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:
- Use on-board
bills of lading for multimodal transports
- ICC can
only make money by high priced publications and hard protected copyrights
- ICC rule
making it takes the time it takes
Opinions are ICC Opinions are ICC Opinions
- The LC is
an old fashioned instrument that must be replaced by more up to date
- Here we use
guarantees. Here we use standby LCs
- The freight
forwarder is an intermediary
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!