Related News

ETG closes first sustainability-linked credit facility

C2FO strengthens supply chain finance offering with managing director hire

Some banks praised for “rapid progress” on deforestation, but wider action needed

Coal trader wins appeal in trade sanctions clash with JP Morgan

US lenders bankrolling Amazon oil, campaigners warn

JPMorgan Treasury Services, www.jpmorgan.com/ts, a unit of JPMorgan Chase Bank has announced that its integrated, secure global trade supply chain solution JPMorgan TradeDoc® is now available directly to clients via the web. TradeDoc automates the preparation, transmission and negotiation of critical trade documents, helping to streamline existing processes.

“JPMorgan’s TradeDoc offers clients throughout the global trade supply chain an integrated business solution to outsource, leverage relationships and information, and streamline existing processes, as well as provide better service to their customers,” explains

  • Paul Simpson, global head of trade services for JPMorgan. “TradeDoc advances the move toward creating ‘paperless’ trade documents, reducing risk around payments, accelerating settlements and cash flow, allowing remote printing, and eliminating delays that often impact the delivery of goods in port.”

 

Now accessible on the web through JPMorgan’s online inquiry system Trade Information Exchange (TIE) TradeDoc provides exporters, importers and document preparation service providers with an integrated platform for the automation and/or outsourcing of their documents regardless of terms, whether documentary credit, documentary collection or open account.

TradeDoc benefits include:

 

    • End-to-end electronic document solutions for the entire global trade value solution

 

    • Built-in comparison engine that can identify potential discrepancies between documents, thereby reducing discrepancies and facilitating prompt payment

 

    • Improved cashflow and reduced days sales outstanding (DSO)

 

    • Consolidates shipment information

 

    • Enables paperless negotiation of letters of credit through JPMorgan’s global interfaces

 

    • Transmits documents that can be printed remotely at locations nearest the importer or buyer

 

  • Sending and receiving documents and messages via bolero.net

JPMorgan offers a range of TradeDoc service models:

Outsourcing document preparation to JPMorgan: JPMorgan prepares documents on behalf of export customers, who are only responsible for providing source documents, such as documentary credit and shipment information. Third party service providers can also use JPMorgan’s system capabilities to transmit electronic bills of lading. All documents prepared through JPMorgan TradeDoc, within this service model, are available for viewing in TIE.

Application service provider: Through secured internet access to TradeDoc via TIE, export customers can prepare their own shipping documents online. Documents can be created from new or existing templates, purchase orders, or from a documentary credit issued in favor of the export customer. Automated templates and document population keep data entry to a minimum.

Private labeling: JPMorgan clients who are service providers specializing in document preparation can utilize JPMorgan TradeDoc to handle the document outsourcing business of their customers. TradeDoc can be private labelled under a name requested by a client. JPMorgan will provide systems support and ongoing product enhancements to ensure that clients have access to market leading functionality.

JPMorgan’s TIE provides multi-access downloading of customised reports on a client’s trade finance activity from a browser-based global retrieval system. Customers have the ability to perform inquiries and obtain the real-time status of trade transactions, letter of credit history and text, items currently in processing, and related accounting information. In addition, it offers a secure e-mail capability to communicate with JPMorgan and authorized trade chain partners. Trade clients have access to a full range of letters of credit, documentary collection, purchase order and courier inquiry data regardless of geographic location.