Trade & Finance

Global trade depends on the movement of goods, capital and risk across markets and borders. From the production and sale of commodities to their financing, transportation, storage and delivery, commercial relationships increasingly form part of complex international supply chains in which contractual, financial, regulatory and geopolitical risks are closely connected.

We advise businesses involved in the production, trading, financing and movement of goods, with particular experience in physical commodities and international trade. We work with producers, traders, buyers and sellers, logistics providers, financiers and other participants across the supply chain, helping clients structure transactions, manage their commercial relationships and respond when performance is disrupted or disputes arise.

Finance is an equally important part of our work. We advise lenders, borrowers, investors, financial institutions and businesses seeking or providing finance on domestic and cross-border transactions, financing arrangements, security, investment and financial disputes. Our experience across trade, transport and finance allows us to understand not only the financing itself, but also the assets, transactions and commercial relationships that sit behind it.

Our approach reflects the interconnected nature of modern commerce. Whether capital is being deployed, commodities are being traded or goods are moving through an international supply chain, we focus on understanding the underlying transaction and providing advice that responds to its commercial realities.

Our commodities work covers the physical trading of goods across a range of markets, including agricultural products, food and feed, metals, energy products and other raw materials. We advise on sale and purchase agreements, supply and offtake arrangements, standard trading terms, pricing and payment mechanisms, delivery obligations, title and risk, inspection and quality issues and the contractual structures through which commodities are bought and sold internationally.

The sale of goods is only one part of the transaction. Commodities and other products must be transported, stored, handled and ultimately delivered, often through several countries and by several different participants. We advise on the contractual relationships across this chain, including logistics, freight forwarding, warehousing, distribution and multimodal transportation, as well as issues arising from delay, shortage, damage, non-delivery and other interruptions to supply.

International trade is particularly exposed to events beyond the immediate control of the contracting parties. Market volatility, geopolitical developments, sanctions and trade restrictions, regulatory change and disruption to transport or supply routes can quickly affect the ability or willingness of parties to perform. We assist clients in assessing the contractual consequences of these events, managing risk and, where necessary, protecting or enforcing their position.

Alongside physical trade, we advise on the financing that enables businesses, transactions and assets to operate and grow. Our work includes corporate and commercial lending, secured and unsecured financing, asset and acquisition finance, refinancing and restructuring, security arrangements, guarantees and other forms of credit support. We act on both sides of financing transactions, allowing us to understand the priorities and concerns of lenders as well as borrowers.

Trade and finance frequently converge. The purchase, storage and movement of goods may depend on financing structures tied to the underlying commodity, receivables, inventory or other assets. We advise on financing arrangements connected with trading activity and supply chains, including the contractual and security structures required to support the transaction and allocate risk between the parties.

We also advise financial institutions and other providers of capital on the broader legal environment in which they operate, including commercial and corporate matters, regulatory and compliance requirements, transactions, investments, security and enforcement. For businesses and investors, we advise on financing strategy and documentation as part of acquisitions, projects, investments and other commercial ventures.

When transactions become distressed, our work extends to restructuring, insolvency, enforcement and disputes. In trade matters, disputes may concern non-payment, non-delivery, quality or quantity, contractual interpretation or disruption to the supply chain. In finance, they may involve defaults, guarantees, security, enforcement or competing creditor interests. Where matters cross jurisdictions, we work with the relevant advisers to develop and coordinate an effective strategy.

By working across trade, commodities, supply chains and finance, we are able to see the connections between the underlying commercial transaction and the capital that supports it. Our objective is to help clients structure transactions effectively, anticipate and allocate risk and respond decisively when circumstances change.