Trade and Supply Chain Finance using SWIFT for Corporates

Transcription

Trade and Supply Chain Finance using SWIFT for Corporates
Trade for Corporates
Facilitating multi-banking solutions in trade &
supply chain finance using SWIFT for Corporates
Decembre 2014
Trade settlement with Open Account
Open Account can mean:
• Partial payment in advance (before shipment)
• Full payment in advance (before shipment)
• Payment after shipment (below example)
• Payment at sight
Back
office
Back
office
1
Contract (P/O) with Open Account as Payment Term
2
3
Importer
Shipment of goods and documents
Exporter
MT 101 <request for transfer>
MX pain.001
5
5
MT 910 <confirmation of credit>
MX camt.054
MT 940 <customer statement>
MX camt.053
MT 900 <confirmation of debit>
MX camt.054
MT 940 <customer statement>
MX camt.053
MT 103 <customer credit transfer>
Account
servicing
institution
4
Account
servicing
institution
Trade Settlement with Letter of Credit
Back
office
You can also use
SWIFT for Corporates for
Guarantee / Stand-By LC
Back
office
1
Contract (P/O) with LC as Payment Term
5
Importer
Shipment of goods
Exporter
2
FileAct
tsmt.xxx.tradedocuments
Electronic trade docs.
MT 798<message index MT 770>
MT 798<LC application details MT 700>
MT 798<LC application extension MT 701>
4
MT 798<message index MT771>
MT 798<LC issuance notification MT 700>
MT 798<LC application extension MT 701>
3
LC Issuing
Bank
6
5
MT 798<message index MT 774>
MT 798<LC credit advice MT 700>
MT 798<LC credit advice extension MT701>
MT 700<LC issuance>
UCP 600 Unified rules for LC
LC Advising
Bank
Amendment acceptances, advises, discharge, refusal, payment notification & advice are also covered by MT798
Trade Settlement with Bank Payment Obligation
(BPO)
Back
office
1
Back
office
Contract (P/O) with BPO as Payment Term
5
Shipment of goods
Importer
10
Exporter
Invoice and shipping documents
2
FileAct <tsmt.019 initial baseline submission>
FileAct <tmst.xxx.trade docs> scan copy P/O
FileAct <tsmt.014 data set submission>
FileAct <tsmt.xxx.tradedocuments>
Electronic copy of transport and
invoice
FileAct <baseline notification>
FileAct <tsmt.013 Transport
and invoice data match
report >
FileAct <tsmt.013 match
report and payment
confirmation>
9
3
8
7
Transport and Invoice data set
UR BPO
Match reports
9
Inform of BPO establishment
TSU
Obligator
Bank
4
Matching PO vs.
trade dataset
BPO Issuance
6
Match reports
BPO
Recipient
Bank
Baseline resubmission, amendment, mismatch acceptance and rejection are also covered by tsmt
BPO benefits for Importer and Exporter
Certainty to be paid on time
Payment
Assurance
Easier procedure for BPO
issuing
Turn paper to cash faster (up
to 50% vs. LCs )
Receivables
finance
BPO
Increased
operational
efficiency
BPO supports pre and postshipment financing
Payables
finance
Risk
mitigation
Safer than open account
Faster identification of trade
discrepancies
How Swift Can Help?
Connectivity
Messaging
Format
Conversion
Open Account
Web-based (Lite2) or
In-House (Alliance
Access)
Transactional (FIN) or
Bulk Payment File
(FileAct )
Proprietary to ISO
(MT101 or pain)
Letter of Credit
Web-based (Lite2) or
In-House (Alliance
Access)
Transactional (FIN) and
Electronic doc. (FileAct)
Proprietary to
MT798
BPO
Web-based (Lite2) or
In-House (Alliance
Access)
Data XML (ISO 20022)
and Electronic doc.
(FileAct)
Proprietary to XML
(ISO 20022)
Bank's onboarding
Implementation
Services
Implementation
Enabling partner's
and configuration
banks for legal and
of Swift
operational
connectivity and
readiness
services
Standards
Training
Standards training
for payments, LCs
and BPO flows
6
16 banking groups live on BPO
Including 6 of the top15 Trade banks (based on Cat 7 traffic)
7
59 banks adopting BPO
Including 18 of the top20 Trade banks (based on Cat 7 traffic)
8
Thank you
Website:
Email:
LinkedIn Groups:
Your SWIFT contact:
www.swift.com/corporates
supplychain@swift.com
Corporates and Supply Chains on SWIFT
Regional contacts
9