Sullivan
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Major trade and export finance banks and financial institutions around the world rely on the highly respected advice of Sullivan’s Trade & Export Finance Group.

The market-leading London and New York-based practice advises clients on transactions across a wide range of jurisdictions, with a particular focus on emerging markets, including Africa, Asia, the Middle East and Latin America.

The team’s expertise and market-leading work has recently been recognised with prestigious industry accolades from both Global Trade Review (Best Trade or Supply Chain Finance Law Firm, 2026) and Trade Treasury Payments (Best Law Firm – Trade and Commodities, 2026), reflecting its continued excellence and leadership in the trade and export finance market.

Sullivan provides efficient, partner-led management of clients' trade and export finance interests and challenges. The team acts on complex deals involving all types of commodities, including softs, metals, and oil and gas and provides advisory services in relation to trade credit insurance as well as regulatory and compliance matters connected with the trade and export finance market. The team also counsels clients on fintech transactions and developments that are affecting and improving trade finance, globally.

The team has the depth, the experience and the attitude necessary to help clients close sophisticated transactions under challenging deadlines.

Bringing together multidisciplinary experience involving English law and New York law, as well as advising on cross-border issues and coordinating work on local law issues, the team’s commercially minded lawyers advise on:

  • Trade and commodity financing: trade finance instruments and the application of uniform rules of practice, pre-export financings, prepayment transactions, borrowing base, reserve base lending, inventory financings and commodity repos.
  • Receivables and payables financing: multi-jurisdictional supply chain finance programmes, invoice discounting, factoring and forfaiting transactions.
  • Structured financing: asset acquisitions, securitizations, hedges, credit derivatives and synthetic securitizations.
  • Digitalisation of trade finance, fintech and electronic banking: legal issues in relation to fintech, blockchain, electronic banking, digitalization of trade finance and ePUs.
  • Export Credit Agency and agency finance: short-, medium- and long-term ECA and multilateral finance.
  • Development finance: funding from development finance institutions (DFIs), multilateral development banks (MDBs) and blended finance structures to finance adaptation, mitigation, green and sustainable projects in growth and emerging markets.
  • Project finance: including adaptation and mitigation infrastructure projects.
  • Insurance: advising on all aspects of commercial insurance arrangements, including those that support trade finance, from policy wording negotiations to contested claims.
  • Trade disputes: representing clients in risk mitigation and dispute resolution, including arbitration, expert determination, court proceedings and alternative dispute resolution.
  • Compliance and regulation: advising on regulatory (Basel III), bribery and corruption issues, sanctions, anti-money laundering and counter terrorism issues, particularly in connection with trade and export finance.
  • Debt restructuring and distress: advising lenders and borrowers on the restructuring of sovereign and corporate credit facilities and on enforcement processes.

Clients & Industry Bodies

More than 50 major trade and export finance banks and financial institutions turn to Sullivan’s Trade & Export Finance Group for advice.

In addition, clients include investment funds, corporate borrowers, agents and trustees, national and international organizations, the insurance market and non-bank financial institutions (NBFIs).

The practice acts extensively for industry bodies including BAFT (the Bankers Association for Finance & Trade), ITFA (the International Trade and Forfaiting Association) and the ICC UK (the International Chamber of Commerce) on documentation and rules promulgated by them in trade finance. These include BAFT’s Master Participation Agreements (see Case Studies, below), ITFA’s new Uniform Rules for Transferable Electronic Payment Obligations (URTEPO) and the rules on the use of digital payment obligations, as well as the ICC on its Uniform Rules for Digital Trade Transactions (URDTT).

Accolades

Trade, Treasury & Payments

Global Trade Review

Trade Finance Global

  • Sullivan won the award for "Legal Innovation in Trade" at the Trade Finance Global (TFG) Trade, Treasury and Payment Awards 2023. 
  • Sullivan was named "Best Trade Finance Law Firm" in its International Trade Awards in 2022.

Directories

The Legal 500 UK, 2026

Chambers UK, 2026

  • Chambers UK, 2026 ranked Sullivan in Band 1 for Commodities: Trade Finance (UK-wide).
  • Partner Geoffrey Wynne is ranked as a ‘Star Individual’ – the only lawyer in the UK included in this category.
  • Simon Cook is Band 1-ranked in the guide’s Commodities: Trade Finance (UK-wide) category, Robert Parson in Band 2, and Mark Norris in Band 3.
  • Sullivan remains the only law firm with four ranked partners in the Commodities: Trade Finance (UK-wide) category in Chambers UK, 2026.

Chambers Global, 2026

  • Chambers Global, 2026 recognised Sullivan in its 2026 Africa-wide Banking & Finance table.
  • Simon Cook and Mark Norris are included as notable practitioners in the Africa-wide Banking & Finance spotlight section.

IFLR1000, 2025

  • Sullivan is recognised for Banking Lending - Lender Side, United Kingdom, by IFLR1000, 2025.
  • Geoffrey Wynne is ranked as a Leading Lawyer – Market Leader.
  • Simon Cook is recognized as a Leading Lawyer – Highly Regarded.

Publications

  • Together with Deutsche Bank and ITFA, Sullivan published the 3rd Edition of "A Guide to Receivables Finance." Edited by Geoffrey Wynne, and fully updated together with several market-leading industry experts, the third edition examines the changes that have occurred in law and practice for all those who participate in receivables finance, including across digitalization, fintech and regulation.
  • The 2nd Edition of “A Practitioner's Guide to Trade and Commodity Finance,” was published by Sweet & Maxwell, a division of Thomson Reuters. Edited by Geoffrey Wynne, the guide covers all aspects of trade and commodity finance, from pre-export and structured trade finance to the rise of supply chain finance as part of the techniques involved in receivables finance. This latest edition was extensively updated by the team in London and expands the first edition to cover developments in law and practice in this area.
Viewpoints
All Viewpoints
Late Payment Reform Proposals for SMEs
In a briefing note prepared for ITFA, Sullivan has highlighted the UK Government’s renewed push to address late payments through proposed reforms to the Late Payments Act. First introduced last year, the proposals would cap payment terms at 60 days for transactions involving small and medium-sized enterprises (SMEs). The UK Government says it is aiming to improve cash flow and reduce pressure across supply chains, but which in reality many believe this may disadvantage UK SMEs. The reforms were confirmed in the King’s Speech to Parliament on 13 May, in line with the Government’s declared commitment to fairer payment practices and stronger support for SMEs. If implemented, the changes could significantly affect contractual arrangements, particularly in industries with complex supply chains. The firm’s briefing note outlines key elements of the proposals and their potentially significant impact on businesses, including the need to review payment processes, financing structures and supplier relationships. ITFA says it intends to continue lobbying the UK government to reconsider the details of the proposals. To read the full Sullivan briefing note on the proposed Late Payment Law Reforms or please contact Geoffrey Wynne for further information.
Trade Finance Guide 2026
Reflecting the firm’s involvement in all aspects of trade finance, partner Geoffrey Wynne has contributed to the updated “Trade Finance Guide 2026,” described as “the definitive reference for trade finance professionals” and published jointly by Trade Treasury Payments (TTP) and the International Trade and Forfaiting Association (ITFA). The guide provides a practical, practitioner-focused overview of modern trade finance markets, covering core structures, products and risk dynamics. It explains how trade finance underpins global commerce by bridging payment gaps between buyers and sellers while mitigating risk through instruments such as letters of credit, guarantees, receivables finance and supply chain finance. It also outlines the roles of importers, exporters and financiers, and the legal and documentary frameworks supporting transactions, with an emphasis on robust structuring to ensure enforceability and repayment. In addition, the guide addresses key risk mitigants, including credit enhancement, insurance and risk distribution, alongside common challenges such as fraud, operational complexity and cross-border legal issues. Reflecting market evolution, it highlights trends including digitalisation, standardisation and the growing participation of non-bank investors. It is designed as an accessible resource for both new and experienced professionals seeking a clearer understanding of trade finance and its role in supporting the real economy.  The guide can be accessed and downloaded here.
Sullivan Advises Limak Construction on its Award-Winning ECA Financing
London – Sullivan & Worcester (Sullivan) has advised leading Turkish construction company Limak Construction on its award-winning export credit agency (ECA) financing arranged by Standard Chartered Bank and guaranteed by Swiss Export Risk Insurance SERV. This transaction won “Best ECA Syndicated Loan” at EMEA Finance's Achievement Awards in London. Sullivan continues to advise Limak Construction on its innovative ECA financings led out of London and Türkiye. The Sullivan team was led by partner Mark Norris, supported by partner Daniela Barrdear. About Sullivan Sullivan & Worcester (Sullivan) is a global law firm with lawyers in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes, the judgment of its lawyers, and its commitment to best in class client service. For further information please visit the firm’s website or LinkedIn.
Sullivan & Worcester Named “Best Trade or Supply Chain Finance Law Firm” at GTR Leaders in Trade Awards 2026
London, 26 June 2026 – Sullivan & Worcester (Sullivan) is pleased to announce that it has been named “Best Trade or Supply Chain Finance Law Firm” at the Global Trade Review (GTR) Leaders in Trade Awards 2026. The award was presented at GTR’s annual awards dinner in London last night. This latest recognition continues an exceptional year for the firm’s market-leading Trade & Export Finance practice and follows its success earlier this year having been named “Best Law Firm – Trade and Commodities, 2026” at the inaugural Trade Treasury & Payments (TTP) Awards. Together, the two awards reinforce Sullivan’s position at the forefront of the international trade finance legal market. They highlight the continued strengthening of the firm’s trade and export finance practice, which has expanded significantly over the past year with the arrival of partners Robert Parson and Matthew Cox. Geoffrey Wynne, head of Sullivan’s Trade & Export Finance Group, said: “To receive two of the industry’s most prestigious legal awards in the same year is a tremendous endorsement of our strategy and our team. We have expanded our capabilities, attracted exceptional talent and continue to advise clients across the full spectrum of trade, commodity, supply chain and export finance, including advising DFIs on complex international transactions and helping clients to navigate the impact of the digitalisation of trade. This recognition reflects not only the expertise and commitment of our team, but also the trust and loyalty of our clients, whose support enables us to continue growing and innovating. It is encouraging to be recognised by the market in such a meaningful way.” The GTR Leaders in Trade Awards recognise excellence and innovation across the global trade, commodity, supply chain and export finance markets, honouring organisations that are shaping the future of international trade finance. This latest award also follows the recent announcement of the arrival at Sullivan of a leading Emerging Companies and Venture Capital team, led by partners James Shaw, Iain Cockburn and Ben Williams, significantly enhancing the firm's transatlantic capabilities and accelerating its strategic growth in London. Further details are available here. About Sullivan Sullivan & Worcester is a global law firm with approximately 200 attorneys in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors, and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes and its commitment to best‑in‑class client service. For further information please visit the firm’s website and LinkedIn. Contacts Geoffrey Wynne Partner, Sullivan & Worcester gwynne@sullivanlaw.com +44 (0)20 7448 1001 Will Hulbert PR, Hulbert & Co. will@hulbertandco.com +44 (0)7774 108 699

Trade & Export Finance

Major trade and export finance banks and financial institutions around the world rely on the highly respected advice of Sullivan’s Trade & Export Finance Group.

The market-leading London and New York-based practice advises clients on transactions across a wide range of jurisdictions, with a particular focus on emerging markets, including Africa, Asia, the Middle East and Latin America.

The team’s expertise and market-leading work has recently been recognised with prestigious industry accolades from both Global Trade Review (Best Trade or Supply Chain Finance Law Firm, 2026) and Trade Treasury Payments (Best Law Firm – Trade and Commodities, 2026), reflecting its continued excellence and leadership in the trade and export finance market.

Sullivan provides efficient, partner-led management of clients' trade and export finance interests and challenges. The team acts on complex deals involving all types of commodities, including softs, metals, and oil and gas and provides advisory services in relation to trade credit insurance as well as regulatory and compliance matters connected with the trade and export finance market. The team also counsels clients on fintech transactions and developments that are affecting and improving trade finance, globally.

The team has the depth, the experience and the attitude necessary to help clients close sophisticated transactions under challenging deadlines.

Bringing together multidisciplinary experience involving English law and New York law, as well as advising on cross-border issues and coordinating work on local law issues, the team’s commercially minded lawyers advise on:

  • Trade and commodity financing: trade finance instruments and the application of uniform rules of practice, pre-export financings, prepayment transactions, borrowing base, reserve base lending, inventory financings and commodity repos.
  • Receivables and payables financing: multi-jurisdictional supply chain finance programmes, invoice discounting, factoring and forfaiting transactions.
  • Structured financing: asset acquisitions, securitizations, hedges, credit derivatives and synthetic securitizations.
  • Digitalisation of trade finance, fintech and electronic banking: legal issues in relation to fintech, blockchain, electronic banking, digitalization of trade finance and ePUs.
  • Export Credit Agency and agency finance: short-, medium- and long-term ECA and multilateral finance.
  • Development finance: funding from development finance institutions (DFIs), multilateral development banks (MDBs) and blended finance structures to finance adaptation, mitigation, green and sustainable projects in growth and emerging markets.
  • Project finance: including adaptation and mitigation infrastructure projects.
  • Insurance: advising on all aspects of commercial insurance arrangements, including those that support trade finance, from policy wording negotiations to contested claims.
  • Trade disputes: representing clients in risk mitigation and dispute resolution, including arbitration, expert determination, court proceedings and alternative dispute resolution.
  • Compliance and regulation: advising on regulatory (Basel III), bribery and corruption issues, sanctions, anti-money laundering and counter terrorism issues, particularly in connection with trade and export finance.
  • Debt restructuring and distress: advising lenders and borrowers on the restructuring of sovereign and corporate credit facilities and on enforcement processes.

Clients & Industry Bodies

More than 50 major trade and export finance banks and financial institutions turn to Sullivan’s Trade & Export Finance Group for advice.

In addition, clients include investment funds, corporate borrowers, agents and trustees, national and international organizations, the insurance market and non-bank financial institutions (NBFIs).

The practice acts extensively for industry bodies including BAFT (the Bankers Association for Finance & Trade), ITFA (the International Trade and Forfaiting Association) and the ICC UK (the International Chamber of Commerce) on documentation and rules promulgated by them in trade finance. These include BAFT’s Master Participation Agreements (see Case Studies, below), ITFA’s new Uniform Rules for Transferable Electronic Payment Obligations (URTEPO) and the rules on the use of digital payment obligations, as well as the ICC on its Uniform Rules for Digital Trade Transactions (URDTT).

Accolades

Trade, Treasury & Payments

Global Trade Review

Trade Finance Global

  • Sullivan won the award for "Legal Innovation in Trade" at the Trade Finance Global (TFG) Trade, Treasury and Payment Awards 2023. 
  • Sullivan was named "Best Trade Finance Law Firm" in its International Trade Awards in 2022.

Directories

The Legal 500 UK, 2026

Chambers UK, 2026

  • Chambers UK, 2026 ranked Sullivan in Band 1 for Commodities: Trade Finance (UK-wide).
  • Partner Geoffrey Wynne is ranked as a ‘Star Individual’ – the only lawyer in the UK included in this category.
  • Simon Cook is Band 1-ranked in the guide’s Commodities: Trade Finance (UK-wide) category, Robert Parson in Band 2, and Mark Norris in Band 3.
  • Sullivan remains the only law firm with four ranked partners in the Commodities: Trade Finance (UK-wide) category in Chambers UK, 2026.

Chambers Global, 2026

  • Chambers Global, 2026 recognised Sullivan in its 2026 Africa-wide Banking & Finance table.
  • Simon Cook and Mark Norris are included as notable practitioners in the Africa-wide Banking & Finance spotlight section.

IFLR1000, 2025

  • Sullivan is recognised for Banking Lending - Lender Side, United Kingdom, by IFLR1000, 2025.
  • Geoffrey Wynne is ranked as a Leading Lawyer – Market Leader.
  • Simon Cook is recognized as a Leading Lawyer – Highly Regarded.

Publications

  • Together with Deutsche Bank and ITFA, Sullivan published the 3rd Edition of "A Guide to Receivables Finance." Edited by Geoffrey Wynne, and fully updated together with several market-leading industry experts, the third edition examines the changes that have occurred in law and practice for all those who participate in receivables finance, including across digitalization, fintech and regulation.
  • The 2nd Edition of “A Practitioner's Guide to Trade and Commodity Finance,” was published by Sweet & Maxwell, a division of Thomson Reuters. Edited by Geoffrey Wynne, the guide covers all aspects of trade and commodity finance, from pre-export and structured trade finance to the rise of supply chain finance as part of the techniques involved in receivables finance. This latest edition was extensively updated by the team in London and expands the first edition to cover developments in law and practice in this area.
Viewpoints
All Viewpoints
Late Payment Reform Proposals for SMEs
In a briefing note prepared for ITFA, Sullivan has highlighted the UK Government’s renewed push to address late payments through proposed reforms to the Late Payments Act. First introduced last year, the proposals would cap payment terms at 60 days for transactions involving small and medium-sized enterprises (SMEs). The UK Government says it is aiming to improve cash flow and reduce pressure across supply chains, but which in reality many believe this may disadvantage UK SMEs. The reforms were confirmed in the King’s Speech to Parliament on 13 May, in line with the Government’s declared commitment to fairer payment practices and stronger support for SMEs. If implemented, the changes could significantly affect contractual arrangements, particularly in industries with complex supply chains. The firm’s briefing note outlines key elements of the proposals and their potentially significant impact on businesses, including the need to review payment processes, financing structures and supplier relationships. ITFA says it intends to continue lobbying the UK government to reconsider the details of the proposals. To read the full Sullivan briefing note on the proposed Late Payment Law Reforms or please contact Geoffrey Wynne for further information.
Trade Finance Guide 2026
Reflecting the firm’s involvement in all aspects of trade finance, partner Geoffrey Wynne has contributed to the updated “Trade Finance Guide 2026,” described as “the definitive reference for trade finance professionals” and published jointly by Trade Treasury Payments (TTP) and the International Trade and Forfaiting Association (ITFA). The guide provides a practical, practitioner-focused overview of modern trade finance markets, covering core structures, products and risk dynamics. It explains how trade finance underpins global commerce by bridging payment gaps between buyers and sellers while mitigating risk through instruments such as letters of credit, guarantees, receivables finance and supply chain finance. It also outlines the roles of importers, exporters and financiers, and the legal and documentary frameworks supporting transactions, with an emphasis on robust structuring to ensure enforceability and repayment. In addition, the guide addresses key risk mitigants, including credit enhancement, insurance and risk distribution, alongside common challenges such as fraud, operational complexity and cross-border legal issues. Reflecting market evolution, it highlights trends including digitalisation, standardisation and the growing participation of non-bank investors. It is designed as an accessible resource for both new and experienced professionals seeking a clearer understanding of trade finance and its role in supporting the real economy.  The guide can be accessed and downloaded here.
Sullivan Advises Limak Construction on its Award-Winning ECA Financing
London – Sullivan & Worcester (Sullivan) has advised leading Turkish construction company Limak Construction on its award-winning export credit agency (ECA) financing arranged by Standard Chartered Bank and guaranteed by Swiss Export Risk Insurance SERV. This transaction won “Best ECA Syndicated Loan” at EMEA Finance's Achievement Awards in London. Sullivan continues to advise Limak Construction on its innovative ECA financings led out of London and Türkiye. The Sullivan team was led by partner Mark Norris, supported by partner Daniela Barrdear. About Sullivan Sullivan & Worcester (Sullivan) is a global law firm with lawyers in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes, the judgment of its lawyers, and its commitment to best in class client service. For further information please visit the firm’s website or LinkedIn.
Sullivan & Worcester Named “Best Trade or Supply Chain Finance Law Firm” at GTR Leaders in Trade Awards 2026
London, 26 June 2026 – Sullivan & Worcester (Sullivan) is pleased to announce that it has been named “Best Trade or Supply Chain Finance Law Firm” at the Global Trade Review (GTR) Leaders in Trade Awards 2026. The award was presented at GTR’s annual awards dinner in London last night. This latest recognition continues an exceptional year for the firm’s market-leading Trade & Export Finance practice and follows its success earlier this year having been named “Best Law Firm – Trade and Commodities, 2026” at the inaugural Trade Treasury & Payments (TTP) Awards. Together, the two awards reinforce Sullivan’s position at the forefront of the international trade finance legal market. They highlight the continued strengthening of the firm’s trade and export finance practice, which has expanded significantly over the past year with the arrival of partners Robert Parson and Matthew Cox. Geoffrey Wynne, head of Sullivan’s Trade & Export Finance Group, said: “To receive two of the industry’s most prestigious legal awards in the same year is a tremendous endorsement of our strategy and our team. We have expanded our capabilities, attracted exceptional talent and continue to advise clients across the full spectrum of trade, commodity, supply chain and export finance, including advising DFIs on complex international transactions and helping clients to navigate the impact of the digitalisation of trade. This recognition reflects not only the expertise and commitment of our team, but also the trust and loyalty of our clients, whose support enables us to continue growing and innovating. It is encouraging to be recognised by the market in such a meaningful way.” The GTR Leaders in Trade Awards recognise excellence and innovation across the global trade, commodity, supply chain and export finance markets, honouring organisations that are shaping the future of international trade finance. This latest award also follows the recent announcement of the arrival at Sullivan of a leading Emerging Companies and Venture Capital team, led by partners James Shaw, Iain Cockburn and Ben Williams, significantly enhancing the firm's transatlantic capabilities and accelerating its strategic growth in London. Further details are available here. About Sullivan Sullivan & Worcester is a global law firm with approximately 200 attorneys in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors, and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes and its commitment to best‑in‑class client service. For further information please visit the firm’s website and LinkedIn. Contacts Geoffrey Wynne Partner, Sullivan & Worcester gwynne@sullivanlaw.com +44 (0)20 7448 1001 Will Hulbert PR, Hulbert & Co. will@hulbertandco.com +44 (0)7774 108 699

Trade & Export Finance

Trade & Export Finance

Trade & Export Finance

Major trade and export finance banks and financial institutions around the world rely on the highly respected advice of Sullivan’s Trade & Export Finance Group.

The market-leading London and New York-based practice advises clients on transactions across a wide range of jurisdictions, with a particular focus on emerging markets, including Africa, Asia, the Middle East and Latin America.

The team’s expertise and market-leading work has recently been recognised with prestigious industry accolades from both Global Trade Review (Best Trade or Supply Chain Finance Law Firm, 2026) and Trade Treasury Payments (Best Law Firm – Trade and Commodities, 2026), reflecting its continued excellence and leadership in the trade and export finance market.

Sullivan provides efficient, partner-led management of clients' trade and export finance interests and challenges. The team acts on complex deals involving all types of commodities, including softs, metals, and oil and gas and provides advisory services in relation to trade credit insurance as well as regulatory and compliance matters connected with the trade and export finance market. The team also counsels clients on fintech transactions and developments that are affecting and improving trade finance, globally.

The team has the depth, the experience and the attitude necessary to help clients close sophisticated transactions under challenging deadlines.

Bringing together multidisciplinary experience involving English law and New York law, as well as advising on cross-border issues and coordinating work on local law issues, the team’s commercially minded lawyers advise on:

  • Trade and commodity financing: trade finance instruments and the application of uniform rules of practice, pre-export financings, prepayment transactions, borrowing base, reserve base lending, inventory financings and commodity repos.
  • Receivables and payables financing: multi-jurisdictional supply chain finance programmes, invoice discounting, factoring and forfaiting transactions.
  • Structured financing: asset acquisitions, securitizations, hedges, credit derivatives and synthetic securitizations.
  • Digitalisation of trade finance, fintech and electronic banking: legal issues in relation to fintech, blockchain, electronic banking, digitalization of trade finance and ePUs.
  • Export Credit Agency and agency finance: short-, medium- and long-term ECA and multilateral finance.
  • Development finance: funding from development finance institutions (DFIs), multilateral development banks (MDBs) and blended finance structures to finance adaptation, mitigation, green and sustainable projects in growth and emerging markets.
  • Project finance: including adaptation and mitigation infrastructure projects.
  • Insurance: advising on all aspects of commercial insurance arrangements, including those that support trade finance, from policy wording negotiations to contested claims.
  • Trade disputes: representing clients in risk mitigation and dispute resolution, including arbitration, expert determination, court proceedings and alternative dispute resolution.
  • Compliance and regulation: advising on regulatory (Basel III), bribery and corruption issues, sanctions, anti-money laundering and counter terrorism issues, particularly in connection with trade and export finance.
  • Debt restructuring and distress: advising lenders and borrowers on the restructuring of sovereign and corporate credit facilities and on enforcement processes.

Clients & Industry Bodies

More than 50 major trade and export finance banks and financial institutions turn to Sullivan’s Trade & Export Finance Group for advice.

In addition, clients include investment funds, corporate borrowers, agents and trustees, national and international organizations, the insurance market and non-bank financial institutions (NBFIs).

The practice acts extensively for industry bodies including BAFT (the Bankers Association for Finance & Trade), ITFA (the International Trade and Forfaiting Association) and the ICC UK (the International Chamber of Commerce) on documentation and rules promulgated by them in trade finance. These include BAFT’s Master Participation Agreements (see Case Studies, below), ITFA’s new Uniform Rules for Transferable Electronic Payment Obligations (URTEPO) and the rules on the use of digital payment obligations, as well as the ICC on its Uniform Rules for Digital Trade Transactions (URDTT).

Accolades

Trade, Treasury & Payments

Global Trade Review

Trade Finance Global

  • Sullivan won the award for "Legal Innovation in Trade" at the Trade Finance Global (TFG) Trade, Treasury and Payment Awards 2023. 
  • Sullivan was named "Best Trade Finance Law Firm" in its International Trade Awards in 2022.

Directories

The Legal 500 UK, 2026

Chambers UK, 2026

  • Chambers UK, 2026 ranked Sullivan in Band 1 for Commodities: Trade Finance (UK-wide).
  • Partner Geoffrey Wynne is ranked as a ‘Star Individual’ – the only lawyer in the UK included in this category.
  • Simon Cook is Band 1-ranked in the guide’s Commodities: Trade Finance (UK-wide) category, Robert Parson in Band 2, and Mark Norris in Band 3.
  • Sullivan remains the only law firm with four ranked partners in the Commodities: Trade Finance (UK-wide) category in Chambers UK, 2026.

Chambers Global, 2026

  • Chambers Global, 2026 recognised Sullivan in its 2026 Africa-wide Banking & Finance table.
  • Simon Cook and Mark Norris are included as notable practitioners in the Africa-wide Banking & Finance spotlight section.

IFLR1000, 2025

  • Sullivan is recognised for Banking Lending - Lender Side, United Kingdom, by IFLR1000, 2025.
  • Geoffrey Wynne is ranked as a Leading Lawyer – Market Leader.
  • Simon Cook is recognized as a Leading Lawyer – Highly Regarded.

Publications

  • Together with Deutsche Bank and ITFA, Sullivan published the 3rd Edition of "A Guide to Receivables Finance." Edited by Geoffrey Wynne, and fully updated together with several market-leading industry experts, the third edition examines the changes that have occurred in law and practice for all those who participate in receivables finance, including across digitalization, fintech and regulation.
  • The 2nd Edition of “A Practitioner's Guide to Trade and Commodity Finance,” was published by Sweet & Maxwell, a division of Thomson Reuters. Edited by Geoffrey Wynne, the guide covers all aspects of trade and commodity finance, from pre-export and structured trade finance to the rise of supply chain finance as part of the techniques involved in receivables finance. This latest edition was extensively updated by the team in London and expands the first edition to cover developments in law and practice in this area.
Viewpoints
All Viewpoints
Late Payment Reform Proposals for SMEs
In a briefing note prepared for ITFA, Sullivan has highlighted the UK Government’s renewed push to address late payments through proposed reforms to the Late Payments Act. First introduced last year, the proposals would cap payment terms at 60 days for transactions involving small and medium-sized enterprises (SMEs). The UK Government says it is aiming to improve cash flow and reduce pressure across supply chains, but which in reality many believe this may disadvantage UK SMEs. The reforms were confirmed in the King’s Speech to Parliament on 13 May, in line with the Government’s declared commitment to fairer payment practices and stronger support for SMEs. If implemented, the changes could significantly affect contractual arrangements, particularly in industries with complex supply chains. The firm’s briefing note outlines key elements of the proposals and their potentially significant impact on businesses, including the need to review payment processes, financing structures and supplier relationships. ITFA says it intends to continue lobbying the UK government to reconsider the details of the proposals. To read the full Sullivan briefing note on the proposed Late Payment Law Reforms or please contact Geoffrey Wynne for further information.
Trade Finance Guide 2026
Reflecting the firm’s involvement in all aspects of trade finance, partner Geoffrey Wynne has contributed to the updated “Trade Finance Guide 2026,” described as “the definitive reference for trade finance professionals” and published jointly by Trade Treasury Payments (TTP) and the International Trade and Forfaiting Association (ITFA). The guide provides a practical, practitioner-focused overview of modern trade finance markets, covering core structures, products and risk dynamics. It explains how trade finance underpins global commerce by bridging payment gaps between buyers and sellers while mitigating risk through instruments such as letters of credit, guarantees, receivables finance and supply chain finance. It also outlines the roles of importers, exporters and financiers, and the legal and documentary frameworks supporting transactions, with an emphasis on robust structuring to ensure enforceability and repayment. In addition, the guide addresses key risk mitigants, including credit enhancement, insurance and risk distribution, alongside common challenges such as fraud, operational complexity and cross-border legal issues. Reflecting market evolution, it highlights trends including digitalisation, standardisation and the growing participation of non-bank investors. It is designed as an accessible resource for both new and experienced professionals seeking a clearer understanding of trade finance and its role in supporting the real economy.  The guide can be accessed and downloaded here.
Sullivan Advises Limak Construction on its Award-Winning ECA Financing
London – Sullivan & Worcester (Sullivan) has advised leading Turkish construction company Limak Construction on its award-winning export credit agency (ECA) financing arranged by Standard Chartered Bank and guaranteed by Swiss Export Risk Insurance SERV. This transaction won “Best ECA Syndicated Loan” at EMEA Finance's Achievement Awards in London. Sullivan continues to advise Limak Construction on its innovative ECA financings led out of London and Türkiye. The Sullivan team was led by partner Mark Norris, supported by partner Daniela Barrdear. About Sullivan Sullivan & Worcester (Sullivan) is a global law firm with lawyers in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes, the judgment of its lawyers, and its commitment to best in class client service. For further information please visit the firm’s website or LinkedIn.
Sullivan & Worcester Named “Best Trade or Supply Chain Finance Law Firm” at GTR Leaders in Trade Awards 2026
London, 26 June 2026 – Sullivan & Worcester (Sullivan) is pleased to announce that it has been named “Best Trade or Supply Chain Finance Law Firm” at the Global Trade Review (GTR) Leaders in Trade Awards 2026. The award was presented at GTR’s annual awards dinner in London last night. This latest recognition continues an exceptional year for the firm’s market-leading Trade & Export Finance practice and follows its success earlier this year having been named “Best Law Firm – Trade and Commodities, 2026” at the inaugural Trade Treasury & Payments (TTP) Awards. Together, the two awards reinforce Sullivan’s position at the forefront of the international trade finance legal market. They highlight the continued strengthening of the firm’s trade and export finance practice, which has expanded significantly over the past year with the arrival of partners Robert Parson and Matthew Cox. Geoffrey Wynne, head of Sullivan’s Trade & Export Finance Group, said: “To receive two of the industry’s most prestigious legal awards in the same year is a tremendous endorsement of our strategy and our team. We have expanded our capabilities, attracted exceptional talent and continue to advise clients across the full spectrum of trade, commodity, supply chain and export finance, including advising DFIs on complex international transactions and helping clients to navigate the impact of the digitalisation of trade. This recognition reflects not only the expertise and commitment of our team, but also the trust and loyalty of our clients, whose support enables us to continue growing and innovating. It is encouraging to be recognised by the market in such a meaningful way.” The GTR Leaders in Trade Awards recognise excellence and innovation across the global trade, commodity, supply chain and export finance markets, honouring organisations that are shaping the future of international trade finance. This latest award also follows the recent announcement of the arrival at Sullivan of a leading Emerging Companies and Venture Capital team, led by partners James Shaw, Iain Cockburn and Ben Williams, significantly enhancing the firm's transatlantic capabilities and accelerating its strategic growth in London. Further details are available here. About Sullivan Sullivan & Worcester is a global law firm with approximately 200 attorneys in Boston, London, New York, Tel Aviv and Washington, D.C. Sullivan’s clients, including Fortune 500 companies, leading financial services firms and asset managers, boards of directors, and emerging businesses, rely on Sullivan’s ability to navigate complex legal and operational landscapes and its commitment to best‑in‑class client service. For further information please visit the firm’s website and LinkedIn. Contacts Geoffrey Wynne Partner, Sullivan & Worcester gwynne@sullivanlaw.com +44 (0)20 7448 1001 Will Hulbert PR, Hulbert & Co. will@hulbertandco.com +44 (0)7774 108 699

Trade & Export Finance

Trade & Export Finance

Trade & Export Finance

Trade & Export Finance

Trade & Export Finance