Trade finance

Trade finance signifies financing for trade, and it concerns both domestic and international trade transactions. A trade transaction requires a seller of goods and services as well as a buyer. Various intermediaries such as banks and financial institutions can facilitate these transactions by financing the trade.

Description

While a seller (or exporter) can require the purchaser (an importer) to prepay for goods shipped, the purchaser (importer) may wish to reduce risk by requiring the seller to document the goods that have been shipped. Banks may assist by providing various forms of support. For example, the importer's bank may provide a letter of credit to the exporter (or the exporter's bank) providing for payment upon presentation of certain documents, such as a bill of lading. The exporter's bank may make a loan (by advancing funds) to the exporter on the basis of the export contract.

Other forms of trade finance can include Documentary Collection, Trade Credit Insurance, Factoring or forfaiting. Some forms are specifically designed to supplement traditional financing.

Cyprus

Cyprus (ⁱ/ˈsaɪprəs/; Greek: Κύπρος [ˈcipros]; Turkish: Kıbrıs [ˈkɯbɾɯs]), officially the Republic of Cyprus (Greek: Κυπριακή Δημοκρατία; Turkish: Kıbrıs Cumhuriyeti), is an island country in the Eastern Mediterranean Sea, off the coasts of Syria and Turkey. Cyprus is the third largest and third most populous island in the Mediterranean, and a member state of the European Union. It is located south of Turkey, west of Syria and Lebanon, northwest of Israel, north of Egypt and east of Greece.

The earliest known human activity on the island dates to around the 10th millennium BC. Archaeological remains from this period include the well-preserved Neolithic village of Khirokitia, and Cyprus is home to some of the oldest water wells in the world. Cyprus was settled by Mycenaean Greeks in two waves in the 2nd millennium BC. As a strategic location in the Middle East, it was subsequently occupied by several major powers, including the empires of the Assyrians, Egyptians and Persians, from whom the island was seized in 333 BC by Alexander the Great. Subsequent rule by Ptolemaic Egypt, the Classical and Eastern Roman Empire, Arab caliphates for a short period, the French Lusignan dynasty and the Venetians, was followed by over three centuries of Ottoman rule between 1571 and 1878 (de jure until 1914).

Cyprus (disambiguation)

Cyprus may refer to:

Locations

Ships

Animals

See also

Cyprus (theme)

The Theme of Cyprus (Greek: θέμα Κύπρου, thema Kyprou) was a Byzantine military-civilian province, located in the island of Cyprus, established in the 960s after the reconquest of Cyprus by the Byzantine navy. Prior to this the island had been a Byzantine-Arab condominium for three centuries, except occasional short periods where it was occupied by either power. A rebellion by governor Theophilos Erotikos in 1042, and another in 1092 by Rhapsomates, failed as they were quickly subdued by imperial forces. At the end of the 12th century there were again separatist tendencies in Cyprus: Isaac Komnenos of Cyprus proclaimed himself as "basileus" (emperor) in 1185. Cyprus remained under his command until its conquest from Richard I of England in 1191.

Sources