Trade-Ranger Completes Compliance Process for Safe Harbor Certification.Energy Editors/Business Editors/High-Tech Writers HOUSTON--(BUSINESS WIRE)--Jan. 7, 2004 Trade-Ranger(TM) Inc. announced that it has completed the registration process for Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. certification. Safe Harbor is a joint effort between the U.S. Department of Commerce and the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community to certify companies that are in compliance with stringent EU data privacy rules and regulations. "Achieving Safe Harbor certification is an important achievement and will be of special interest to our European buyers and suppliers," said John R. Wilson, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Trade-Ranger. "The certification will assure EU organizations that Trade-Ranger provides its customers with adequate privacy protection, as defined by the European Commission's Directive on Data Protection." The Safe Harbor directive originally prohibited the transfer of personal data to non-European Union nations that do not meet the European "adequacy" standard for privacy protection. While the U.S. and the EU share the goal of enhancing privacy protection for their citizens, they both take a different approach to implementing these privacy regulations. As a result of these differences, the U.S. Department of Commerce, in consultation with the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community , developed a "safe harbor" framework. The safe harbor -- approved by the EU in July of 2000 -- is an important way for U.S. companies to avoid experiencing interruptions in their business dealings with the EU or facing prosecution by European authorities under European privacy laws. Receiving Safe Harbor Certification does provide reassurance to EU organizations that your company provides "adequate" privacy protection. About Trade-Ranger Trade-Ranger is the leading global marketplace for electronic procurement in the oil, gas and chemicals industries. Trade-Ranger provides an independent electronic hub that connects buyers and suppliers in the upstream, downstream and retail sectors; collaborates with companies in implementing e-procurement strategies; and guides development of industry-wide content and transaction standards. Among the services and solutions it provides to its members are catalogue creation and trading, electronic document exchange -- purchase to invoice, and hosted order management tools. Trade-Ranger's shareholders include ConocoPhillips, The Dow Chemical Company The Dow Chemical Company (NYSE: DOW TYO: 4850 ) is an American multinational corporation headquartered in Midland, Michigan. Overview The Dow Chemical Company is currently the second largest chemical manufacturer in the World (after BASF)[1]. , ENI, Mitsubishi Corporation Mitsubishi Corporation (三菱商事株式会社 , Repsol YPF Repsol YPF, S.A., (IBEX-35:REP) is an integrated Spanish oil and gas company with operations in 29 countries, the bulk of its assets are located in Spain and Argentina. The product of a 1999 takeover of Argentine energy firm YPF by the Spanish conglomerate Repsol S.A. , The Royal Dutch/Shell Group, Solvay, Statoil, Total, Unocal, Occidental Petroleum Occidental Petroleum Corporation ("Oxy") NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. and BP. About Safe Harbor http://www.export.gov/safeharbor/ |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion