<\/p>\n
An ITFA working group has recently developed a template for financial institutions (FIs) granting short-term trade loans via the SWIFT MT799 format.\u00a0<\/span><\/p>\n The SWIFT MT799 is commonly used by banks to communicate non-binding information on trade finance transactions. While widely used, this system has historically lacked the uniformity to operate across multiple jurisdictions. This has led to difficulty for banks seeking to obtain foreign currency financing, contributing to the barriers to finance which many emerging markets face.<\/p>\n The new template aims to enhance this accessibility for both borrowing and lending banks. It offers clear guidance on topics from floating rate loans with periodic interest resets to different governing laws, and is designed to be concisely focused on practicality.\u00a0<\/span><\/p>\n Paul Coles, chair of ITFA\u2019s Market Practice Committee, led the working group, which included experts from Sullivan and FCMB Bank (UK).<\/p>\n Geoffrey Wynne, a partner at Sullivan and part of the ITFA working group which developed the template, said, \u201cThis template is important because, by provides a starting point for banks to document short term trade loans using SWIFT, it should reduce the time needed to negotiate and finalise the relevant trade loan agreement.\u00a0<\/span><\/p>\n \u201cWhile it provides a starting point, the template also allows for the customisation of the documentation to meet the specific needs of individual transactions. We hope this will be key to its success.\u201d<\/p>\n ITFA has emphasised that this template exists to complement other comprehensive frameworks, but focuses on standalone, one-off loans that are solely documented through SWIFT messaging.<\/p>\n The standardisation of this format is intended to provide a benchmark of \u201cwhat good looks like\u201d.\u00a0<\/span><\/p>\n The template and accompanying guidance notes are now available to ITFA members through the association\u2019s website, though users are advised to seek legal advice before implementation.<\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" An ITFA working group has recently developed a template for financial institutions (FIs) granting short-term trade loans via the SWIFT MT799 format.\u00a0 The SWIFT MT799 is commonly used by banks to communicate non-binding information on trade finance transactions. While widely used, this system has historically lacked the uniformity to operate across multiple jurisdictions. This has […]<\/p>\n","protected":false},"author":1,"featured_media":3901,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/05\/SWIFT-99-1140x445.webp",1140,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/05\/SWIFT-99-463x348.webp",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/05\/SWIFT-99-300x204.webp",300,204,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/05\/SWIFT-99.webp",2210,1502,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/3900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=3900"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/3900\/revisions"}],"predecessor-version":[{"id":3902,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/3900\/revisions\/3902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/3901"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=3900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=3900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=3900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}