Sign In
Not register? Register Now!
Essay Available:
2 pages/≈550 words
2 Sources
English (U.S.)
MS Word
Total cost:
$ 9.72

Global Commercial Documents and Insurance (Essay Sample)


Access the Society for Worldwide Interbank Financial Telecommunications website. Discuss some interesting facts about SWIFT and its ever-growing importance to global supply chain networks.


Global Commercial Documents and Insurance
Author's Name:
Institutional Affiliation:
Global Commercial Documents and Insurance
Facts about SWIFT
The Society for Worldwide Financial Telecommunication (SWIFT) is a platform which supports a network that facilitates banks and other financial organizations around the globe to conduct financial transactions in a reliable, standardized, and secure environment CITATION Jav15 \l 1033 (Pérez-Tasso, 2015). Additionally, SWIFT offers services as well as selling software programs to financial organizations. Moreover, SWIFT provides a network mainly used by majority of financial institutes such as interbank messaging. One interesting fact about SWIFT is that it helps in transmitting commercial messages through a safe, secure, and standardized way without keeping members’ accounts, perform their settlement or clearing forms.
Secondly, the Society for Worldwide Interbank Financial Telecommunication does not aid in the transfer of funds: instead, it enables banks to transmit payment orders which are then settled by the accounts in the banks’ correspondent institutes. Thirdly, SWIFT provides messaging solutions for treasury and forex exchanger CITATION SET19 \l 1033 (SHOBHIT, 2019). It enables organizations to manage their treasury operations, which in effect facilitate reliable settlement, enhanced straight-through processing, and timely reporting. SWIFT uses standardized industry messages which charge relatively lower operational costs compared to existing infrastructural rates. The network supports contemporary programming languages such as Generics, Closures with Functional Pointers, and functional programming patterns CITATION Jon11 \l 1033 (Ashton, 2011). The platform also facilitates and supports three different access con

Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Recruitment Case Study: Hiring Philosophy
    Description: The hiring experts at the Borgata Hotel Casino and Spa in Atlantic focuses on recruiting and hiring philosophy. In this case, the applicants for waiters and waitress position were not supposed to gain more than 8 percent of their body weight from the time they were hired....
    2 pages/≈550 words | 2 Sources | APA | Management | Essay |
  • Module 1 – SLP- Present Value and the Risk/Return Trade-Off
    Description: Stay focused on the precise assignment questions. Do not go off on tangents or devote a lot of space to summarizing general background materials. For computational problems, make sure to show your work and explain your steps....
    2 pages/≈550 words | 3 Sources | APA | Management | Essay |
  • Project Management Plan And The Proposed Steps
    Description: You are the project manager responsible for a new building construction in northern Virginia. The building is worth $500,000 and will have five bedrooms, a kitchen, landscaping, and a two-car garage to be completed in two years....
    4 pages/≈1100 words | 4 Sources | APA | Management | Essay |
Need a Plagiarism Free Essay?
Submit your instructions!