The International Chamber of Commerce (ICC) has released a list of standard definitions for techniques of supply chain finance (SCF), developed jointly with Baft, the Euro Banking Association (EBA), Factors Chain International (FCA) and the International Trade and Forfaiting Association (ITFA).

The initiative is a step towards the much-needed standardisation of the SCF industry: at an SCF event attended by GTR today (March 9) in Frankfurt, delegates unanimously expressed their frustration at the lack of harmonisation in the sector.