TradeCard and IPACS Alliance Combines Online Trade Transaction, Logistics Services.Business Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of & SINGAPORE--(BUSINESS WIRE)--October 30, 2000 TradeCard, Inc., an online trade transaction company that enables settlement of cross-border trading securely over the Internet, today announced an alliance with IPACS IPACS Integrated Power/Attitude Control System (aerospace) , Singapore's leading IT/e-Commerce solutions provider. This alliance will provide TradeCard members direct online access to global logistics services through IPACS' logistics service hub - d2dLogistics.com. By combining the core competencies A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
"As we expand operations throughout Asia, TradeCard forges alliances with strong partners who provide both valuable services to our members as well as regional expertise," said Kurt Cavano, TradeCard's Chairman and 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. . IPACS provides our members a wide range of logistics options and services through d2dlogistics.com, offering direct access to not only the Singapore market, but to other key Asian markets where the bulk of international trade is done." Mr. Wong Sing Lam, Chairman of IPACS Group of companies, added that: "TradeCard and d2dlogistics.com are up-and-running networks whose integrated, complimentary transaction and logistics solutions are going to greatly improve the efficiency with which international trades are both conducted and tracked." Currently, businesses can initiate trade transactions online, but they cannot complete them without dropping offline to settle them in traditional, paper-based and time-consuming ways. TradeCard provides a powerful online alternative to this timeworn system of trade payment by aggregating trade service providers critical to online trade transactions such as global payment and foreign exchange services, credit scoring Credit scoring A statistical technique that combines several financial characteristics to form a single score to represent a customer's creditworthiness. and assurance of payment, rating and inspection services, and pre- and post-export financing. TradeCard's agreement with IPACS enhances this network by providing TradeCard members access to d2dlogistics.com's network of freight forwarders An individual who, as a regular business, assembles and combines small shipments into one lot and takes the responsibility for the transportation of such property from the place of receipt to the place of destination. , transport companies, warehouse operations and other logistics service providers. These services are integral to ensuring the actual movement of goods within a trade transaction. How TradeCard Works In order to use TradeCard's patented transaction system, buyers and sellers must first become approved TradeCard members. To begin a transaction, the buyer creates an electronic purchase order in one of three ways: through the TradeCard system using its contract templates, via electronic file from a company's ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. system, or from an online marketplace. TradeCard then notifies the seller that there is a purchase order pending for review. The buyer and seller can further negotiate the purchase order online. Once they agree to the terms, both buyer and seller authorize the purchase order with digital signatures. TradeCard stores the approved purchase order in its secure, proprietary database. Once the packing list and invoice have been created and authenticated au·then·ti·cate tr.v. au·then·ti·cat·ed, au·then·ti·cat·ing, au·then·ti·cates To establish the authenticity of; prove genuine: a specialist who authenticated the antique samovar. by the seller, an assurance of payment is attached to the purchase order, confirming the amount of coverage on the shipment, and ensuring that the seller will receive payment upon compliance up to the assured amount. TradeCard's patented compliance engine then electronically compares the data from the electronically submitted shipping documents to the original purchase order. If discrepancies are identified, the buyer and seller can negotiate them online. Once compliance is met, payment is transferred electronically from the buyer's financial institution to the seller's financial institution. In addition to these core transaction features, TradeCard members can contract for pre- and post-export financing, inspection services, cargo insurance and other value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. . How d2dLogistics.com Works d2dLogistics.com is a logistics service hub which offers end-to-end, business-to-business services for the trading of logistics services through a real-time, online digital marketplace system. Targeting at shippers, consignees, 3rd party logistics service providers, freight forwarders, shipping lines, airlines and e-Commerce communities, d2dLogistics.com enables its members (logistics service providers and logistics service users) to track its order and shipments status, monitor its inventory, fulfill its logistics requirements, exchange trading and shipping documents, and settle its billing and payment electronically. At the same time, it also has a comprehensive ASP model with a full suite of IPACS' Transportation and Logistics solutions for supply chain execution. All these services are offered through subscription. In addition, d2dLogistics.com also provide its customers with total e-Commerce solutions and platform should they decide to implement their e-Commerce solution internally. About TradeCard TradeCard is a business-to-business e-commerce infrastructure that enables buyers and sellers to initiate, conduct and settle international trade transactions securely over the Internet. By aggregating buyers, sellers and disparate trade service providers, our patented solution automates and streamlines existing international trade transaction processes, which are complex, paper-based, time-consuming and expensive. Our objective is to provide a secure, reliable, cost-effective and easy-to-use solution for conducting and settling international trade transactions. TradeCard, Inc. is headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with U.S. offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. and Chicago, and Asian offices in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Taiwan. TradeCard can be found on the World Wide Web at http://www.tradecard.com. About IPACS In 1983, IPACS was established in Singapore with a vision of providing superior IT solutions to the transportation and logistics industry. Soon after, IPACS also pioneered the use of electronic data interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. (EDI (Electronic Data Interchange) The electronic communication of business transactions, such as orders, confirmations and invoices, between organizations. Third parties provide EDI services that enable organizations with different equipment to connect. ) technology for both the private and public sectors. It is now a premier IT solutions provider with key competencies not only in the Transportation and Logistics industry, but also in the banking and finance sectors, aviation and airport, telecommunications and utilities and commerce industries. IPACS has also made significant moves into Asia over the years, through a network of overseas subsidiaries, joint ventures and representative offices. Currently, IPACS has operations in China (Beijing, Shanghai, Guangzhou and Chengdu), Hong Kong, Malaysia and Taiwan (Taipei, Keelung and Kaoshiung). It has over 350 staff in 15 offices and has more than 2000 customers in the region. The company's website is http: //www.ipacs.com. This press release contains a number of matters that constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The presentation reflects the current views of TradeCard's management with respect to future events and is subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. |
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