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
- ICC
Opinions are ICC Opinions are ICC Opinions
- The LC is
an old fashioned instrument that must be replaced by more up to date
instruments
- Here we use
guarantees. Here we use standby LCs
- The freight
forwarder is an intermediary
- 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