Trade Finance Basics
This financial document guarantees that a buyer's payment to a seller will be received on time and for the correct amount.
What is a Letter of Credit (LC)?
This tree-letter acronym refers to the process fo verifiying the identity of a customer to prevent financial fraud.
What is KYC (Know your Customer)?
This is the currency used in both Germany and Poland.
What is the Euro?
In Scrum, this person is responsible for maximizing the value of the product and managing the Product Backlog.
Who is the Product Owner (PO)?
This technology is replacing paper-based Trade Finance documents with digital versions to increase efficiency and security.
What is Digitalization?
This international organization defines standardized reles for Trade Finance instruments such as UCP 600 and Incoterms.
What is the International Chamber of Commerce (CCC)?
These regulations require financial institutions to detect and prevent the movement of illicit funds across borders.
What is Anti-Money Laundering (AML)?
A river in Poland also flows through Germany before reaching the Baltic Sea.
What is the Oder (Odra) River?
This Agile event in Scrum may occur at the end of the sprint and focuses on reflecting on what went well, what did not, and how to improve.
What is the Sprint Retrospective?
This techology, often associated with cryptocurrencies, is being used to create tamper-proof digital Trade Finance records.
What is Blockchain?
This term describes an arrangement where a seller receives payment for goods before they are shipped, reducing risk but potentially deterring buyers.
What is Advance Payment?
This global regulatory framework establishes risk-based capital requirements for banks, affecting trade finance transactions
This German automative brand has one of its largest production plants in Poznan, Poland?
What is Volkswagen (VW)?
This Agile principle emphasizes delivering small, incremental changes rather than bing-bang releases.
What is Continous Delivery (CD)?
In Trade Finance, this type of contract is self-executing with predefined rules and is stored on a blockchain.
What is a Smart Contract?
This type of financing helps businesses bridge the gap between paying suppliers and receiving payment from customers, often used for import/export transactions.
What is Supply Chain Finance (SCF)?
This EU regulation, introduced in 2018, governs the processing and storing of personal data and has significant implications for financial institutions handling client information.
What is the General Data Protection Regulation (GDPR)?
According to preliminary data from the Federal Statistical Office in Germany, this country was replaced last year from fourth place of the most important export targets for German goods by Poland.
What is China?
In Kanban, this rule limits the number of tasks that can be in progress at the same time to improve efficiency.
What is Work in Progress (WIP) Limit?
This industry initiative aims to standardize APIs in Trade Finance, allowing seamless integration between banks and corporate clients.
What is the Banking Industry Architecture Network (BIAN)?
This Trade Finance instrument allows the seller to discount a receivable before maturity, providing immediate liquidity while the buyer pays at a later agreed date.
What is Forfaiting?
This international body issues recommendations, which set global standards for combating money laundering and terrorist financing.
What is the Financial Action Task Force (FATF)?
The border between Germany and Poland features Europeans largest artifical lake system, created for mining but now it is a unique natural habitat.
What is the Lusatian Lake District?
This Agile framework is often used in large enterprises to scale Agile practices across multiple teams.
What is SAFe (Scaled Agile Framework)?
This global initiative promotes the use of a unfied legal framework for electronic trade documents to facilitate cross-border transactions.
What is the Model Law of Electronic Transferable Records (MLETR)?