7 trade finance terms you need to know!
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Topic: [ICO][ANN] 🌐 ENVOY - a decentralised trade finance marketplace 🌐 - page 3. (Read 2453 times)
September 12, 2018, 06:11:07 AM
September 12, 2018, 06:07:49 AM
Moreover, it is difficult to discover and investigate possible illegal supply chain connected activities such as counterfeiting, forced labour, poor conditions in factories, or revenues used to fund war crimes and criminal groups.
September 12, 2018, 06:06:01 AM
Sharing data between warehouses, manufacturers, shippers, buyers, sellers and financiers is often incredibly time-consuming, if not impossible
Disputes, then, inherently arise causing companies to engage in costly and time-consuming resolution procedures. September 12, 2018, 06:00:11 AM
Sharing data between warehouses, manufacturers, shippers, buyers, sellers and financiers is often incredibly time-consuming, if not impossible
September 12, 2018, 05:58:51 AM
Current trade finance platforms are not interoperable, with most parties keeping private and paper-heavy ledgers.
This leads not only to invoice fraud, as outlined above, but also obfuscates much of the supply chains that feed from trade finance. September 12, 2018, 05:58:36 AM
Current trade finance platforms are not interoperable, with most parties keeping private and paper-heavy ledgers.
September 12, 2018, 05:57:29 AM
As the industry grows, and as regulatory demands increase, the costs to strengthen compliance and set in place provisions for effective risk management are expected to follow suit
In turn, this will make it harder and more expensive for businesses to access finance, in particular affecting SMEs who constitute 20% of US and 40% of EU exports**, and who have more than 50% of their trade finance requests rejected. September 12, 2018, 03:18:58 AM
The subversive trading space built for better global trade is equipped with a block chain. Good luck, guys!!!!
September 11, 2018, 12:13:20 PM
As the industry grows, and as regulatory demands increase, the costs to strengthen compliance and set in place provisions for effective risk management are expected to follow suit
September 11, 2018, 12:12:55 PM
JP Morgan claims that Fortune 500 companies spend no less than $81 billion* annually on unnecessary working capital and supply chain costs due to trade finance activities, requiring about 36 original documents, 240 copies and the involvement of 27 entities.
September 08, 2018, 07:26:19 PM
The effects of duplicate invoicing fraud are far reaching: banks have to write off millions of dollars leading to conservative future investment; buyers, unlikely to receive goods, have their commitments affected
Suppliers are faced with higher interest rates as financiers have to recoup losses; insurers may have to cover the cost of claims, leading to higher premiums. September 08, 2018, 07:25:41 PM
The effects of duplicate invoicing fraud are far reaching: banks have to write off millions of dollars leading to conservative future investment; buyers, unlikely to receive goods, have their commitments affected
September 08, 2018, 04:42:19 AM
One of the major risks in international trade finance is the creation of duplicate invoices
As most financiers maintain independent ledgers, fraudsters can present invoices to various creditors and secure multiple loans on the same goods without the banks finding out. September 08, 2018, 04:41:52 AM
One of the major risks in international trade finance is the creation of duplicate invoices
September 06, 2018, 12:19:38 PM
By following this project, let's see if the team can really do what they have planned for this one. I am very interested to be part of this project.
September 06, 2018, 10:57:24 AM
Trade finance is ripe . But, I think this project will be hamstrung by using Ethereum blockchain for its architecture. It won't be able to process the amount of trades it has to per day without clogging the ledger and making the process inefficient. Primary target of SMEs is not going to grow the platform to take advantage of first mover status.
September 06, 2018, 08:04:06 AM
As with any investment, trade finance comes coated in risk. With current processes still handled manually, all parties involved are opened up to issues of fraud and simple human error
An often cited example is the $1.1 billion lawsuit brought against Citigroup by Rabobank Groep* (as well as other creditors and investors) after it emerged that the American corporation had falsified receivables. September 06, 2018, 08:01:00 AM
As with any investment, trade finance comes coated in risk. With current processes still handled manually, all parties involved are opened up to issues of fraud and simple human error
An often cited example is the $1.1 billion lawsuit brought against Citigroup by Rabobank Groep* (as well as other creditors and investors) after it emerged that the American corporation had falsified receivables. September 06, 2018, 07:56:58 AM
As with any investment, trade finance comes coated in risk. With current processes still handled manually, all parties involved are opened up to issues of fraud and simple human error
September 06, 2018, 05:01:20 AM
Small businesses face the biggest obstacles to access to finance. This takes place in both developed and developing countries.
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