The cycle of a cargo through the cluster

Worked example. A Geneva trading house buys 100,000 tonnes of wheat from an Eastern European exporter for USD 25 million and sells them on to a North African importer. The Geneva bank issues a letter of credit or finances the purchase on a transactional line, at a margin of 0.4 per cent. The Geneva charterer finds a vessel for USD 1.2 million, and the inspector certifies quality and quantity at loading and discharge for USD 40,000. The insurance broker places transport cover for USD 30,000 and credit insurance on the buyer for USD 60,000, and the Geneva lawyer then drafts the contract on the basis of the standard forms of the grain trade for USD 15,000. The trading house earns a gross margin of 2 per cent, or USD 500,000, out of which it pays its financing, insurance, logistics and staff costs. Each participant in the cluster earns a few tens of thousands of dollars on the transaction, but together they make possible a flow that none of them could organise alone.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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