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Trade Finance Payment Tool-OPEN Account In trade finance, there are a few major payment used of which one is called Open account. Basically, when settlement takes place on open account, it means that the exporter will ship his products to the importer before any payment has been received. The exporter then presents the required documentation to the [...] Arbitrage: refers to simultaneous buying and selling of foreign exchange. The profits are made from the difference between foreign exchanges prevailing in the different centres at the same time or in different currencies. Buying Rates: refers to the exchange rtaes on which foreign exchange dealers are prepared to buy in the market. Closing Position: it means that covering is either open [...] Basel II is a revised version of the 1988 Capital Accord, written by the Basel Committee on Banking Supervision(BCBS). Its formal title is the International Convergence of Capital Measurement and Capital Standards:A Revised Framework. Basel II aims to produce greater consistency in the way banks and their regulars approach cross-border risk management. One of its main goals [...] As group treasurer, you need to enable your cash in all your various banks to generate interest. Very often, you are being approach by banker(s) to do cash pooling or concentration of balances. This articles look at what’s are cash pooling- its advantages and it basic mechanism. Cash pooling is simply a banking structure where balances on a [...] Bankers when offering banking facilities would prefer that the company provide certain security/collaterized assets However, in the event of an UNSECURED commercial loan, we will often then see a Negative Pledge Covenant letter being issued. So what is this negative pledge clause letter and what are its purposes? Firstly, a negative pledge is a provision in a contract which prohibits a party [...] |
FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four, Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.
Also author to another very popular free educational accounting cum finance blog: http://basiccollegeaccounting.com under the branding of College Accounting Coach. |
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