International Trade Finance [Paperback]A Practitioner's Guideby Howard PalmerThis book is OUT OF PRINT You may be able to find a copy at ABE Books Description of International Trade FinanceThe second edition of this practical book is the invaluable guide to successful trade finance. The book will help the practising trade financier and those seeking entrance into this field of finance to overcome problems encountered and understand the merits of this type of financing. Across nine chapters it details practical issues involved in the successful use of trade finance techniques including: ECA financing, guarantees, LCs, standby LCs, structured LC transactions, trade finance and pre-export financing, forfaiting, countertrade, tolling, and fraud detection and avoidance. The new edition features expanded coverage of structured trade finance, and details ten simple methods to avoid fraud. There are also a number of standard documentation specimens including a variety of letters of credit, forfaiting terms, and escrow agreements.Title Information
Write a review of this book Customer Reviews from AmazonAbout Howard PalmerHoward Palmer is the founding Director of Tradefinance Guru Com. Ltd, and the author of Bank Risk Analysis in Emerging Markets (Euromoney Publications, 1998) and International trade and Pre-export Finance: A Practitioner's Guide, 2nd edition (Euromoney Publications, 1999). He has over 20 years' experience in the banking industry both as a practitioner, as Head of Trade and Lending and Assistant General Manager of RZB (Austria) in London, and as a consultant lecturer for Euromoney Training, globally.Mr Palmer is frequently cited as an expert witness in the High Courts of England, Hong Kong and New York, specifically in the area of market practice relating to international trade finance, and is uniquely placed as a banking practitioner, trade financier, lecturer, lawyer and advisor to record global developments in all areas of international trade. Contents of International Trade FinanceList of figures ixAcknowledgements xi The author xiii Author's foreword xv Preface xvii Chapter 1: What is trade finance? 21 Contemporary characteristics of trade finance 25 Exit routes 28 Value-impaired debt 29 Chapter 2: The real problem 31 Financing and risk entry points 31 Working capital or real trade finance? 33 The contemporary approach 36 Who is financing the transaction? 38 Chapter 3: Types of generic letters of credit 41 The essential nature of definition 41 Payment, acceptance and negotiation mechanisms 46 The deferred payment L/C 52 Chapter 4: Standby letters of credit 55 Introduction 55 Dos and don'ts 58 Chapter 5: Structured letter of credit transactions 73 The back-to-back letter of credit 73 Risk in back-to-back financing and risk mitigation techniques 80 Analysing the trader 85 Chapter 6: A transactional analysis of trade financeand pre-export financing 89 Transactional, operational and strategic stances 89 Duplex transactions 94 What kind of bank are you? 96 Chapter 7: The forfaiters and syndications 99 Introduction and traditional mechanics 99 The new forfaiters 104 Forfaiting the deferred payment letter of credit 107 Yesterday's capital markets 109 Chapter 8: Pre-export financing and tolling 113 The new countertrade 113 The mechanics of Red Clause letters of credit 118 Tolling transactions 120 Buy-back mechanics in high-risk countries 127 Green Clause letters of credit 128 Escrow account financing 130 Beneficiary risk 136 Chapter 9: Ten simple steps to avoid fraud 139 Large amounts are unbankable 139 Returns too high for the market 141 The promise of prime bank names 142 Over-complication of L/C terms 142 No underlying real trade 142 Beware of fashionable commodities 144 New traders 144 The reality of the deal 145 Crocodile 145 Due diligence 147 |
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