Sullivan
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  • Lloyds Bank on the template structure for what is described as the UK’s first digital ‘promissory note’ purchase, structured in this specific way. It represents the first transaction to use ITFA’s Digital Negotiable Instrument initiative (DNI) issued using Enigio’s solution trace; original
  • African Export-Import Bank on two multi-bank financings for a major southern African utility company secured on the back of utility receivables, to finance amongst other the development/expansion of the borrower’s physical infrastructure; and factoring financings for a number of the bank’s SME customers across various African jurisdictions
  • Marco Polo Network, the world's first blockchain-enabled, distributed network of trade finance and payment solutions to produce two rulebooks for its Marco Polo platforms under English law and the equivalents under New York law
  • ITFA on the development and launch of the new Uniform Rules for Transferable Electronic Payment Obligations (URTEPO). As new technology and legislation enables the creation of electronic payment obligations, this new - and unique - set of rules covers the transfer of these obligations
  • The ITFA Board in connection with various market-led insurance related matters. In September 2021, ITFA and Sullivan & Worcester issued joint guidance to ITFA members on the use of compounded Risk-Free Reference Term Rates in Trade and Export Finance as a replacement for LIBOR
  • ITFA’s Insurance Committee on its move towards the development of a Basel III trade credit insurance policy form. The result of three years of work and negotiations, it was released in October 2021. This new form covers receivables policies and is also a platform for devising compliant policies for other situations and products to encourage banks, insurance companies, law firms and brokers to move in the same direction to grow the overall industry
  • BAFT in updating its English law and New York law Master Participation Agreements (MPA) and associated usage guidelines, to reflect the cessation of the use of LIBOR.The suite of MPAs are industry standard documents used by banks and their counterparties around the globe to facilitate the buying and selling of country and bank trade-related assets. (See case study pull out)
  • JP Morgan and UKEF on a $92 million loan to the Ministry of Finance and Economy, Ghana and the Ministry of Roads and Highways, Ghana for the upgrading of a 17km stretch of the existing Tema-Aflao Road in the greater Accra region
  • UK Export Finance (UKEF), as lender, and Nedbank CIB of South Africa, as agent, in relation to a loan to finance a health infrastructure project, to be delivered by NMS Infrastructure Limited. It is provided under a £244 million contract to design, construct, equip and operate three 200-bed district hospitals and 108 21-bed rural healthcare clinics in Zambia. The loan is the first of its kind by the UK Government into Zambia and the largest ever direct loan from the UK into the continent of Africa
  • Contracta UK in relation to a number of transactions including a £110 million investment to be provided to upgrade the Kumasi teaching hospital, the main regional hospital for the Ashanti region in south Ghana
  • NMS Infrastructure in relation to a UKEF-backed €326 million project with the Côte d’Ivoire Ministry of Health and Public Hygiene for the design, construction and equipping of six new hospitals, as well as post-completion training and technical support
  • Sullivan advises many of its bank and financial institution clients on the use of insurance as a means of risk transfer across a variety of transactions including project finance, receivables finance trade and commodity and export credit finance. It also advises clients on the use of insurance by credit institutions and investments firms as credit risk mitigation for capital adequacy purposes under the UK Capital Requirements Regulation

Matters

  • Lloyds Bank on the template structure for what is described as the UK’s first digital ‘promissory note’ purchase, structured in this specific way. It represents the first transaction to use ITFA’s Digital Negotiable Instrument initiative (DNI) issued using Enigio’s solution trace; original
  • African Export-Import Bank on two multi-bank financings for a major southern African utility company secured on the back of utility receivables, to finance amongst other the development/expansion of the borrower’s physical infrastructure; and factoring financings for a number of the bank’s SME customers across various African jurisdictions
  • Marco Polo Network, the world's first blockchain-enabled, distributed network of trade finance and payment solutions to produce two rulebooks for its Marco Polo platforms under English law and the equivalents under New York law
  • ITFA on the development and launch of the new Uniform Rules for Transferable Electronic Payment Obligations (URTEPO). As new technology and legislation enables the creation of electronic payment obligations, this new - and unique - set of rules covers the transfer of these obligations
  • The ITFA Board in connection with various market-led insurance related matters. In September 2021, ITFA and Sullivan & Worcester issued joint guidance to ITFA members on the use of compounded Risk-Free Reference Term Rates in Trade and Export Finance as a replacement for LIBOR
  • ITFA’s Insurance Committee on its move towards the development of a Basel III trade credit insurance policy form. The result of three years of work and negotiations, it was released in October 2021. This new form covers receivables policies and is also a platform for devising compliant policies for other situations and products to encourage banks, insurance companies, law firms and brokers to move in the same direction to grow the overall industry
  • BAFT in updating its English law and New York law Master Participation Agreements (MPA) and associated usage guidelines, to reflect the cessation of the use of LIBOR.The suite of MPAs are industry standard documents used by banks and their counterparties around the globe to facilitate the buying and selling of country and bank trade-related assets. (See case study pull out)
  • JP Morgan and UKEF on a $92 million loan to the Ministry of Finance and Economy, Ghana and the Ministry of Roads and Highways, Ghana for the upgrading of a 17km stretch of the existing Tema-Aflao Road in the greater Accra region
  • UK Export Finance (UKEF), as lender, and Nedbank CIB of South Africa, as agent, in relation to a loan to finance a health infrastructure project, to be delivered by NMS Infrastructure Limited. It is provided under a £244 million contract to design, construct, equip and operate three 200-bed district hospitals and 108 21-bed rural healthcare clinics in Zambia. The loan is the first of its kind by the UK Government into Zambia and the largest ever direct loan from the UK into the continent of Africa
  • Contracta UK in relation to a number of transactions including a £110 million investment to be provided to upgrade the Kumasi teaching hospital, the main regional hospital for the Ashanti region in south Ghana
  • NMS Infrastructure in relation to a UKEF-backed €326 million project with the Côte d’Ivoire Ministry of Health and Public Hygiene for the design, construction and equipping of six new hospitals, as well as post-completion training and technical support
  • Sullivan advises many of its bank and financial institution clients on the use of insurance as a means of risk transfer across a variety of transactions including project finance, receivables finance trade and commodity and export credit finance. It also advises clients on the use of insurance by credit institutions and investments firms as credit risk mitigation for capital adequacy purposes under the UK Capital Requirements Regulation

Matters

Matters

Matters

  • Lloyds Bank on the template structure for what is described as the UK’s first digital ‘promissory note’ purchase, structured in this specific way. It represents the first transaction to use ITFA’s Digital Negotiable Instrument initiative (DNI) issued using Enigio’s solution trace; original
  • African Export-Import Bank on two multi-bank financings for a major southern African utility company secured on the back of utility receivables, to finance amongst other the development/expansion of the borrower’s physical infrastructure; and factoring financings for a number of the bank’s SME customers across various African jurisdictions
  • Marco Polo Network, the world's first blockchain-enabled, distributed network of trade finance and payment solutions to produce two rulebooks for its Marco Polo platforms under English law and the equivalents under New York law
  • ITFA on the development and launch of the new Uniform Rules for Transferable Electronic Payment Obligations (URTEPO). As new technology and legislation enables the creation of electronic payment obligations, this new - and unique - set of rules covers the transfer of these obligations
  • The ITFA Board in connection with various market-led insurance related matters. In September 2021, ITFA and Sullivan & Worcester issued joint guidance to ITFA members on the use of compounded Risk-Free Reference Term Rates in Trade and Export Finance as a replacement for LIBOR
  • ITFA’s Insurance Committee on its move towards the development of a Basel III trade credit insurance policy form. The result of three years of work and negotiations, it was released in October 2021. This new form covers receivables policies and is also a platform for devising compliant policies for other situations and products to encourage banks, insurance companies, law firms and brokers to move in the same direction to grow the overall industry
  • BAFT in updating its English law and New York law Master Participation Agreements (MPA) and associated usage guidelines, to reflect the cessation of the use of LIBOR.The suite of MPAs are industry standard documents used by banks and their counterparties around the globe to facilitate the buying and selling of country and bank trade-related assets. (See case study pull out)
  • JP Morgan and UKEF on a $92 million loan to the Ministry of Finance and Economy, Ghana and the Ministry of Roads and Highways, Ghana for the upgrading of a 17km stretch of the existing Tema-Aflao Road in the greater Accra region
  • UK Export Finance (UKEF), as lender, and Nedbank CIB of South Africa, as agent, in relation to a loan to finance a health infrastructure project, to be delivered by NMS Infrastructure Limited. It is provided under a £244 million contract to design, construct, equip and operate three 200-bed district hospitals and 108 21-bed rural healthcare clinics in Zambia. The loan is the first of its kind by the UK Government into Zambia and the largest ever direct loan from the UK into the continent of Africa
  • Contracta UK in relation to a number of transactions including a £110 million investment to be provided to upgrade the Kumasi teaching hospital, the main regional hospital for the Ashanti region in south Ghana
  • NMS Infrastructure in relation to a UKEF-backed €326 million project with the Côte d’Ivoire Ministry of Health and Public Hygiene for the design, construction and equipping of six new hospitals, as well as post-completion training and technical support
  • Sullivan advises many of its bank and financial institution clients on the use of insurance as a means of risk transfer across a variety of transactions including project finance, receivables finance trade and commodity and export credit finance. It also advises clients on the use of insurance by credit institutions and investments firms as credit risk mitigation for capital adequacy purposes under the UK Capital Requirements Regulation

Matters

Matters

Matters

Matters

Matters