POLYTRADE is a blockchain-based decentralized protocol that aims to transform receivables financing & connect buyers, sellers, insurers, & investors for a seamless trading experience.
What chain is Polytrade?
Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, and investors for a seamless experience. It brings safe and insurance-backed real-world assets to the crypto world.
What can does Polytrade operate on?
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How do I buy Polytrade coins?
How to buy Polytrade
Who is the founder of Polytrade?
What is trade in banking terms?
Trade finance allows companies to receive a cash payment based on accounts receivables in case of factoring. A letter of credit might help the importer and exporter to enter a trade transaction and reduce the risk of nonpayment or non-receipt of goods.
Why do we trade Poly?
Polytrade is a blockchain-based decentralized protocol aiming to transform receivables financing connecting buyers, sellers, insurers, and investors for a seamless experience. It will provide real-world borrowers access to low interest and swift financing to free up critical working capital tapped from crypto lenders.
Who is PolyTrade advisor?
Piyush Gupta – Founder – PolyTrade | LinkedIn.
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What is a trade payment?
Trade Payment means a payment made under a contract of insurance by an insurer to a third party supplier to replace or repair the insured’s goods which were lost, damaged or destroyed; Sample 1Sample 2Sample 3.
What are the risks associated with trade finance?
The risks discussed are:
What are the 3 elements of trade finance?
Invoice Discounting or Invoice Factoring. Export Credit (Packing Credit) Insurance.
What are the disadvantages of trade credit?
What are the main disadvantages of trade credit?
What are the benefits of trade credit?
Improve buyer loyalty Supplier trade credit can prevent buyers from looking elsewhere and strengthens the supplier-buyer relationship. Trade credit relies on trust between the two parties, good communication, and a mutually-beneficial relationship that can reinforce loyalty.
Is trade finance high risk?
Also, because trade finance can be more document-based than other banking activities, it can be susceptible to documentary fraud, which can be linked to money laundering, terrorist financing, or the circumvention of OFAC sanctions or other restrictions (such as export prohibitions, licensing requirements, or controls).
What is the purpose of trade finance?
This working capital solution facilitates the buying and selling of products. Often, trade finance is used to bridge the gap between the purchase of product and payment by the end customer.
How do banks make money from trade finance?
Banks generally make money by borrowing money from depositors and compensating them with a certain interest rate. The banks will lend the money out to borrowers, charging the borrowers a higher interest rate and profiting off the interest rate spread.
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Is trade finance a loan?
Trade loans are flexible, short-term borrowing facilities, linked to specific import or export transactions. They are available for firms regardless of the method they use to trade, whether open account, collections or documentary credit basis.
Is trade finance a good career?
Trade Finance is generally a big enough vertical in its own right to offer good career growth prospects. It is entirely possible to move in and out of various corporate banking roles, but if you really are a specialist in your field, you would be better served by sticking to what you know.
What do I need to know about trade finance?
Trade finance covers different types of activities including issuing letters of credit, lending, forfaiting, export credit and financing, and factoring. The trade financing process involves several different parties, including the buyer and seller, the trade financier, export credit agencies, and insurers.
Why is trade credit not ideal?
Of course, there are also some potential drawbacks to offering trade credit. Extending trade credit puts you at a greater risk for bad debts compared to requiring immediate payments. Your cash flow can be compromised based on your net payment terms and late payments can reduce your working capital.
How do you use trade credit?
Trade credit is a business-to-business (B2B) agreement in which a customer can purchase goods without paying cash up front, and paying the supplier at a later scheduled date. Usually, businesses that operate with trade credits will give buyers 30, 60, or 90 days to pay, with the transaction recorded through an invoice.
Why is trade credit costly?
Trade credit is costly for firms that compensate at the end of a discount period by forgoing discounts, the companies incur costs for financing. In case the company fails to pay within the stipulated time, they may end up paying additional charges for late payment.
Does trade credit have interest?
Unlike a loan from a bank, trade credit is usually interest free – which means a business only needs to pay back the amount equal to the value of the goods they purchased without any additional fees.
What is the cost of trade credit?
It is often regarded as a form of interest-free loan. However, some suppliers encourage early repayment by giving a discount for early payment. The cost of trade credit determines the “interest” the purchaser incurs by not taking the discount.
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What is trade credit limit?
A trade credit. limit is a policy instrument that applies either a maximum. dollar receivables balance or a maximum order amount to a. specific buyer.
Is trade finance a regulated activity?
Trade finance has been identified as a potential conduit for money laundering and it has increasingly come under the spotlight as a means of breaching sanctions regulations.
Is trade finance regulated?
Practitioners recognise that trade finance requires a stable and soundly-regulated global financial system. But trade finance being of central importance to growth and an inherently low-risk activity, it warrants being handled with care.
How does trade finance reduce risk?
Trade finance services introduce a third party, such as a bank, and cover a range of finance products and services, such as a letter of credit or bank guarantee. Trade finance solutions reduce risks, such as currency fluctuations, political instability and issues of non-payment.
What is trade finance companies?
Trade finance providers include funding institutions, banks, funds or alternative financiers, who provide capital for the physical buying and selling of goods.
Is trade finance unsecured?
It’s completely unsecured (no debenture, no title over goods; won’t conflict with existing banking relationships, no public charges at companies house).
What is guarantee in trade finance?
Guarantees. It is a contract released by bank for its customer, who has signed an agreement to purchase goods from a supplier and agrees to fulfil any financial obligations to the supplier in case of default. In other words, if the debtor fails to settle a debt, the bank will cover it.
What does a trade finance consultant do?
Trade finance specialists help companies develop and implement effective trade finance programmes. A good finance specialist always ensures, develops and monitors optimal risk management to promote sustainable business growth.
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What is a trade specialist?
An international trade specialist is a professional who analyzes foreign trade and the global economy and uses the insights they glean to advise and guide strategic business decisions for a variety of clients. They may work for corporations, nonprofits, or government agencies.
When should trade credit be used?
Trade credit allows businesses to receive goods or services in exchange for a promise to pay the supplier within a set amount of time. New businesses often have trouble securing financing from traditional lenders; buying inventory, for example, on trade credit helps increase their purchasing power.
What is trade credit in simple words?
Trade credit means many things but the simplest definition is an arrangement to buy goods and/or services on account without making immediate cash or cheque payments. Trade credit is a helpful tool for growing businesses, when favourable terms are agreed with a business’s supplier.
What is trade credit example?
Example. For example, goods are sold on credit by the supplier to one of its customers, amounting to $20,000. The credit was granted as per the term of sale with 3/15 net 40. Now, according to terms, a $20,000 trade credit is given to the customer for 40 days from the date of the invoice issued.
Why do we trade Poly?
The most secured form of trade finance where open account trade invoices are secured by insurance and assigned to Polytrade platform for collection when due. It provides early liquidity to exporters and a secured short-term liquid asset to investors/lenders.
Who is PolyTrade advisor?
Piyush Gupta – Founder – PolyTrade | LinkedIn.