Round 2 Questionnaire

ID:  Please enter the Survey "Username" or your e-mail address:   
(A Username is allocated at registration.  If you do not have the Username at hand please just enter your full name or your e-mail address. I will substitute these details with your username before aggregating the data).

Q1.  Some diversity of opinion has come from Round 1 (please see the report and the copy of your comments sent with it).  Regarding observations coming from Round 1, please show your agreement or disagreement with each of the following statements.  Where you disagree with a statement, please indicate why.

Do you Agree or Disagree with the following statements?
Electronic documents, processed straight through to back-end systems, will substantially reduce transaction costs for banks. Disagree? Why?
Having documents in electronic form will substantially reduce time delays. Disagree? Why?
Having documents in electronic form will substantially reduce discrepancies between credits and tendered documents. Disagree? Why?
Electronic authentication and verification, will improve security and reduce fraud against banks. Disagree? Why?
Electronic documents, will reduce staff costs for banks. Disagree? Why?

Q2.  The first round identified several costs likely to be affected by moving online trade finance online.  Please indicate which of these costs are of major importance to BANKS AND OTHER FINANCIAL SERVICE PROVIDERS and by how much they are likely to shift over the next three to five years because of the move from paper to online methods:

	Payment transaction costs (click for examples)
	Installation or joining fees (examples)
	Cost of re-engineering internal business processes, & training
	Initial cost of training (see explanation)
	Cost of resolving discrepancies
	Cost of dealing with fraud
	Counterparty verification/authentication
	Insurance costs
	Legal costs (see explanation)
	Cost of government compliance, taxes, and duties.

Q3.  Please indicate which of these costs are of major importance to USERS OF ONLINE TRADE FINANCE (such as Importers & Exporters) and by how much they are likely to shift over the next three to five years because of the move from paper to online methods:

	Payment transaction costs (click for examples)
	Installation or joining fees (examples)
	Cost of re-engineering internal business processes, & training
	Initial cost of training (see explanation)
	Cost of resolving discrepancies
	Cost of dealing with fraud
	Counterparty verification/authentication
	Insurance costs
	Legal costs (see explanation)
	Cost of government compliance, taxes, and duties.

Q4.  Please indicate which direction these RISKs will is of major importance to SUPPLIERS OF ONLINE TRADE FINANCE (such as banks & other financial service providers) and by how much you expect them to change over the next three to five years due to the move from paper to online methods:

	Credit risk (buyer default)
	Herstatt risk (settlement risk of the buyer’s bank default)
	Currency market risk
	Sovereign risk (loss caused by a government)
	Risk of Fraud
	Risk to enforceability
	Operational risk of a new system failing
	Systemic risk to the financial system as a whole

Q5.  Please indicate which direction these risks will is of major importance to USERS OF ONLINE TRADE FINANCE (such as Importers & Exporters) and by how much you expect them to shift over the next three to five years:

	Credit risk (buyer default)
	Herstatt risk (settlement risk of the buyer’s bank default)
	Currency market risk
	Sovereign risk (loss caused by a government)
	Risk of Fraud
	Risk to enforceability
	Operational risk of a new system failing
	Systemic risk to the financial system as a whole

Q6.  Please indicate how you expect the move from paper-based to online methods for trade finance to affect the competitive environment for services in international trade finance by showing your agreement or disagreement with each of the following statements.

Do you Agree or Disagree with the following statements?
More new online services for trade finance will soon be offered. Disagree? Why?
New online services will mostly come from (be owned by) existing financial service providers. Disagree? Why?
New online services will be provide services complementary to existing online services. Disagree? Why?
New online services will be provide services in competition to existing online services. Disagree? Why?
Complementary trade finance service providers will soon merge. Disagree? Why?
Competing trade finance service providers will soon merge. Disagree? Why?
Trade finance business will move from bank branches to head offices. Disagree? Why?
Banks will lose trade finance business to specialist service providers. Disagree? Why?
Shifting to online methods will increase the amount of international trade and make the world economy more efficient. Disagree? Why?
Most businesses will only need inexpensive modem and internet connections to access new online trade services. Disagree? Why?

Q7.  What other competitive effects do you expect to see occur as trade finance moves from paper-based to online methods?

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