In the World of paradigms from another World


I am totally in love with Trade Finance. But – it has been a very long love affair – so I am not blinded by love! I can see all the defects; bad habits, hick-ups … and what have you.


In fact – when you look at it – there are so many paradigms … so many “locked” mind-sets – that are surely not fruitful for the development of trade finance as a vital area within international trade.

 

My first blog posts for the New Year will take a closer look at (for starters) 8 trade finance paradigms.

 

Namely the following:

 

  1. Use on-board bills of lading for multimodal transports
  2. ICC can only make money by high priced publications and hard protected copyrights
  3. ICC rule making – it takes the time it takes
  4. ICC Opinions are ICC Opinions are ICC Opinions
  5. The LC is an old fashioned instrument that must be replaced by more up to date instruments
  6. Here we use guarantees. Here we use standby LCs
  7. The freight forwarder is an intermediary
  8. A compliance check with a “hit” is a sanction breach

 

You are more than welcome to suggest others! In any case – during the next couple of weeks the above paradigms will be described in more detail …. Look out for it.

 

Take care of each other – and the LC!

 

Kim

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