Cotecna has emerged the Best Collateral Management Company for the second year in a row in the 2012 annual Trade Finance Excellence Awards.
Cotecna has emerged 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. Commenting on the development, Chief Operating Officer of Cotecna, Matthieu Delorme, at Cotecna Trade Services said, in today’s credit market environment, control and risk management are more than ever essential elements of success in structuring deals”.
According to him, 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 and III-compliant financing structures.
The Chief Operating Officer noted that in so doing, “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, at Cotecna Trade Services, said further: “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.”
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