Trade Services Utility
Encyclopedia
The SWIFTNet TSU is a banking initiative provided by SWIFT (Society for Worldwide Interbank Financial Telecommunication
).
The basic concept for the TSU is a matching system for Trade Documents which is designed to allow Banks to provide funding at various stages throughout the Physical Supply Chain
. This can be used for LC (Letter of credit
) business or Open Account transactions.
The service is available between Banks, and is designed to allow Banks to integrate more effectively with their Corporate Customers, and their Suppliers. SWIFT TSU Announcement
The TSU provides a service that will allow the Financial Supply Chain to mirror the Physical Supply Chain
.
Society for Worldwide Interbank Financial Telecommunication
The Society for Worldwide Interbank Financial Telecommunication operates a worldwide financial messaging network which exchanges messages between banks and other financial institutions...
).
The basic concept for the TSU is a matching system for Trade Documents which is designed to allow Banks to provide funding at various stages throughout the Physical Supply Chain
Supply chain
A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to...
. This can be used for LC (Letter of credit
Letter of credit
A standard, commercial letter of credit is a document issued mostly by a financial institution, used primarily in trade finance, which usually provides an irrevocable payment undertaking....
) business or Open Account transactions.
The service is available between Banks, and is designed to allow Banks to integrate more effectively with their Corporate Customers, and their Suppliers. SWIFT TSU Announcement
The TSU provides a service that will allow the Financial Supply Chain to mirror the Physical Supply Chain
Supply chain
A supply chain is a system of organizations, people, technology, activities, information and resources involved in moving a product or service from supplier to customer. Supply chain activities transform natural resources, raw materials and components into a finished product that is delivered to...
.