U.S. Trade FinanceAdvisory Council
Contact Information
- Ericka Ukrow, Designated Federal Officer
- (202)-482-0405
- TFAC@trade.gov
- U.S. Department of Commerce
1401 Constitution Avenue, NW
Room 18004
Washington DC, 20230
ABOUT THE DEPARTMENT OF COMMERCE TRADE FINANCE ADVISORY COUNCIL
The Department of Commerce Trade Finance Advisory Council (TFAC) was established in accordance with the provisions of the Federal Advisory Committee Act, as amended, 5 U.S.C. App., to advise the Secretary of Commerce in identifying effective ways to expand access to trade finance for U.S. exporters and their foreign buyers.
The TFAC's objectives are to:
- evaluate current credit conditions and specific financing challenges faced by U.S. exporters;
- identify emerging financing sources that would address these gaps;
- examine how new financial technologies and other innovations could impact the availability and affordability of trade finance solutions;
- highlight developments from international standard setting bodies that may affect the provision of trade finance; and
- address any other noteworthy issues raised by stakeholders represented by the membership or the public.
The TFAC is comprised of up to 25 private-sector individuals, appointed by the Secretary of Commerce to serve for a two-year term. TFAC members reflect a balanced cross-section of U.S. users and providers of trade finance, as well those from public policy organizations, economic development organizations, and academia
Frequently Asked Questions:
- How will the TFAC be structured?
The TFAC is comprised of up to 25 individuals, including a Chairman and Vice Chair, appointed by the Secretary of Commerce for a two-year term. As a Secretarial advisory committee, the Council acts under the direction of the Secretary of Commerce and the Council members serve at the pleasure of the Secretary. Members do not receive compensation for their service to the Council.
Members, with the exception of those who serve as experts from academia and public policy organizations, represent their own views and interests and those of the entity or organization and particular sector they represent. The members that serve as experts from academia and public policy organizations will be subject to ethical standards applicable to special government employees.
The TFAC shall, to the extent practical, meet a minimum of two times a year. Additional meetings may be called at the discretion of the Secretary or his/her designee. The meetings will take place in Washington, DC, or elsewhere in the United States, or be held via teleconference. Members are required to attend a majority of the meetings.
- What are the membership criteria for the TFAC?
The TFAC is seeking executive-level candidates and accredited professionals that will reflect a balanced cross-section of U.S. users and providers of trade finance, as well academia. Entities from various geographic locations and businesses of varying size including, but not limited to:
- U.S. companies that are exporters of goods and services;
- U.S. commercial banks that provide trade finance products, cross-border payment services, or foreign exchange solutions;
- Non-bank U.S. financial institutions that provide trade finance products, cross-border payment services, or foreign exchange solutions;
- Associations that represent: (a) U.S. exporters and SMEs; and (b) U.S. commercial banks or non-bank financial institutions or other professionals that facilitate international trade transactions;
- U.S. companies or entities whose business includes trade-finance-related activities or services;
- U.S. scholars, academic institutions, or public policy organizations with expertise in global business, trade finance, and international banking related subjects; and
- Economic development organizations and other U.S. regional, state and local governmental and non-governmental organizations whose missions or activities include the analysis, provision, or facilitation of trade finance products/services.
Members will be selected based on their ability to carry out the objectives of the TFAC, in accordance with applicable Department of Commerce guidelines, in a manner that ensures that the TFAC is balanced in terms of points of view.
- How can I apply for membership?
To be considered for membership, all applicants must submit the following information to TFAC@trade.gov
- Name and title of the individual requesting consideration, including all relevant contact information (mailing address, fax, email, phone number, and support staff, where applicable).
- The applicant's personal resume and short biography (less than 300 words).
- A brief statement describing how the applicant will contribute to the work of the TFAC based on his/her unique experience and perspective (not to exceed 100 words).
- An affirmative statement that the applicant meets all eligibility criteria, including an affirmaive statement that the applicant is not required to register as a foreign agent under the Foreign Agents Registration Act of 1938, as amended.
For applicants to serve in a representative capacity, also submit
- A sponsor letter on the sponsoring entity's letterhead containing a brief statement of why the applicant should be considered for membership on the TFAC. This sponsor letter should also address the applicant's experience and leadership related to trade finance;
- A brief description of the company, institution, trade association, or organization to be represented and its business activities and export market(s) served, if applicable;
- Information regarding the ownership and control of the sponsoring entity, including the stock holdings as appropriate; and
- The sponsoring entity's size (number of employees and annual sales), place of incorporation, product or service line, major markets in which the entity operates, and the entity's export or import experience.
For applicants to serve as experts, also submit:
- A statement that the applicant is not a Federally registered lobbyist and that the applicant understands that, if appointed, the applicant will not be allowed to continue to serve as a Committee member if the applicant becomes a Federally registered lobbyist.
- What is the anticipated date of the inaugural meeting for the 2018-2020 charter term??
The inaugural meeting of the TFAC's second charter term is expected to take place late in the March 2019.
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