Field guides on SBLCs, SWIFT instruments, fee protection, and the deal process — for brokers, mandates, and principals who'd rather not learn the hard way.
A fully sourced reference on standby letters of credit — what an SBLC is under ISP98, UCP600, URDG758 and UCC Article 5, what it can and cannot do, and the buy/lease/monetize myths answered straight from the FBI, SEC, Federal Reserve, and Treasury.
A practical, bank-grade guide to spotting fake standby letters of credit. Learn the 9 red flags of MT760 fraud, what a real SBLC looks like, and how to verify one before a deal dies.
MT760 vs MT700 explained without the jargon. What each SWIFT message does, when banks use which, how SBLCs and documentary credits differ, and the fraud traps to avoid.
A "bank page" is a piece of paper. A bank submission package is what an issuing bank's trade-finance desk actually needs to act on an SBLC, DLC, or MT103 request. The five reasons banks bounce packages, and how to avoid them.
An IMFPA is the document that's supposed to guarantee a broker's commission in a trade finance deal. Here's what it really does, where it fails, and how to make it stick.
An NCNDA is supposed to stop brokers from being cut out of a deal. Here's what it really covers, why circumvention still happens, and what makes non-circumvention enforceable.
A paymaster distributes commissions to brokers and mandates when a deal closes. Here's how the role works, where it goes wrong, and what makes a paymaster trustworthy.
Most trade finance deals don't die because the instrument is wrong — they die from process failures: leaked KYC, disputed commissions, and rejected bank packages. Here's the anatomy.
A clear, end-to-end walkthrough of how a standby letter of credit deal actually runs — from NCNDA and KYC through IMFPA, term sheet, bank package, and MT760 issuance.
What the 45/45/5/5 split means in a trade finance deal, who gets each share, why brokers and mandates are paid differently, and how to make sure your cut actually arrives.
Contour and Marco Polo raised hundreds of millions and signed dozens of banks — then collapsed. Here's what their failure teaches brokers about what trade finance digitisation must actually solve.
Komgo is the surviving name in trade finance digitisation — but it solves a different problem than a neutral paymaster. Here's an honest comparison of what each protects.
Komgo is the enterprise survivor of the bank-consortium era; DEALEXUS is the neutral deal layer for brokers and mandates. A head-to-head — including where Komgo is genuinely stronger.
Contour collapsed in 2023, was fire-sold twice, and relaunched under XDC with stablecoin settlement. How the revived LC rail stacks up against a neutral broker deal layer — and whether it's a threat.
An NCNDA alone doesn't stop circumvention. Here's the stage-by-stage anatomy of how brokers get cut out of deals — and what actually has to be in place to prevent it.