1. Why are rules and structure established before financing discussions?
Rules provide a shared language for describing transactions.
Structure determines where specific risks are positioned.
Without both, financing discussions rely on subjective interpretation rather than comparable information.2. What is examined first when a transaction is reviewed?
The initial focus is not on financeability.
Priority is given to whether the transaction has a clearly defined structure and an objectively describable current state.3. Why is risk considered as a state rather than a conclusion?
In cross-border trade, risk is not treated as a final judgment.
It reflects the current position of a transaction within its execution lifecycle.
As a transaction progresses, the nature and location of risk evolve accordingly.