27 May, 2024

BOV leads the discussion in trade finance


Unlocking Liquidity & Mitigating Risks

Bank of Valletta successfully hosted a comprehensive Trade Finance Seminar earlier this month at Giardini Lambrosa in Rabat. This event was designed to provide local businesses and entrepreneurs with essential knowledge and tools to navigate the complexities of international trade. The seminar was led by Joseph Rodgers who heads the Bank’s Trade Finance arm. Among the key topics covered, there were the benefits of trade finance, incoterms, methods of payment, and pre- and post-shipping financing.

Unlocking the Benefits of Trade Finance

The seminar kicked off with a detailed presentation on the various benefits of trade finance. Attendees learned how these financial instruments can help mitigate risks, improve cash flow, and offer security for both importers and exporters, as well as manufacturers. Mr Rodgers showcased the Bank’s products, illustrating how they facilitate smoother and more efficient international transactions. Joseph Rodgers highlighted the team’s customised advisory services and customer-focused approach. “With years of experience in facilitating international trade transactions, the Bank has nurtured a team of seasoned professionals who understand the intricacies of global markets. This wealth of knowledge allows us to offer tailored solutions that address the specific needs of businesses at every stage of their trade cycle.”

Selecting the Right Incoterm

Understanding International Commercial Terms (Incoterms) is crucial for any business engaged in global trade. The seminar provided an extensive overview of these terms, explaining the obligations of the buyers and the sellers, the shifting of risk from seller to buyer (where and when the seller ‘delivers’) and which and who bears the costs involved. This session aimed to reduced disputes and ensure clarity in international trade agreements, a vital aspect for any successful business relationship.

Navigating Methods of Payment

Various methods of payment, such as Documentary Credits (DCs), Documentary Collections, Advance Payments, and Open Account transactions, were explained in detail.  The session highlighted the advantages and potential risks of each method, enabling businesses to make informed decisions tailored to their specific needs.

Exploring Pre- and Post-Shipping Financing Options

The seminar also covered financing options available both before and after the shipment of goods. Trade financing solutions such as back-to-back documentary credits, Collateral Management Agreement (CMA), Stock Monitoring Agreement (SMA), Security by Title Transfer Agreement (STTA), bill of lading financing, invoice discounting, factoring and reverse factoring were discussed. International experiences were also shared with attendees to elaborate on the importance of such trade financing. These options are designed to provide liquidity and support business growth, ensuring that companies have the necessary funds at every stage of the trade process.

Supporting Local Businesses

“We are committed to supporting our customers’ international business ventures by providing the necessary knowledge and financial tools to help them navigate this often complex but crucial part of their business”, explained Kenneth Farrugia, the Bank’s CEO during his brief intervention.  “Understanding the intricacies of trade finance is crucial for mitigating risks and maximising opportunities, and this is an area where we can really offer our support. At the heart of our success in trade finance is our dedication to building strong, long-term relationships with customers. We maintain open lines of communication and prioritise client needs. Our professional experts understand the intricacies of the global markets and are therefore able to offer tailored solutions that address the specific needs of the individual customer.”

The seminar concluded with an interactive Q&A session, where attendees could address specific concerns and gain personalised insights. Feedback from participants was positive, with many praising the practical approach and valuable information shared. Businesses and entrepreneurs wishing to discuss trade finance solutions or other financing requirements are encouraged to reach out to the Bank on 2275 1122 or businessdevelopment@bov.com. Alternatively, they may use the Bank’s Online Booking system on bov.com.

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