Geneva, 8 June, 2012
Financiers and Traders have voted Cotecna the Best Collateral Management company for the second year in a row in the 2012 annual Trade Finance Excellence Awards.
Cotecna, one of the world’s leading Testing, Inspection and Certification (TIC) companies, has again been recognized for the quality of its services in the field of trade finance support services.
In today’s credit market environment, control and risk management are more than ever essential elements of success in structuring deals.
With a dedicated office-to-field network of specialists situated in key locations around the world, Cotecna provides lenders with tools to ensure that disbursements are applied in conformity with the purpose of the credit, and verifies that the transactions are performed in accordance with term sheets. Thus, by strengthening lenders’ control over their transactions, the service provides a more favourable loan classification, allowing solid, cost-effective, Basel II & III-compliant financing structures. All commodities, as well as general cargo and consumer goods, are covered.
Reporting can be performed through Vestalis®, Cotecna’s web-based application developed to provide trading clients and financiers with a single source of data about posted collateral on a real-time basis.
Matthieu Delorme, COO at Cotecna Trade Services, comments: “We are immensely proud to have been awarded recognition as the Best Collateral Manager in 2012 by the readers of Trade Finance Magazine, and grateful to all our clients and other stakeholders for this vote of confidence and the dedication and competence of our teams, who work daily next to our customers and on-site to provide the best quality of services.”
He adds: “Going forward, the challenges and opportunities are significant. We see that the model we have been advocating for some time whereby collateral managers constantly monitor pledged cargo for location, quantity, condition and quality, covered by solid legal documentation, logistical arrangements, and property as well as liability cover arrangements, is gaining ground. Cotecna will continue to contribute for all stakeholders to the strength of these structures to the full extent of its expertise and innovation capabilities”.
Vice President Corporate Communications
T +41 22 849 78 23
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Cotecna Trade Finance
Chief operating Officer
Cotecna Trade Services SA
T +41 22 849 78 36