The Global Supply Chain Finance Forum to update its Standard Definitions

Wednesday 3 February 2021 12:47 CET | News

The Global Supply Chain Finance Forum (GSCFF) has announced plans to update its Standard Definitions for Techniques of Supply Chain Finance (Standard Definitions).

As Trade Arabia shows, this has come following the need to provide further clarity on the distinctions between the individual techniques. The forum comprises of BAFT (Bankers Association for Finance and Trade), FCI (previously known as Factors Chain International), the International Chamber of Commerce (ICC), the International Trade & Forfaiting Association (ITFA) and the Euro Banking Association (EBA).

Alongside the existing Receivables Purchase and retitled Loan sub-categories, a newly created Advanced Payable sub-category now includes three techniques: Corporate Payment Undertaking (CPU), Dynamic Discounting (DD) and Bank Payment Undertaking (BPU). 

The first description document on CPU has also been released, with subsequent documents on DD and BPU expected over the coming months. Each description document will provide an overview of the technique’s definition, involved parties, distinctive features and variations, relevant risks, and benefits, among other technicalities. Once the series has been published, a final updated version of the master Standard Definitions document will be made publicly available.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: GSCFF, standard definitions, SCF, BAFT, FCI, ICC, ITFA, EBA, cpu, dd, bpu
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech