Insured settlement for e-commerce

ABN AMRO and Coface, the French export credit insurer, have teamed up to promote a new assured settlement model for e-commerce trading. Is the writing on the wall for letters of credit?

ABN AMRO and Coface, an export credit insurer, have signed a memorandum of understanding to provide an assured settlement model for e-commerce trading in Asia-Pacific. Targeted at companies trading in e-marketplaces, the collaboration promises faster, and more cost-efficient financial settlement over and above the use of traditional trade finance instruments such as letters of credit and documentary collection.

Under the collaboration, Coface's rating system will be incorporated with ABN AMRO's trade settlement products...

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