Helaba opts for TLM Trade Finance

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02 February 2010

Germany’s Helaba Group has selected TLM Trade Finance to automate its letters of credit and guarantees business.

German financial services firm Helaba Group has selected SmartStream Technologies’ TLM Trade Finance to automate its letters of credit and guarantees business processes.

Frankfurt-based Helaba is one of Germany’s leading Landesbanks, with total assets of Eu185 billion and serving approximately five million customers. The bank operates as a centralised organisation, supplying a range of products and services to savings and commercial banks across the Hesse and Thuringia regions.

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Poll

Will Russia’s recent ban on grain exports result in a significant rise in private risk insurance claims from grain traders unable to fulfil their contracts?

Yes – there will be more claims. The government’s actions allow traders, with PRI cover, to make claims through contract frustration.

No - the majority of Russia’s wheat production, some 70%-80%, is used for domestic consumption so the contracts represent only a small portion of the total wheat market, limiting the amount of potential claims.

23%

No - traders had a week’s notice before the ban allowing them to secure alternative supplies to fulfil contracts stated as optional origin.

23%

Maybe - but claims are likely to be limited to traders dealing in soft wheat whose contracts demand they source wheat only from Russia.

46%