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1st Conference on Financial Instruments in Trade Finance, May 15, 2009

На 15 Май 2009

Място на провеждане

Raiffeisen Zentralbank Österreich AG Am Stadtpark 9, 1030 Vienna, Austria


1st Conference on Financial Instruments in Trade Finance

  • Forfaiting - risks and opportunities - Benefits for the Exporter - Commercial issues and legal solutions - strategic use Factoring - strategic use - factoring as financing alternation in times of economic crises - Factoring in the CEE RegionIFC Guarantees - Trade Finance Products offered by IFC
  • TSU – Trade Service Utility of SWIFT - LCs versus Open Account - Challenges of open account trade financing - TSU scope, functionalities and benefits

Forfaiting – is a versatile tool for importers and exporters used mainly with larger and large single contracts.

Forfaiting is a form of international supply chain financing. It involves the discount of future payment obligations on a without recourse basis. Forfaiting can be applied to a wide range of trade related and purely financial receivables. Although discounted receivables typically have maturities over medium terms of 3 to 5 years they can be as short as 6 months or as long as 10 years. Forfaiting is a flexible discounting technique that can be tailored to the needs of a wide range of counterparties and domestic and international transactions.

Factoring – (contrary to forfaiting) is used mainly in longer-term continually on-going business relationships. Cross-border Factoring is a financial service for exporters, generally undertaken on the basis of the so-called Two-Factor system. The Export Factor is dealing with financing, credit management, sales ledger accounting, or a combination of these - in the supplier's country. The Import Factor handles credit cover and collection in the buyer's territory. The established relationship between Export and Import Factors enables them to work effectively together in offering a total service to the end-user. The collection of payments and where necessary, legal action is undertaken by the Import Factor. Being present in the importer’s country, understanding the local customs puts the Import Factor in the best position to provide an effective service. Debtor credit rating is handled by the Import Factor.

IFC Guarantees – the IFC´s Global Trade Finance Program offers a critical, comprehensive risk mitigation tool to support trade finance in this time of crisis. GTFP offers confirming banks partial or full guarantees covering payment risk on banks in emerging markets for trade related transactions. These guarantees are transaction-specific and may be evidenced by a variety of underlying instruments such as: letters of credit, trade-related promissory notes, accepted drafts, bills of exchange, guarantees, bid and performance bonds and advance payment guarantees. The guarantees are available for all private sector trade transactions that meet IFC's eligibility criteria. Through the GTFP bank network, which now includes over 275 banks globally, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance on competitive, market-based terms.

TSU – Trade Servives Utility by SWIFT - Migration to open account has often left banks involved only at the settlement end of the transaction. Open account trading represents over 80% of all trading activity worldwide. In order to re-intermediate themselves, banks need to add value by extending their existing trade services to support broader supply chain integration. The Trade Services Utility (TSU) is a collaborative centralized matching utility that is designed to help banks meet the supply chain challenge. The TSU enables banks to offer complementary services to its corporate customers with international trade business. Cross-sold products will include financing, foreign exchange and treasury services.


Forfaiting – A versatile Tool for Importers and Exporters

  • What is Forfaiting?
  • Basic Requirements of Forfaiting
  • Benefits for the Exporter
  • Introduction to the Primary Forfaiting Market
  • IFA Guidelines for secondary sales
  • Market Practice Bulletins
  • Commercial issues and legal solutions
  • All about the International Forfaiting Association (IFA)

Factoring - international

  • strategic use of factoring
  • as a Mitigator of Risk (Credit insurance and Export)
  • Alternativ Financing in a difficult Environment
  • to reduce the Cash to Cash Cycle
  • legal aspects for cross-border operations
  • and the Development in CEE

Trade Finance Products of IFC – International Finance Corporation

  • Structure, operation & crisis response
  • Trade products covered (letters of credit, collections, guarantees)
  • Examples of transactions supported under the GTFP
  • Best use of IFC guarantees in practice

TSU – Trade Service Utility of SWIFT

  • Why TSU? – general trends in trade
  • Functionalities and Workflow
  • The TSU Bank Payment Obligation
  • Benefits for banks and corporates (example of supported products and services)
  • Status - The TSU community

Основни лектори и панелисти

  • Sean Edwards, UK, European Legal Counsel, Sumitomo Mitsui Banking Corp. Europe Ltd.; Co-Chairman, Market Practice Committee, International Forteiting Association (IFA) – London, author of the User’s Guide to the IFA Guidelines
  • Bonnie Galat, USA, Chief Trade Officer, Global Financial Markets Department of IFC; founding member and Global Head of Marketing and Risk Distribution for the $ 3 billion Global Trade Finance Program (GTFP)
  • Theodor Hiebler, Chairman & CEO, Intermarket Factoring Bank AG, Austria, Member of the IFC’s Executive Committee, Intermarket Bank Group is the leader in factoring in Central Europe
  • Urs Kern, Senior Manager, Trade for Europe, Middle East & Africa, SWIFT Scrl, Belgium. Before 2006 Manager at the IT and Management Consultancy Cap Gemini; more than 20 years experience with financial industry and corporate banking
  • Simon Peterman, Manager, Factoring, Raiffeisen International Goup HQ, prior to RI Manager of First Factoring Company in Serbia and Montenegro; Head, Commercial Dept. Prvi Faktor, Slovenia; underwriter at Slovenes Export Credit Agency
  • Gerhard Prenner, CEO Raiffeisen Factor Bank Bank, Austria,
  • Waltraud Raderschall, International Banker, Dresdner Bank AG, Germany; Board Member, International Forfeiting Association (IFA), chairing the IFA Market Practice Committee, Board Member, IFA German Regional Committee
  • Don Smith, Conference Chairman, Vice President, Client Services, Norman Technologies, USA; Chair, Banking Committee, US Council for Internat. Business; retired Vice President, Global Trade Product Management, Citibank, NY


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