Information is Key with Trade Finance Products

Finance (Photo credit: Tax Credits)

There are numerous definitions for trade finance that can be found. Essentially, it is a term that covers several activities. There are a number of tools that are used by financiers that determine how credit, cash, investments as well as other assets are used for trade. 
In a simple form an exporter will require an importer to prepay for items that are shipped. The importer wants to reduce his risk by asking the exporter to create a document proving the goods were shipped. The importer is assisted by the bank, which provides a letter of credit to the bank of the exporter or to the exporter directly. This statement proves that a payment will be made when certain documents are presented. 

Traditionally, trade finance occurs in the short or medium term and involves three activities; financing, payment facilitation and risk mitigation. These are the core components of trade finance, no matter what type of transaction is being completed. 

Credit Based Products

Currently, credit based products are mere commodities mainly due to the current levels of liquidity available throughout the world. Most large corporations are mostly interested in distributing the risk options and information through their international transactions and throughout their global chains of supply. 

Large corporations, including global retailers, currently have logistics capabilities and supply chain management that is similar to those in place for advanced military units. These are the retailers that drive the trade volume and help to define the expectations in the market that are related to trade banking services. 

Trade Banking

There are many opportunities for trade bankers in today’s markets. Almost every company relies on correspondent banking relationships in order to verify the legitimacy of a trade counter party. Trade banks may also be called upon to provide information to the overseas party because of increasingly stringent compliance levels. 

Consumers are now demanding and expecting real time tracking of all shipments, as well as the shipping documents and the financial flows that are related to the shipment. Taking a couple of days to check with a foreign bank and then get back to the customer is no longer an option.

In order to be this responsive there is a need for the appropriate technological investment. This includes investment in the backend of the business for transaction processing, as well as the side that faces the client. Web enabled solutions provide a number of information-rich reporting that is customisable. More and more clients demand to be able to see their portfolio at all times and to be able to view their trade transactions, across all financial institutions. 

Information Quality

When it comes to trade finance the quality of information provided by the company is becoming increasingly more important, as this is being demanded by consumers. It is now possible for financial institutes and trading companies to offer accurate and timely information regarding the exact status of the product and financial flows that are related to the imports and exports. This allows for quick identification of points for financial solutions, any risk mitigation options that are available, as well as advisory services that can be offered to their trade clients. A trade finance company with international experience is going to have the best data, information and choices available to its clients.

Trade finance and banking is a field that is being changed by technology. The best companies provide their customers with a plethora of information about the trade operations that they are involved with. This information can be the driving force of fundamental decisions that are made regarding whether or not services or products should be outsourced or if a company should maintain internal control. Information is the key to success when it comes to the world of trade finance. 

Ghosts and Graves: Boston's Infamous Haunts

No matter the time of year, people enjoy being frightened. With the booming popularity of ghost hunting shows, more people than ever before are looking for exciting haunts. Whether you live in Boston, are moving there, or are just a tourist, the city has some of the most fantastic ghost sites in the nation.

1.Boston Athenaeum Library

This library may be one of the most haunted private libraries in the country. Founded in 1807, ghosts have been rumored to roam the halls since the 1840s. Take a walk through the library and see if you catch a glimpse of Thaddeus Mason Harris reading the “Boston Post” as he did in life. You can also walk through the Boston Public Library if you’re looking for a scare. Hang out near the restrooms in the basement and see if you don’t get a shiver up your spine. 

2.Omni Parker Hotel

Many guests report having experiences in this quaint hotel. The hotel is so haunted, in fact, that the staff at the front desk has comprised a list of all of the sightings, and they will happily share the list if you ask. If you want a ghastly experience of your own, ask to stay in the single room that is purported to be haunted by a cigar-smoking entity. If you don’t experience any hauntings, don’t worry, the hotel is still full of history. JFK proposed to Jackie O at this hotel, and Malcolm X worked the floors as a bellman.

3.Copp’s Hill Burying Ground

If haunted cemeteries are to your liking, you’ll fall in instant love with Copp’s Hill. The spirits seem to roam free across the graveyard, especially at night. Visitors have caught ghostly apparitions on camera, particularly an elderly woman in Victorian dress. Established in 1659, the cemetery is the oldest in Boston and is no longer used for burials. Just because the burying ground isn’t welcoming any new guests does not mean you won’t be bumping into any of the old ones. 

4.George’s Island

If you travel the Boston Harbor, be sure to make a stop at George’s Island, or at least pass by. Keep your eyes peeled for the Lady in Black, a young woman dressed in black robes that wanders, or floats, across the grounds. The woman is said to be Mrs. Andrew Lanier, the wife of a soldier who was imprisoned on the island in 1861. During a prison break gone bad, the male Lanier was shot, and the Mrs. was subsequently hanged for the crime. 

5.Boston Commons

The Boston Commons was an area for a family-friendly walk, or a public hanging, given the day. The historic oak tree on the grounds was the site of many a hanging until the gallows were erected. Also located on the grounds is a central burying plot where some 900 bodies are said to be at eternal rest. If you’re looking for an authentic, ghostly experience, Boston Commons may, or may not, deliver. Visitors have reported seeing several apparitions, while other visitors have reported being let down.

The next time you’re looking for a thrill, take part in one of the many ghost tours available in Boston or, if you’re feeling adventurous, strike out on your own. One of the most haunted cities in the country, Boston doesn’t disappoint. If things that go bump in the night are right up your alley, visit any of the spots on this list.

Robin Knight is a movoto blogger. Check out the latest updates on Boston Real Estate and more about living in Boston.

Cost Effective Legal Advice for Families

Whether you are dealing with the breakdown of a relationship and would like to make sure that your children and yourself are well provided for in the future or you would like to make a cohabitation agreement with your partner to ensure that shared property does not become an issue in the future, there are solicitors around the country that can help to resolve your legal problems. However, not all of them charge the same or provide the same level of service when it comes to family law so it is a good idea to take your time and to shop around before hiring a solicitor to represent your interests. 

The following points may help you to get the most for your money when hiring a legal professional who specialises in the law as it pertains to families.

• Insist on an initial consultation, either by phone or in person, before making any financial commitment to the process. Any solicitor that is worth doing business with will be more than happy to offer basic advice on your case before they start charging for their time. If you come across a firm that is not willing to do so, simply move on to the next one in your shortlist. The world of legal advice is a competitive one and there is no point in wasting time on companies that are unwilling to recognise this fact and adjust their business model accordingly.
• Only deal with solicitors and legal firms that are members of Resolution. Resolution is an organisation of 6,500 family legal professionals and their membership is committed to helping clients resolve family legal disputes in a non-confrontational manner. This makes member firms and individuals a good choice for people who wish to keep their legal costs to a minimum as they can rely on these legal professionals to help them avoid costly court appearances whenever possible.
• Pick a firm that offers a comprehensive range of services. If you deal with a company that can handle all of your legal problems, it will make it much easier to keep a close eye on your overall costs and ensure that they do not start to get out of control. Firms such as GT Stewart Solicitors, which deal with divorce, domestic abuse, child custody and many other aspects of family law, are able to look after all the needs of people who wish to extricate themselves from a failing relationship and can provide a single point of contact that makes life simpler for those who already have plenty to deal with on a daily basis.
• Choose an organisation that is happy to accept publicly funded clients. If a firm of solicitors does not declare its willingness to deal with people in receipt of legal aid and its commitment to providing them with the same levels of service as privately funded clients, they may not be your best choice. Some firms are keener than others to help people that need their assistance but cannot pay for it themselves and in my experience, the ones that really want to will advertise this fact on their website and in their promotional literature.
• Following on from the above point, always take the time to find out what, if any, legal aid you are entitled to before you hire a solicitor. There are plenty of advice bureaus across the country staffed by volunteers who can help you to discover exactly what you are entitled to so it will not cost any money to establish your position. To check if you can get legal aid, you can complete an online questionnaire that will give you a good idea of your chances of receiving financial help. Any help that you can get will of course reduce your costs so be sure to investigate your options fully before you start any legal proceedings.

Conclusion
The reasons that people need to consult with lawyers who specialise in family law are not usually happy ones but it would be foolish to make a bad situation worse by failing to exercise due diligence when choosing a legal representative. Make sure that you get value for money by being selective about the types of firms and individual solicitors that you are prepared to hire.

About the Author:

GT Stewart in London is a law firm that provides legal advice and representation for various cases. Know how to arrange for GT Stewart solicitors by visiting gtstewart.co.uk.

What Are Your Payment Options for Assisted Living?

Most people want to be able to live on their own their whole lives. Unfortunately, your health may start to deteriorate to the point that you can no longer take care of yourself. 

Your family members may not be able to give you the care that you need either. You may need to eventually consider living in an assisted living facility.

Many people are reluctant to use one of these facilities because they feel they are worried about paying for it. Fortunately, there are several ways that you can pay for assisted living.

Utilize Long-Term Care Insurance

Long-term care insurance will pay for you to go into a nursing home or assisted living facility. The average policy for a 55 year old will cost about $3,500 a year. These policies clearly aren’t cheap, but you will probably be a lot better off purchasing them than trying to pay out of pocket down the road.

Most long-term care policies should cover everything that you need. The average policy will pay for about $4,470 worth of services a month. That is nearly 60% more than the median cost of living in an assisted living facility. 

However, you should ask your insurance carrier what services they will cover and find out how much different facilities cost long before you need them.

Consider a Bridge Loan While Selling Property

You may have trouble paying the premiums for long-term care insurance while you are still working. You may want to take out a bridge loan instead. Bridge loans will pay for your stay at an assisted living facility when you can’t afford to pay upfront. A number of companies offer them.

You will need several people to cosign the loan for you. They will be collectively responsible for making the payments while you are in the assisted living facility. However, one person will usually be appointed to be responsible for making the payments.

The rates on these loans are usually very reasonable. They typically offer a line of credit of up to $50,000 with the same rates as secured home loans. They are ideal for people who are in the process of selling their homes to pay for assisted living.

Look into Medicaid and Medicare Coverage

Many people are unrealistic about what Medicare and Medicaid will cover. They typically aren’t feasible payment options when you have other options available. However, you may still be able to take advantage of them.

Most states offer some form of Medicaid waiver that will allow you to pay for some of your assisted living costs. However, residents in Louisiana, Kentucky, Alabama, Pennsylvania, and South Carolina do not offer such coverage. 

You may want to consider relocating to another state if you are a Medicaid recipient and suspect that you may need to enter an assisted living facility within the next few years.

Medicare is also an option worth considering, but you generally can’t use your Medicare coverage until all other options have been exhausted. You will need to deplete all of your assets first.

About the author:

Kalen is a freelance finance and lifestyle writer. He shares tips to help seniors live comfortably after retirement, such as using Senior Apartments in Kalamazoo Michigan.

How Businesses Can Stay On Top of the Hiring Process

One of the largest investments a business makes is in its employees and payroll. From health benefits to worker's compensation, employees cost a lot to hire and keep on, but they bolster the company and fly it into higher realms of success. Staying on top of the hiring process is one of the best ways to vet prospective employees, and find top-notch candidates for your niche workplace. 

Paperwork Pile

Although it is a tedious job, screening for drugs and criminal activity is a must before offering the candidate a position. Liabilities abound if a known drug-user operates workplace machinery, and an employee ends up injured. Check that human resources is completing paperwork and research prior to any job offers.

Call Around

Everyone has some professional contacts, but they are often bound by legal protocol. True insight into an individual starts with their friends. Ask for a personal reference and follow up on it. A candidate with only moderate skills may shine brightly after talking to their best friend from elementary school. A workplace is not just a cluster of random people, but forms a unique culture that is either productive or lackluster.

Interview, and Then Interview

You may have several candidates, such as those applying through job listings for media sales, that were actually found through headhunters. Although they have the skills necessary for the position, they may not be completely on board with a new employer. Instead of one interview and an automatic hire, interview the candidate two more times, but under different circumstances. Invite them to a lunch hour to see employee chemistry in action, for example. Candidates looking for an outgoing type of position, like advertising sales jobs, must possess good social skills to create clients and support other loyal customers.

Be Clear

The first three months of employment tells a lot about a candidate. Once acclimated, you see the person's true character on a day-to-day basis. If the employee is unhappy, it shows through immediately after the initial honeymoon period. These three month probationary periods provide a cushion for the employer to remove the candidate, and search for a new person, without the threat of legal retribution.

Employees provide support customers need for continued sales and service. By treating employees respectfully during the hiring process, you reflect potential treatment as a long-term employee. The key to staying on top of the hiring process is clear communication between the candidate and employer, along with thorough research and interviewing.

Experience the Luck of the Irish in Boston: Here's How

According to a Washington Post article, the U.S. Census Bureau found there are seven times more people who list their ancestries as Irish-American than individuals in the entire country of Ireland. If you’ve decided to make Boston your home, it’s easier to experience the Irish culture there than in any other American city. That’s because Boston has the highest concentration of Irish residents there -- 20.4 percent to be exact. Keep reading to learn where to hang out if you want to get an authentically Irish experience without splurging on international airfare.

Visit the Irish Pastoral Center

Describing itself as a “parish without boundaries,” Boston’s Irish Pastoral Center focuses on being a resource for Irish people who’ve recently arrived in Boston. There, you can find counseling services, outreaches for families and senior citizens, plus citizenship assistance. Many of the people on staff there are originally from Ireland, so whether you have the heritage or just enjoy being around people who do, make sure to check out the organization and avail of the guidance there if you need it while getting settled.

Join the Boston Branch of the Irish Network

The Irish Network is made up of companies and individuals across America who have ties to Ireland and a desire to network with each other. The $50 annual membership fee for the Boston version of the group grants you access to social events, a database of Irish-related businesses and plenty of opportunities to share knowledge with your peers and learn from them at the same time.

Read the Boston Irish Reporter

This themed newspaper is available at newsstands around Massachusetts and the surrounding New England states, but you can also read PDF copies for free via the Internet. Consider perusing them before you move to the area and afterwards too. Then you’ll have the scoop on all the latest Irish happenings in Boston, including must-attend events and relevant news.

Dine at The Kinsale Irish Pub and Restaurant

Kinsale is a charming fishing village located in County Cork, Ireland. After you visit this Boston favorite, you’ll see it has all the allure the Irish town is known for. This Boston landmark is situated in the Government Center and the interior is filled with decorations and trinkets that were made in Ireland. You’re sure to get an authentic experience here, as the crowd is usually comprised of a lively bunch of both locals and tourists. There’s free live music in the bar each night, and patio seating available in nice weather.

Take a Step Dancing Class in Somerville

On the first and third Mondays of the month, consider taking the subway to Somerville. From the Boston South Station, board the Red Line train towards Alewife and get off at the Davis stop. Once in Somerville, find your way to The Burren, located on Elm Street in Davis Square, Irish step dancing classes are offered there by Ger Cooney at 8 p.m. Admission is $8, and beginners are welcome. Even if you have trouble keeping up with the energetic pace the dance style is known for, you’ll at least have an enjoyable soundtrack courtesy of the live band that plays at the front bar during each class.

Whether you’re Irish by blood or Irish at heart, the list you’ve just read should give you a great start in surrounding yourself with Irish people while in Boston. Have fun!

Robin Knight blogs for Movoto where you'll find more about fun things you can do in Boston.