Magazine article Business Credit

Trade Finance Transactions Head in an "Easier Direction" at FCIB Roundtable

Magazine article Business Credit

Trade Finance Transactions Head in an "Easier Direction" at FCIB Roundtable

Article excerpt

Trends in dispute resolution between exporters and their international buyers seem to suggest that the entire process is in the middle of a shift toward the informal. Emerging markets are where the opportunities are, and so exports continue to flow to these countries. However, their legal systems remain far less sophisticated than those in the United States or European Union. As such, alternatives to resolving a dispute in court have become increasingly popular among international business partners.

"I don't think arbitration is as efficient as it used to be, but I think we're moving away from litigation to arbitration," said Robert Brown, an attorney with Greenebaum Doll & McDonald PLLC, at the March FCIB New York Roundtable, hosted at the offices of Lowenstein Sandler LLR "I think trade is always moving in that direction, toward easier transactions."

Brown made this observation while discussing dispute resolution, but it informed the entire roundtable program. Exporters are looking for ways to make their trade finance transactions simpler, safer, faster and more profitable, and they found them in the roundtable's exchange of executive-level insights and cuttingedge glimpses into the latest developments affecting trade financial instruments, regulatory compliance and export support.

After opening with a networking luncheon and a comprehensive, exporter-sensitive economic outlook from Carolyne Spackman, vice president and economist, country risk with American International Group, Inc. (AIG), the roundtable's central panel, moderated by Osterman & Company, Inc. Credit Manager Aysegul Budak, ICCE and titled "Current Issues Impacting Trade Credit," tackled a host of prescient topics.

In addition to discussing international dispute resolution, Brown also delved into the intricacies of the Foreign Corrupt Practices Act (FCPA) and US anti-money laundering regulations, warning attendees to remain vigilant or face the steep fines, or even possible jail time, for non-compliance. …

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