News


Global crisis drives new ITFA initiative in Southern Europe

Tuesday, August 26th, 2014

The new chairman of ITFA’s Southern Europe Regional Committee (SERC), Demetris Zouzoukis, is leading an initiative to share information and common concerns for the good of all members in the region during the current financial crisis. Zouzoukis, Deputy General Manager and Head of Forfaiting at Athens based Marfin Factors & Forfaiters, is currently convening a […]

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New Primary Market guide a “must read”

Tuesday, August 26th, 2014

The document, produced by the ITFA’s Market Practice Committee and lawyers Denton Wilde Sapte, is designed primarily for new entrants to the market. It also reflects the views of a number of ITFA members both in form and content as well as those of the Forfaiting Task Force set up within the International Chamber of […]

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L/C cancellations cause distress

Tuesday, August 26th, 2014

We are receiving reports, that because prices of certain goods and commodities have been moving against buyers, some are unilaterally canceling letters of credit. We understand that the L/Cs emanate from a variety of markets and are affecting overseas suppliers who are not being consulted by their customers in advance of shipping commodities. This is […]

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Education seminars

Tuesday, August 26th, 2014

Twenty-eight people from all over the world attended the forfaiting seminar in Prague on 2nd and 3rd September, ahead of the conference. The course, which spanned two half-days, was an introduction to best practice in forfaiting and covered, among other things, risk assessment, how to carry out discount calculations, documentary issues and considerations of how […]

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Party in Prague

Tuesday, August 26th, 2014

ITFA’s Prague conference was one of the most successful in the nine-year history of the Association. The 185 attendees from 34 countries gathered at the Intercontinental Hotel on Wednesday 3rd September in the historic Czech Republic capital for the two-day event, which culminated in cocktail reception and gala dinner at St. Agnes Monastery. At the […]

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Website improvements

Tuesday, August 26th, 2014

If you have had trouble accessing some of the material on the ITFA website over recent weeks, we are pleased to tell you that we have now fixed the problems. Following relaunch of the site there were one or two teething problems and our technicians have now sorted them out. But if you feel that […]

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Transcapitalbank syndication massively over-subscribed

Tuesday, August 26th, 2014

The 364-day facility will be used to finance Transcapital’s customers’ trade contacts and was priced at a margin of 2.95%. It was brought to market by Banco Finantia S.A., Commerzbank AG and VTB Bank (Deutschland) AG in mid-June. By the time of loan-signing five weeks later, subscriptions had reached US$70m with Raiffeisen Zentralbank Osterreich AG […]

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Our thanks to Norbert Fritsch

Tuesday, August 26th, 2014

Norbert, who works for HVB in Munich, has completed two three-year terms on ITFA’s Board and therefore under our Board mandate he is obliged to step down. But we will miss him. “He has brought to ITFA his three decades of experience of trade finance and forfaiting, as well as playing a vital role on […]

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Investkredit Bank joins ITFA

Tuesday, August 26th, 2014

Investkredit is part of Volksbank Group and is responsible for its corporate and real estate business. It has offices in 7 countries in Central and South Eastern Europe including Czech Republic, Poland, Romania, Slovakia and Ukraine and has a well-developed capability in international structured and trade finance. The bank’s business streams include providing advice on […]

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The Receivables Exchange joins ITFA

Tuesday, August 26th, 2014

New ITFA member The Receivables Exchange is a platform established to give private companies rapid access to working capital. Headquartered in New Orleans with an office in New York, qualifying companies can list their invoices on The Receivables Exchange where capital providers bid to buy the receivables. The Exchange’s target is the massive accounts receivable […]

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ITFA Website Redesign

Tuesday, August 26th, 2014

Work is currently being carried out to improve the ITFA website and make several changes to enhance the user experience. We apologise for the inconvenience this may cause, and reassure users that this should only be a minor disruption which should be completed over the next few days.

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Update on “Structured Commodity & Trade Finance Asia” conference

Tuesday, August 26th, 2014

The ITFA Association kindly encourage a representative of your esteemed bank to subscribe the ITFA co-sponsored event on “Structured Commodity & Trade Finance Asia” conference on 26-28 August 2008 in Singapore and hereby thank you in advance if you could make sure to pass the subject information to any of your local branches and/or colleagues […]

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