New trade loan template to standardise and guide trade finance transactions launched by ITFA
1 Articles
1 Articles
New trade loan template to standardise and guide trade finance transactions launched by ITFA
An ITFA working group has recently developed a template for financial institutions (FIs) granting short-term trade loans via the SWIFT MT799 format. The SWIFT MT799 is commonly used by banks to communicate non-binding information on trade finance transactions. While widely used, this system has historically lacked the uniformity to operate across multiple jurisdictions. This has led to difficulty for banks seeking to obtain foreign currency fin…
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