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December 2010

Launch of cooperation with Euler Hermes for the development of SCF

Global Supply Chain Finance Ltd. (GSCF) is pleased to announce the signing of a Memorandum of Understanding (MoA) with the world’s leading credit insurer Euler Hermes. This MoA sets a targeted cooperation for the joint support of each company’s services in the field of Supply Chain Finance.

GSCF’s servicing of Receivables based programs has been identified by Euler Hermes World Agency as a substantial component for adequate credit risk management, bringing transparency to all parties and as such becoming the base for credit underwriting. GSCF and Euler Hermes World Agency will support each other with the aim of bringing an increased value added service to corporates requiring a comprehensive Receivables based solution.

Kendall Stevens, CEO of GSCF commented: “It has been GSCF’s intention for some years now to align the credit sensitive processing of Receivables of specific corporate clients with the value of credit insurance. In consideration of recent events in the credit and liquidity markets and in preparation for possible similar events in the future, I am pleased to have reached this strong union with Euler Hermes World Agency for the benefit of key accounts”.

Euler Hermes is the world’s leading credit insurer with a reported 36% share of the market. With over 6,000 employees in more than 50 countries, it assists companies of all sizes and in every industry sector to develop their business securely.

To learn more about GSCF Group, please contact us.