6How I got into trade finance
66The supply-chain risk
7Artis's trade business today
67Example: An overnight import ban as a pretext for non-payment
8Small markets as an attractive niche
68Chapter 6: Risk Management: Legal Requirements and Voluntary Measures
9Niches due to ambitious ESG requirements
69Legal requirements and the Basel Framework
10Why investors should pay more attention to trade finance or 'la nature a horreur du vide'
70Measures that trade financiers should take in their own interest
11Chapter 1: Trade Finance – The Lifeblood of Global Trade and an Attractive Investment
71Credit insurance
12Two examples of what a trade financier does
72Collateral covering
13It's all about building resilient global supply chains
73Artis's due diligence process and legal mitigation checklist
14Trade finance: A catalyst of global growth and sustainability
74Step 1: KYC (that is, Know Your Customer) and AML (Anti-Money Laundering): A necessary analysis
15Challenges: Why banks are currently withdrawing from trade financing
75Step 2: We focus on understanding the product
16Trade houses support small and medium-sized enterprises: The synergies for international trade
76Step 3: Validating the counterparties: who is the seller, or exporter, and who is the buyer, or importer
17Understanding the challenges for SMEs in international trade
77Step 4: Structuring the transaction
18Safety mechanisms offered by trade houses
78Step 5: Focusing on the identified risks
19Factors to consider when selecting a trade house
79Step 6: Focusing on the trade process and sanctions
20Investing in trade finance: Profits in line with social responsibility
80Awareness: Only transparency can create trust
21Chapter 2: The History of Trade Finance
81Chapter 7: ESG: Sustainability in Trade
22The British merchant banks
82Making trade greener
23The Kuwaiti market crash
83Trade finance drives the implementation of ESG
24The sōgō shōshas of Japan
84Shaping a sustainable future
25The investments of Berkshire Hathaway
85Case study: Cocoa from Ghana
26Generation fintech: Streamlining and speeding up processes
86Support from multilateral institutions
27Blockchains and cryptocurrencies are revolutionising trade
87What's ahead
28Current trends: The boon and bane of increasing regulation
88Chapter 8: DeFi, Blockchain, and Their Impact
29Chapter 3: How Trade Finance Works: Methods, Means, and Tools
89Transforming trade finance with decentralised finance: A new era for investors
30Not all trade finance operations work the same
90Decentralised finance lending versus traditional lending
31Factoring and reverse factoring
91The benefits of decentralised finance in trade finance
32Factoring: Buying an exporter's invoice at a discount
92The risks and challenges of decentralised finance in trade finance
33Reverse factoring: Same procedure, different initiator
93Overall, it can be said that decentralised finance platforms might help to narrow the trade finance gap
34Two examples of reverse factoring
94Chapter 9: Artis's Growing Business Space: Exploring Trade in Saudi Arabia
35A practical case of non-payment: Nevertheless, the financier's risk of loss is low
95Saudi Arabia's economic powerhouse strategy
36Supply-chain financing
96Diversifying beyond oil
37A few remarks on the instruments of supply chain finance
97Growth projections
38Investing in the value chain
98The role of trade finance in Vision 2030
39A girl's best friend: Diamonds are a good example
99The rise of SMEs
40Learnings from supply-chain disruptions in the past
100The emergence of non-banking players
41It's worth taking a close look
101Regulatory and government support
42Artis's approach to financing trade receivables
102Saudi's favourable taxation environment
43Is a trade investment still worthwhile and are there hidden fees
103Saudi Arabia shows what trade financing is capable of
44The value of a team
104Chapter 10: Opportunities – How to Invest in Trade Financing
45The benefits of a tenor
105Trade finance as a compelling asset class
46Chapter 4: Gamblers, Crooks and Spies: The Dark Side of Trade Financing
106Trade finance as an inflation hedge and strategic investment choice
47The fall of Barings Bank
107The appeal of trade finance in inflationary times
48Lessons learned from Leeson
108The role of credit insurance in trade finance
49Money laundering
109Selecting the right trade finance special purpose vehicle
50Impersonation
110Impact investing and economic contributions
51Fake trades
111Definitely a recommendable addition to an investor's portfolio
52Double financing
112Let us now turn to the performance measurement of trade finance funds: Searching for a suitable benchmark for trade finance funds
53Authenticity of goods and 'swag'
113Let us take a look at common benchmarks and their shortcomings
54The Greensill case
114What could a bespoke benchmark look like for trade finance?
55UBS settlement and investor recovery in August 2024
115Why is a familiar index important for investor confidence?
56Lessons learned from Greensill
116Are private debt benchmarks the better choice?
57Navigating the complexities of trade finance with clarity
117Conclusion
58The involvement of banks
118Acknowledgements
59Non-payment
119Closing Announcement
60Artis's strategy for avoiding fraud and unfair practices
