Innovations in working capital solutions are more vital in today’s economic climate than they have ever been before. With companies and suppliers under conflicting pressures to improve payment terms, reduce prices and improve cash flow efficiencies, the International Chamber of Commerce (ICC) and its Banking Commission are focusing on establishing new financial solutions that will enable corporations to maintain a resilient supply chain. In light of this, the ICC Banking Commission has organized its first-ever ICC Supply-Chain Financing Conference, in Paris on October 4-5.
“World trade is predicted to grow by 75% in the next 15 years, with merchandise trade volumes set to climb to US$48 trillion by 2025, up from US$27.2 trillion today. From today’s emerging markets, new international powerhouses will arise to further drive world trade growth,” said Andre Casterman, Conference Co-Chair, Head of Banking and Trade Solutions, SWIFT and Co-Chair of the ICC Bank Payment Obligation (BPO) Project.
“To support such growth in a volatile economic climate, new supply chain finance rules are being established – Bank Payment Obligation rules, for instance, offer a new instrument that combines the benefits of the letter of credit with those of open account trade,” Mr. Casterman said. “Our conference provides a unique opportunity to learn from corporate experts and bankers about their visions and strategies for supply chain finance today.”
The conference combines educational sessions on different supply chain finance techniques while drawing on case studies and examples of best practice. Topics will be divided between “Invoice-based supply chain finance techniques” and “Purchase order-based supply chain finance techniques”.
Click here to read more on ICC’s website.
Staff Contact: Eva Hampl