It refers to a company providing documents and financial supply chain infrastructure by linking with physical transfer of goods and funds for trade. Safe transaction infrastructure provides cost efficient and practical service for management of financial supply chain through reducing inefficiency and uncertainty shown in traditional domestic transactions and international trade handling process, and simplifying and improving the procedure necessary for the approval of purchase orders, payment decisions and settlement.
Trade Card Transaction Procedure
What is on-line financing?
Existing Financing
Financing can only be provided when an exporter prepares and attaches various documents, including invoice, packing list, bill of exchange, B/L and L/C, and visit a bank in person
Trade Card Financing
When a user prepares a simple electronic application by accessing the TradeCard system from a user¡¯s own PC, a bank¡¯s responsible employee provides funds after confirming such information from his/her own PC.
Procedure for Progress of On-line Financing
All relevant employees proceed with all duties by accessing the TradeCard in the Internet.
1) Buyer: Preparing a purchase order (PO)
2) Seller: Approving PO and selecting Coface protection
3) Seller: Preparing invoice (INV)/packing list (P/L) and applying for financing
4) Person in charge of distribution: Inputting optional data (POD)
5) Person in charge of a bank: Approving financing and providing funds after verifying documents (INV, P/L, POD) in TradeCard
6) Depositing money into a bank account from T. Cook on a settlement day