TFR reports on ICC’s launch of new supply chain finance definitions at ICC Academy’s 2016 SCF Summit

panel 2Following the launch of the International Chamber of Commerce (ICC) Banking Commission’s set of Standard Definitions for Techniques of Supply Chain Finance, TFR reports on the ICC’s fourth Supply Chain Finance (SCF) Summit, hosted by the ICC Academy, and explains the significance of these new standards and definitions.

According to the article, the Summit highlighted the complexity of SCF terminologies, due to the increase of new players, as well as new technologies in the industry.  Indeed, among the topics discussed were bank payment obligations (BPOs), conflicting terminologies (“payables finance”, “reverse factoring”, “confirming”, “approved payments finance”), as well as the mandate and terms of reference of the terminology, its drafting process, and the expected benefits.

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