BHP Billiton and Cargill have shifted an entire bulk trade and payment transaction into a first time four-corner bank payment obligation with ANZ, Westpac, and an essDocs electronic bill of lading.
Bolero and essDOCS inked their first deals on India trade and bank payment obligations (BPO), breaking new ground for the normalisation of electronic trade documents.
Data from East & Partners shows a 13.2% drop in export loans in Australia in the period from 2012 through 2014 and is said to pose a challenge for Australian banks.
The Qingdao Port investigation will drag into mid-way next year, according to a China trade services expert, treasurers can expect pre-shipment finance to be “virtually impossible”.
With the help of ANZ bank, China’s largest cereal processor and trader has undertaken a bank payment obligation. It also marks the first deal of its type involving an Australian bank.
BHP Billiton and Xiangguang Copper have transacted a first of a kind back-to-back electronic letter of credit over Bolero, shaving 20 days off a typical transaction.
Combining exclusive interviews and submissions from Asia’s key transaction banks, CT has compiled ten top trade finance strategies from the last year. This is part three of five of the full write ups.