ICC Academy’s Supply Chain Summit to host the release of standardised finance terminology
Taking place in Singapore on the 9-10 March, the ICC Academy’s Supply Chain Summit will play host to a number of industry experts as well as the official release of globally-standardised supply chain finance terminology.
The summit, which will be held at the Maxwell Chambers in Singapore, will welcome 150 trade finance experts, CFOs, corporate credit and risk managers, corporate treasurers, import managers, trade specialists, bankers, insurers, consultants and vendors from all over the world. It will feature panels and case studies by industry leaders, invaluable networking opportunities, and up to 15 professional development credits (PDCs) towards any ICC Academy certification.
A key feature of the summit will be the release of a new internationally-standardised definitions for techniques of supply chain finance endorsed by the ICC Academy, facilitated by the ICC Banking Commission and jointly produced with key global industry associations: Bankers Association for Finance and Trade, Euro Banking Association, Factors Chain International, and International Forfaiting Association, whose members will be contributing to the panel discussions.
A panel will discuss the benefits of a globally-standardised definition of supply chain finance, as well as the details of the drafting process, and its proposed structure and techniques. The panel will also explore the next steps in the global adoption of the terminology.
Alexander Malaket, Co-Chair of the ICC Academy Academic Committee and Chair of the Global Supply Chain Finance drafting group said: "Releasing a common terminology for supply chain finance will have a lasting positive impact for global business. Professionals and companies will be able to communicate and understand their international counterparties better, which will, in turn, enhance relationships and streamline business - promoting global economic growth."