The TRSB Standards
The TRSB operates with a firm set of constantly evolving standards that promote symmetry, transparency, dynamism, and security in trade. These Standards are
a core element of the TRSB Foundation as well as the information & trade receivable management platform endorsed and used by its members.
If you’d like to learn how to get involved with their development, please click here.
Trade Receivable Clearing House Standard
The Trade Receivable Clearing House standard includes:
Contracting with companies
Contracting with financiers
Contracting with collection companies
Contracting with other services
Governance
Bankruptcy remoteness
Transfer of assets
Aceptable policies
Privacy & Security Standards
The TRSB Standards ensure that the information shared across a TRSB controlled infrastructure restricts the information to the seller and the buyer unless consent is required and given to share with other parties.
In respect of protection of information, TRSB follows the standards promoted by the Basel Committee and ISO 27001.
Credit Information Standards
TRSB provides a standard for the sharing and using credit information in relation to trade.
Credit information is important to understand the risk of trading partners, however, all companies make errors from time to time that which may affect the credit score or profile of the company committing the error. The Standards aim to ensure that errors are weighted and that the information is deleted when no longer relevant.
Credit information may always be corrected or challenged in order to ensure quality.
Risk Management Standards
The TRSB Standard is built from the perspective of minimizing risk. The risks that are addressed include:
Operational risk – risk in relation to operational problems, including information security
Credit risk – risk of the inability companies and their debtors to pay their debts
Fraud risk – risk that companies or their debtors illegally appropriate funds
Dilution risk – risk in relation to problems in the supply chain
TRSB’s policy avoids all currency market risks by strictly matching finance currency to funding currency.
Localization Standards
The TRSB Standards separate economic from legal aspects as much as possible to achieve maximum efficiency when rolling their release internationally.
At present, the following jurisdictions are covered:
Kenia
United Kingdom
The Netherlands
Peru
The Standard is today available in:
Dutch
English
Spanish
TRSB has a system with which it ensures that elements changed in one language are adjusted and available for all global standards, as well as if there are local changes proposed, other interpretations may benefit from them.
Aggregate & Related Standards
The TRSB standards are to operate together with other standards. The following standards are relevant and complementary:
UBL – Standard for Information Exchange on Business
ISO 27001 – Information Security Integrity and Continuity Standards
IFRS – Accounting and business transactions standards
Basel Standards – Standards for banking regulation