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Evolution Credit Partners, an alternative credit manager, has launched a trade credit protection (TCP) programme to protect sellers and their related account receivables against non-payment or bankruptcy of buyers. Evolution, which launched in April 2018 after spinning out from Harvard Management Company, has approximately US$2.5bn in assets under management as of December 2021 and invests ...
In recent years fraudsters have managed to swindle banks in the commodities financing sector through double financing, selling commodities of subpar quality or which simply don’t exist. In this Industry Perspective, Sean Birrell, chief technology officer of Veridapt, and David Thambiratnam, its chief executive officer, explain why technology that monitors physical commodities in real time ...
Supply chain logjams and macroeconomic headwinds look set to put the brakes on global merchandise trade’s post-Covid comeback, the latest industry data show. According to a new report from the United Nations Conference on Trade and Development (UNCTAD), the overall value of global trade reached a historic high of US$28.5tn last year, an increase of ...
Sinochem, China’s fourth-largest state-controlled oil company, has carried out the country’s first digital warehouse receipt pledge for crude oil, using 66 Cloud Chain, its blockchain-based supply chain infrastructure. The transaction saw Qingdao Taihe Jiabai Energy, a subsidiary of Shandong Jingbo Petrochemical, receive Rmb40mn (US$6.3mn) in financing from Shandong Port Finance Holding by pledging digital warehouse ...
Surecomp, a provider of trade finance systems to banks and corporates, has partnered with Swedish fintech Enigio to add digital original documents into its cloud-based solution. The tie-up embeds Enigio’s trace:original digital trade finance documentation product into the Surecomp system, enabling Surecomp customers to create, manage and exchange digital trade documents such as letters of ...