TradeCard delivers a secure, reliable, cost-effective and user-friendly international trade solution that puts the business of trade back into the hands of buyers and sellers. 

TradeCard focuses primarily on the documentary compliance and financial settlement issues associated with international, large-dollar transactions. Through the use of patented, Internet delivered transaction-processing technology and by aggregating buyers, sellers and disparate trade service providers, our solution automates and streamlines the existing international trade transaction processes, which are complex, paper-based, time-consuming and expensive.

How TradeCard Works 
In order to use TradeCard’s patented transaction system, buyers and sellers must first become approved TradeCard members by completing an online application.

To begin a transaction, the buyer creates a purchase order containing the transaction’s terms and conditions.  This purchase order can be created directly on the TradeCard system, or sent via electronic file from a company’s ERP system or an online marketplace. 

TradeCard stores the purchase order on its secure, proprietary database, and notifies the seller that an order is pending.  The seller can either approve the purchase order electronically, or can negotiate the order with the buyer online.  Once both parties have agreed on the terms of the purchase order, it becomes a purchase contract.

At the time of shipment, the seller populates an invoice and packing list on the TradeCard system using either TradeCard’s pre-populating tools, or by means of an electronic file.  At this point the seller may obtain assurance of payment from a third party credit insurer.  If the order requires inspection, the inspecting party submits an inspection certificate.  At the time of delivery a third party logistics provider submits the incoterm-appropriate proof-of-delivery documents. 

At any time during this fulfillment phase, either party can submit a request for amendment to the purchase order that will only be effective upon the electronic approval 
of both parties.

Once all the required documents have been submitted, TradeCard’s patented compliance engine automatically verifies that all required terms of the transaction are met by comparing the data of the purchase order with the commercial invoice, packing list and proof of delivery documents.  If discrepancies are noted, the buyer and seller can resolve them online. 

Once discrepancies, if any, are resolved and compliance is met, a global payment provider electronically transfers funds from the buyer’s financial institution to the seller’s financial institution, settling the transaction. If necessary, foreign currency exchange services can also be obtained from the global payment provider. TradeCard is an open network, buyers and sellers are not required to open a new account with another financial institution. 

In addition to these core features, TradeCard members can contract for inspection services, and will be able to contract for pre-and post export financing, cargo insurance and other value-added services.

As members of the TradeCard network, buyers and sellers will never be required or requested to open a new account with another financial institution: TradeCard and its global payment provider work with buyers’ and sellers’ existing account relationships.

 For further information on the TradeCard network and how to apply to become a member, please visit TradeCard at http:www.tradecard.com.