One minute guides.
We are the home of real-time ESG data. We also make trade finance and supply chain finance simple, digital, and accessible.
ESG ISO26000 and worker voice app
Our worker app, and the resulting social score, are fully aligned with the principles of ISO26000. The ISO standard covers more than just the matters that the worker app and social score. Implementing the worker app and working with the diagnostic panel that supports the social score does not mean
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Link trade finance with ESG
This is really important for enterprises. One of the main challenges for the enterprise is how to incentivise change in its supply chains. Without real-time data, and without a real-time finance lever - the only recourse most enterprises have is to withdraw business from suppliers that do not meet t
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Worker voice app and ESG
The worker app goes onto the mobile phones of workers. It enables a worker to rate his workplace across a large panel of different questions. Worker responses, combined with data on how the app is implemented and the frequency and types of responses are then combined into a "social score".
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Social and governance: core to ESG
7 out of the 17 UN sustainable development goals ("SDGs") are influenced by social and governance practices in the workplace. But until recently, measuring performance against social and governance standards (the S + G of ESG) has been difficult.
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Real-time ESG is important
Measure it, manage it, improve it! Generally, if we want to change something, we need to know where we are starting from, and we need to be able to measure the changes that are happening. This is what real-time ESG is all about.
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Worker voice app is important for ESG
Simply the most important development in ESG. Across many businesses, ESG has a marketing problem and compliance investment rarely generates a direct return. We fix this issue.
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ESG
ESG is not a new concept, the definition has been in use for many years. It is a fundamental part of the social contract between business and society and usually managed as part of "CSR" or Corporate Social Responsibility. It means "environmental", "social" and "governance".
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Why is trade finance important?
Without trade finance, pre-shipment finance does not really work. Exporters need cash at shipment. Trade finance is how this is managed and the lack of a customer-friendly trade finance product is hurting supply chains around the world.
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Blockchain and trade finance
It is important to be cynical about blockchain and to cut through the hype. But trade finance offers a compelling set of use-cases for the deployment of simple ledger verification – and, in time, smart contracts. Our whitepaper on how to use blockchain in trade finance is here
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Digital trade finance – the basics
An online trade finance system should always include important functionality in order to be useful to exporters (for export finance) or importers (for supply chain trade finance). Find out what you should look for.
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Export Finance: the basics
Export finance helps exporters to offer credit to their buyers. This means that they can offer "ship, get paid" terms to buyers - and this is what buyers want. Export finance is provided by a specialist like PrimaDollar.
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Supply Chain Trade Finance
Supply Chain Trade Finance is a breakthrough for large multinational corporates whose supply chains stretch into international markets. It has been invented by PrimaDollar.
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Trade finance and logistics
Freight and finance are merging. Global trade is a huge market with significant financing needs. It is poorly served by legacy products from banks. We have a better product (see here) which is quicker, cheaper and simpler.
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Open Account: the basics
Open account means exporting on the basis of "ship now, pay later". Export the goods. Buyer promises to pay later. Trust the buyer to pay. It is called different things in different countries. For example, it is also referred to as exporting on "DA terms" or "sale contract".
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Supply Chain Finance (SCF)
Supply chain finance (or SCF) refers to a funding program implemented by a buyer to provide early payments to his suppliers. It is, maybe, a US$1 trillion industry today. It typically works like this:
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Letter of credit: the basics
A letter of credit ("LC") is a flexible and internationally accepted form of financial guarantee. Most of the time they do not provide any guarantee and PrimaDollar provides a cheaper and better alternative. But this is what an LC is.
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Discrepant Letters of Credit (LC)
Many exporters ask their buyers to arrange a letter of credit believing they have a guarantee. Nearly all letters of credit fail to provide any protection - they are discrepant. What happens next?
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Documentary Collection
Documentary collection is a system to help exporters. It is used by exporters to ensure that control of the goods is retained until the buyer has checked he is getting what he expects before committing to pay. PrimaDollar can organise this via our bank, but our online system does it better.
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Basel 3 and Trade Finance
Basel 3 requires banks to keep high levels of capital against trade finance including letters of credit that they issue. Many banks are reducing or pulling out of trade finance services as a result.
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Incoterms: the basic definitions
Incoterms are terms like: FOB, CIF, DDP - and you will find them specified on purchase orders for the manufacture and import of goods. Incoterms are established by the ICC, and were last revised in 2010, so you should always see the reference being to "Incoterms 2010". This is important.
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Trade Finance: landscape
Investors, lenders and corporates are bombarded with propositions involving trade finance and trade receivables, especially from the new breed of alternative trade finance providers. This guide sets out the different business models and what they aim to achieve, splitting the market into three main
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Trade Finance: performance risk
Investors who finance a portfolio of trade receivables or an individual trade receivable face performance risk. Performance risk is the risk that the buyer, who owes the money, can legitimately avoid paying because the supplier has failed to do a good job.
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Trade Finance: credit risk
Investors who finance a portfolio of trade receivables or an individual trade receivable face credit risk. Credit risk is the risk that one or more parties involved in a trade receivable are unable to meet or do not meet their financial obligations.
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Import finance: accounting
When trade finance, supply chain finance or supply chain trade finance is employed, buyers need to pay attention to the accounting treatment for the arrangements that are involved.
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Landing the shipment
The process of importing goods involves "landing" them. Landing happens when goods have reached the import terminal and is the process of getting the goods through import customs. The shipped goods are physically handed over by the freight-forwarder, often to a customs broker working for the buyer.
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Shipping Documents: the basics
Shipping documents are involved in the export and import of goods. The exact set of documents varies from trade to trade, and depends upon the incoterm that applies.
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Islamic Trade Finance
The Shari'a is a body of rules based upon the Quran. Complying with these rules forms the basis of modern Islamic finance. In the Quran, there is a great amount of guidance as to how life should be lived, covering many topics. In relation to finance, some of the main rules can be summarized as:
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