Internet Trade Facilities will License its technology to corporations and commercial banks that want to move their trade finance operations online.
The Internet Trade Facilities GBM ePlatform is the first completely online solution for importers and exporters to use electronic documents via the Internet instead of paper. Internet Trade Finance issues and negotiates Documentary Trade Credits and Documentary Trade Payments as non-bank alternatives to documentary letters of credit and collections. These instruments adhere to ICC UCP 600, eUCP, URC 522 and eURC Supplements for presentation, examination, negotiation and settlement. Internet Trade Finance capabilities include an commerce ePlatform for creating and managing trade documents generated globally between importers, exporters, banks, forwarders, and carriers; to include quotes, purchase orders, proforma invoices, commercial invoices, packing lists, bills of lading, shippers letters of instructions and contracts. Internet Trade Finance’s vision is to provide international trade a fast, online and secure solution for settling trade transactions based on universally accepted rules and conventions.
Technology Transfer Includes:
- License to Patent Pending No. 62901019
- Documentary Trade Credit issue and negotiation
- Documentary Trade Payment issue and negotiation
- ITF ePlatform Cloud Structure & Documentation (white label)
- ITF Operating Manuals
- ITF Global Business Model eUCP & eURC compliant documents
- ITF Transaction Management Databases
- ITF Online Transaction Training Presentations
- ITF Traditional Trade Finance Presentations
- ITF eUCP and eURC third party customer support.