GlobalTrade Corporation (GTC) has announced that ChevronTexaco UK has selected its @GlobalTrade Platform as the communication channel to all its banks for export letter of credit and guarantee messages.


Chevron has already asked its main bankers to use GTCHUB to standardise message delivery in the Swift format. The latest announcement follows a six-month pilot project whereby Chevron’s credit department in London has tested GTC’s Global Corporate Enterprise System for documentary credit management. Chevron plans to use GTC’s system to streamline the internal sharing of LC data and document preparation once its main banks are brought online.


“The first step towards gaining efficiency in compliant document preparation is the standardised electronic delivery of information,” says Ron Wells, Chevron’s credit manager. “We do not want to have to go into various bank systems to view our incoming letters of credit and guarantees. This is not practical and takes more time than receiving a fax. We are glad that GTC is offering an independent multi-bank bridge.”


“GTC is able to integrate with banks’ back office systems and offer a manual upload option to accommodate banks of all sizes,” adds GTC’s chief executive Jacob Katsman. “Our company is honoured to service Chevron, and we are certain that with support from banks that are committed to trade services we will be able to offer other value-added solutions, such as the electronic pre-checking and presentation of commercial documents.”


GlobalTrade Corporation is a software development house and applications service provider. The company designs, develops and manages innovative, collaborative products and services for global trade industry. GlobalTrade customers are producers and traders that require consolidated access to multiple banks, centralised or delegated document preparation and management, third-party collaboration and risk exposure control; and financial institutions that require secure electronic data exchange with their corporate customers.