CIT Commercial Services has entered into a strategic alliance with TradeCard to provide CIT’s credit protection on the TradeCard platform. The move will provide TradeCard vendors with the option to obtain credit protection from CIT instead of bank letters of credit. Using the TradeCard platform, companies can manage their credit-protected receivables online, according to CIT. Under the terms of a Factoring Agreement between CIT and each vendor, vendors may elect, on a transaction-by-transaction basis, to purchase credit protection from CIT. Payment for the receivable will be made by the buyer, or failing that, CIT, subject to the terms and conditions of the Factoring Agreement.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.