Palmer | International Trade & Pre-Export Finance | Buch | 978-1-85564-673-5 | sack.de

Buch, Englisch, 149 Seiten

Palmer

International Trade & Pre-Export Finance


2. Auflage 1998
ISBN: 978-1-85564-673-5
Verlag: Euromoney

Buch, Englisch, 149 Seiten

ISBN: 978-1-85564-673-5
Verlag: Euromoney


The second edition of this practical book is the invaluable guide to successful trade finance. The book will help the practising trade financier and those seeking entrance into this field of finance to overcome problems encountered and understand the merits of this type of financing.

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.
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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


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