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03-Dec-2020 17:44
Yet despite this, the lack of experts and practitioners in trade finance is a real problem, and the number of specialised trade financiers is falling.That said, the benefits of trade finance to the economy speaks for itself.We help companies to raise finance in ways that is sometimes out of reach for mainstream lenders.Packing credit is the most commonly used trade finance tool by an exporter.Packing credit is basically a loan provided to exporters or sellers to finance the goods’ procurement before shipment.The bank will make the funds available to a letter of credit issued favoring the seller and a confirmed order for selling the goods or services.
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For example, if a company were to buy clothing goods in preparation for the winter season, that revenue would be able to pay for the initial loan.The bank issuing the packing credit will usually advance the partial or full proportion of the invoice, depending on the assumed risk.
