Asset Based Lending Blog/News

Turkey Steel Tariff Returning to 50%

October 17, 2019 | Announcement, Government, Manufacturing

President Trump announced that Turkey’s tariff rate for steel products under the Section 232 would be returning to 50% in response to a military invasion from Turkey into Syria. The steel tariffs on Turkish steel was previously increased to 50% in August 2018 and then reduced back to 20% in May 2019. In addition to […]

Continue Reading

REMINDER – ETC THANKSGIVING HOLIDAY HOURS

November 22, 2021 | Announcement

Kindly note that our office will close at 3 p.m. EST on Wednesday, November 24th and be CLOSED on Thursday, November 25th and Friday, November 26th, 2021, in observance of the Thanksgiving Holiday. Please contact your account officer to plan accordingly during this time frame. We greatly appreciate your understanding and apologize for any inconvenience. Happy Thanksgiving to all!

Continue Reading

Promotion Announcement

October 27, 2021 | Announcement, Uncategorized

We are pleased to announce that effective immediately, David Estrakh has been promoted to EVP.  Over the last few years, David has already taken on and performed the duties of EVP and his new title is intended to convey a role commensurate with those responsibilities.  As EVP, David heads ETC’s Sales and Marketing Department, overseeing […]

Continue Reading

ETC – ANNOUNCEMENT

September 8, 2021 | Announcement

Important Upcoming Information: On Thursday, September 16th, 2021– there will be no funding available of any-kind (including the issuance of LC’s). Please note, we will be OPEN to handle all other client relations. You may contact your account officer to plan accordingly during this time frame. We greatly appreciate your understanding and apologize for any […]

Continue Reading

REMINDER – ETC Upcoming Labor Day Holiday Hours

September 2, 2021 | Announcement

Important Upcoming Information: Due to the upcoming Labor Day Holiday, our office will be closing Friday, September 3rd at 3 p.m. EST and be closed on Monday, September 6th in the observation of the holiday. Please contact your account officer to plan accordingly during this time frame. We greatly appreciate your understanding and apologize for […]

Continue Reading

Reminder – ETC Upcoming 4th of July Holiday Hours

June 28, 2021 | Announcement

Important Upcoming Information: Due to the upcoming 4th of July Holiday, our office will be closing Friday, July 2nd at 3 p.m. EST and be closed on Monday, July 5th in the observation of the holiday. Please contact your account officer to plan accordingly during this time frame. We greatly appreciate your understanding and apologize […]

Continue Reading

Global Governance of Letters of Credit and the UCP600

April 28, 2021 | Government, Lending, Shipping, Uncategorized

By: Slava Vernidub, Express Trade Capital Every year, trade transactions exceeding US$2 trillion are conducted under UCP600, totaling some 11% of all import/export transactions.­­1 The primary goal of the UCP600 is to ease cross-border trade by providing global uniform rules regulating the issuance and usage of letters of credit (“LCs”). To date, the UCP (“Uniform […]

Continue Reading