Rajah & Tann Singapore has been assisting the Association of Banks in Singapore (“ABS”) with drafting and negotiating the contracts relating to the development and implementation of the Trade Finance Registry (“TFR”) platform, including the developer and operator vendor agreements, as well as the participant rulebook. We also advised the ABS on relevant regulatory issues relating to trade, banking and finance, and data privacy.
The TFR initiative is a national-level project spearheaded by the ABS and its member banks. It is an interoperable trade finance utility aimed at improving the transparency of transactions and bridging the information asymmetry among banks in order to detect multiple financing fraud; and validate the genuineness of trade documents.
The matter is led by Partners Rajesh Sreenivasan and Justin Lee.
Read more about the project here.
