixth round of negotiations for a free trade agreement.

    The new round signifies the first formal arrangement between the India-UK negotiating teams since July and the first since Rishi Sunak assumed control as British Prime Minister.

    Remarking the International trade minister Kemi Badenoch, performing the negotiations for the UK, the UK high commission stated, “Badenoch will encounter her counterpart commerce and Industry Minister Piyush Goyal face to face for the first time.”

    Former British Prime Minister Boris Johnson in April announced an aspiring target to agree on an FTA with India by Diwali in October. But with his resignation in July and the political mess in the UK, the deadline was missed.

    New Prime Minister Rishi Sunak stated his commitment to initiating a deal with India without compromising on quality for speed, as per reports.

    Read more: https://www.emeriobanque.com/news/india-uk-to-discuss-free-trade-agreement-from-today

    #UKIndiafreetradeagreement #freetradeagreement #financial #UKIndiatrade #InternationalTrade
    India-UK To Discuss 6th Round Of Talks On Free Trade Agreement From Today As per the recent news, UK trade secretary Kemi Badenoch will arrive in New Delhi today December 12th to conduct her first in-person meeting with Indian counterpart Piyush Goyal over UK-India free trade agreement (FTA). These two Indian and British negotiators are going to sit down and continue the sixth round of negotiations for a free trade agreement. The new round signifies the first formal arrangement between the India-UK negotiating teams since July and the first since Rishi Sunak assumed control as British Prime Minister. Remarking the International trade minister Kemi Badenoch, performing the negotiations for the UK, the UK high commission stated, “Badenoch will encounter her counterpart commerce and Industry Minister Piyush Goyal face to face for the first time.” Former British Prime Minister Boris Johnson in April announced an aspiring target to agree on an FTA with India by Diwali in October. But with his resignation in July and the political mess in the UK, the deadline was missed. New Prime Minister Rishi Sunak stated his commitment to initiating a deal with India without compromising on quality for speed, as per reports. Read more: https://www.emeriobanque.com/news/india-uk-to-discuss-free-trade-agreement-from-today #UKIndiafreetradeagreement #freetradeagreement #financial #UKIndiatrade #InternationalTrade
    WWW.EMERIOBANQUE.COM
    India-UK To Discuss 6th Round Of Talks On Free Trade Agreement From Today
    UK trade secretary Kemi Badenoch will arrive in New Delhi on December 12th to meet with Indian counterpart Piyush Goyal over the UK-India free trade agreement (FTA).
    0 Comments 0 Shares 340 Views
  • Global Trade Management Market Report 2022

    As per the latest report, the global trade management market size is expected to demonstrate a shift to USD 1.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.0% from 2021 to 2026. The major factors which are gearing up the trade management market include a surged volume of international trade, rising trend of digitization, legal guidelines, and compliances, to fuel the development of the trade management market worldwide during the forecast period.

    Services To Develop At A Higher CAGR During The Forecast Period

    Trade management services are essential to ensure the appropriate incorporation of trade management solutions with the complex network infrastructure established in an organization. Trade management services make sure that various trade solutions execute smoothly over a period by closely monitoring, maintaining, and improving the vital aspects of trade management solutions. It also boosts the international supply chain by automating and organizing trade processes, managing control costs, decreasing the probabilities of penalties and fines, and clearing customs quicker. The determining services for this report include counseling, execution and integration and support as well as maintenance.

    Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/global-trade-management-market-report-2022

    #GlobalTradeManagement #internationaltrade #DigitalizationandIncreasing #supplychain #Ngulminthang #NgulminthangLhanghal
    Global Trade Management Market Report 2022 As per the latest report, the global trade management market size is expected to demonstrate a shift to USD 1.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.0% from 2021 to 2026. The major factors which are gearing up the trade management market include a surged volume of international trade, rising trend of digitization, legal guidelines, and compliances, to fuel the development of the trade management market worldwide during the forecast period. Services To Develop At A Higher CAGR During The Forecast Period Trade management services are essential to ensure the appropriate incorporation of trade management solutions with the complex network infrastructure established in an organization. Trade management services make sure that various trade solutions execute smoothly over a period by closely monitoring, maintaining, and improving the vital aspects of trade management solutions. It also boosts the international supply chain by automating and organizing trade processes, managing control costs, decreasing the probabilities of penalties and fines, and clearing customs quicker. The determining services for this report include counseling, execution and integration and support as well as maintenance. Read more: https://ngulminthanglhangh.wixsite.com/ngulminthanglhanghal/post/global-trade-management-market-report-2022 #GlobalTradeManagement #internationaltrade #DigitalizationandIncreasing #supplychain #Ngulminthang #NgulminthangLhanghal
    NGULMINTHANGLHANGH.WIXSITE.COM
    Global Trade Management Market Report 2022
    Global trade management market report 2022 covers the emerging trend of digitalization & increasing volume of international trade driving growth. Take a look.
    0 Comments 0 Shares 501 Views
  • ANEXT Bank’s Soft Launch Drives Fintech For SMEs

    As per the latest news, ANEXT Bank, a digital wholesale bank established in Singapore and an entirely owned subsidiary of Ant Group, reported its soft launch today. This soft launch is followed by its receipt of MAS’s acceptance to start its business operations on 2nd June 2022. The newly announced Singapore-based digital bank is all set to provide its digital financial services to local and regional MSMEs, especially those who are engaged in international trade and looking for development and worldwide extension. No doubt that fintechs are important for small exporters.

    Remarking on the soft launch, Ms. Toh Su Mei, the Chief Executive Officer of ANEXT Bank and an expert in finance & banking for over 20 years, stated, “We think that this is the need of the hour to introduce modern & advanced financial services that can be easily accessed and easier for developing organizations. In an era where the digital economy is increasing at a fast pace, business standards are changing and adopting digital technologies as its priority, if not considering a hybrid model. Financial services need transforming and are where SMEs are operating their business activities digitally. ”

    “We are capable enough to fulfill our aforesaid vision, utilizing Ant Group’s profound position of technologies and knowledge, along with our client-oriented local team dedicated to facilitating the SME community. By considering our open and collaborative methodologies, we are thinking of associating with industry partners and the public sector to deliver SMEs with digital financial services that are easier, secure, and more fruitful,” she added.

    Read more: https://www.emeriobanque.com/news/anext-banks-soft-launch-drives-fintech-for-smes

    #ANEXTBank #SMEs #digitalfinancialservices #fintechs #internationaltrade #tradefinance #tradeSMEs
    ANEXT Bank’s Soft Launch Drives Fintech For SMEs As per the latest news, ANEXT Bank, a digital wholesale bank established in Singapore and an entirely owned subsidiary of Ant Group, reported its soft launch today. This soft launch is followed by its receipt of MAS’s acceptance to start its business operations on 2nd June 2022. The newly announced Singapore-based digital bank is all set to provide its digital financial services to local and regional MSMEs, especially those who are engaged in international trade and looking for development and worldwide extension. No doubt that fintechs are important for small exporters. Remarking on the soft launch, Ms. Toh Su Mei, the Chief Executive Officer of ANEXT Bank and an expert in finance & banking for over 20 years, stated, “We think that this is the need of the hour to introduce modern & advanced financial services that can be easily accessed and easier for developing organizations. In an era where the digital economy is increasing at a fast pace, business standards are changing and adopting digital technologies as its priority, if not considering a hybrid model. Financial services need transforming and are where SMEs are operating their business activities digitally. ” “We are capable enough to fulfill our aforesaid vision, utilizing Ant Group’s profound position of technologies and knowledge, along with our client-oriented local team dedicated to facilitating the SME community. By considering our open and collaborative methodologies, we are thinking of associating with industry partners and the public sector to deliver SMEs with digital financial services that are easier, secure, and more fruitful,” she added. Read more: https://www.emeriobanque.com/news/anext-banks-soft-launch-drives-fintech-for-smes #ANEXTBank #SMEs #digitalfinancialservices #fintechs #internationaltrade #tradefinance #tradeSMEs
    WWW.EMERIOBANQUE.COM
    ANEXT Bank’s Soft Launch Drives Fintech For SMEs
    Anext bank announces its soft launch as Singapore's newest digital wholesale bank to accelerate digital financial services to local and regional MSMEs. Know more.
    0 Comments 0 Shares 431 Views
  • Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade

    “The $18 trillion-plus international trade market is one of those last industries that are resistant to digital transformation in the financial & banking operations. For example, Letters of Credit are issued in physical form to date which is a time-consuming process that takes weeks to get issued. Contour, in this regard, digitizes LC through its decentralized network that operates on distributed ledger technology, cutting back time & costs while assuring that all the parties stay in sync. This way, Contour is genuinely transforming global trade and making it more efficient, bringing up more opportunities for attracting businesses in different corners of the world.”

    Globalization relies on banks and corporations adapting digital advancements to transform the trade finance sector. Eliminating structural and financial constraints on global trade attracts more businesses to invest and build a strengthened, interconnected global economy.

    International transactions between importers-exporters are more complex than face-to-face exchanges due to distance, and national borders. On one hand, importers want to receive goods even before paying for them while on other hand, exporters want payment surety in full before delivering goods. Not even instant payments can ensure global trades on those terms.

    Read more: https://www.emeriobanque.com/news/contour-digitizing-letters-of-credit-in-global-trade

    #tradefinance #internationaltrademarket #LettersofCredit #globaltrade #tradefinance #Contour #DLT
    Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade “The $18 trillion-plus international trade market is one of those last industries that are resistant to digital transformation in the financial & banking operations. For example, Letters of Credit are issued in physical form to date which is a time-consuming process that takes weeks to get issued. Contour, in this regard, digitizes LC through its decentralized network that operates on distributed ledger technology, cutting back time & costs while assuring that all the parties stay in sync. This way, Contour is genuinely transforming global trade and making it more efficient, bringing up more opportunities for attracting businesses in different corners of the world.” Globalization relies on banks and corporations adapting digital advancements to transform the trade finance sector. Eliminating structural and financial constraints on global trade attracts more businesses to invest and build a strengthened, interconnected global economy. International transactions between importers-exporters are more complex than face-to-face exchanges due to distance, and national borders. On one hand, importers want to receive goods even before paying for them while on other hand, exporters want payment surety in full before delivering goods. Not even instant payments can ensure global trades on those terms. Read more: https://www.emeriobanque.com/news/contour-digitizing-letters-of-credit-in-global-trade #tradefinance #internationaltrademarket #LettersofCredit #globaltrade #tradefinance #Contour #DLT
    WWW.EMERIOBANQUE.COM
    Contour’s Decentralized Network Digitizing Letters of Credit in Global Trade
    Contour's digital Letter of Credit works on a decentralized network based on DLT (Digital Ledger Technology) to streamline & smooth trade finance operations. Know more.
    0 Comments 0 Shares 516 Views
More Results
Sponsored

Instant Money Transfers - Open Free Account

Mobile Money made easy, all currencies

Sponsored