Rohstofffinanzierung

Die Rohstofffinanzierung ist das spezialisierte Kreditgeschäft, das den physischen Handel in Bewegung hält, und Genf und Zug gehören zu ihren wichtigsten Zentren. Die hier versammelten Beiträge erläutern Vorauszahlungs- und Vorexportfinanzierungen, Borrowing-Base-Fazilitäten, Lagerscheine und Collateral Management, Sicherheiten an schwimmender und eingelagerter Ware sowie die Kreditversicherungen und Akkreditive, die Kreditgeber gegen den Ausfall der Gegenpartei schützen. Sie zeigen zudem, wie die Rohstofffinanzierung zur Finanzierung von Projekten in Afrika und Zentralasien eingesetzt wird und welche Vertragsbestimmungen Produzenten, Händler und Banken benötigen, wenn die Gegenpartei ein Staat oder ein Staatsunternehmen ist.

Finance for physical trade

Commodity traders earn thin margins on large volumes, and their profit depends on access to finance at the right price. The banks in Geneva, Zug and Zurich provide prepayment, pre-export and borrowing-base facilities secured by the goods themselves, and they monitor each transaction closely from loading to final payment by the buyer.

Switzerland is one of the world's leading hubs for commodity trading, and much of the trade in oil, metals, grains and other goods is organised from Geneva, Zug, Lugano and Zurich. Banks lend against cargoes, receivables and inventories, which allows traders to handle transactions far larger than their own equity would support. Clear documentation and reliable control over the goods form the foundation of this lending.

What lenders expect from a trader

A bank financing a trade needs to know the goods, the counterparties and the route. It expects contracts, inspection certificates, insurance and title documents that allow it to control the cargo until it is paid. Traders who keep accurate position reports, hedge their price risks and choose reputable counterparties obtain better terms, because every uncertainty in the chain adds to the cost of credit.

Beyond single transactions, structured finance supports longer relationships with producers. Prepayment and offtake agreements let a trader advance funds to a mine or refinery in return for future deliveries, which gives the producer working capital and the trader a secure supply. These structures require careful attention to country risk, sanctions, anti-corruption rules and the enforceability of security in the producer's jurisdiction.

In this section

The articles explain commodity finance in Switzerland, how a cargo of crude oil is financed, the documentary credit, and how prepayment and offtake structures are used to finance projects in Africa.