Buch, Englisch, 149 Seiten
ISBN: 978-1-85564-673-5
Verlag: Euromoney
Across nine chapters it details practical issues involved in the successful use of trade finance techniques including:
ECA financing,
guarantees,
LCs,
standby LCs,
structured LC transactions,
trade finance and pre-export financing,
forfaiting,
countertrade,
tolling, and
fraud detection and avoidance.
The new edition features expanded coverage of structured trade finance, and details ten simple methods to avoid fraud. There are also a number of standard documentation specimens including a variety of letters of credit, forfaiting terms, and escrow agreements.
Autoren/Hrsg.
Fachgebiete
Weitere Infos & Material
International Trade and Pre-export Finance
Contents
List of figures ix
Acknowledgements xi
The author xiii
Author’s foreword xv
Preface xvii
Chapter 1: What is trade finance? 21
Contemporary characteristics of trade finance 25
Exit routes 28
Value-impaired debt 29
Chapter 2: The real problem 31
Financing and risk entry points 31
Working capital or real trade finance? 33
The contemporary approach 36
Who is financing the transaction? 38
Chapter 3: Types of generic letters of credit 41
The essential nature of definition 41
Payment, acceptance and negotiation mechanisms 46
The deferred payment L/C 52
Chapter 4: Standby letters of credit 55
Introduction 55
Dos and don’ts 58
Chapter 5: Structured letter of credit transactions 73
The back-to-back letter of credit 73
Risk in back-to-back financing and risk mitigation techniques 80
Analysing the trader 85
Chapter 6: A transactional analysis of trade finance
and pre-export financing 89
Transactional, operational and strategic stances 89
Duplex transactions 94
What kind of bank are you? 96
Chapter 7: The forfaiters and syndications 99
Introduction and traditional mechanics 99
The new forfaiters 104
Forfaiting the deferred payment letter of credit 107
Yesterday’s capital markets 109
Chapter 8: Pre-export financing and tolling 113
The new countertrade 113
The mechanics of Red Clause letters of credit 118
Tolling transactions 120
Buy-back mechanics in high-risk countries 127
Green Clause letters of credit 128
Escrow account financing 130
Beneficiary risk 136
Chapter 9: Ten simple steps to avoid fraud 139
Large amounts are unbankable 139
Returns too high for the market 141
The promise of prime bank names 142
Over-complication of L/C terms 142
No underlying real trade 142
Beware of fashionable commodities 144
New traders 144
The reality of the deal 145
Crocodile 145
Due diligence 147
