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Vincent O’Brien - 27 September 2001

Vincent O’Brien - 27 September 2001 Expert Meeting on Electronic Commerce and International Transport Services UNCTAD. WHAT PILOT PARTICIPANTS ARE SAYING. The development of XML standards is a critical step in our ability to move this industry forward with

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Vincent O’Brien - 27 September 2001

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  1. Vincent O’Brien - 27 September 2001 Expert Meeting on Electronic Commerce and International Transport Services UNCTAD

  2. WHAT PILOT PARTICIPANTS ARE SAYING The development of XML standards is a critical step in our ability to move this industry forward with Information Technology. NOL believes that working with industry groups like CCEWeb will accelerate such initiatives. Donald Liedtke, Chief Information Officer, Neptune Orient Lines, Singapore We are very pleased that Gross Machinery Group has been selected to be one of the companies to help launch @GlobalTrade pilot program with CCEWeb and the Royal Bank. Finally we have the opportunity to not only track the entire process online in real time, but the ability to abolish delays in the delivery of the letters of credit and the need for amendments, thus saving time, courier costs, and other expenses. This is a definite plus in the future of trading electronically. David Gourzong, Controller, Gross Machinery Group, Toronto Having participated in the pilot program, I am impressed with the technology and with the functionality of the program offered by CCEWeb. From a user's standpoint, this tool will assist companies in reducing redundant tasks and costs as well as expediting the necessary payment function to vendors. Vihn Grant, Controller, Alpine Air, Denver Leading market research companies predict that the number of B2B deals completed electronically will grow substantially in the next few years. Thus, companies are facing the prospect of new markets, with buyers and sellers unknown to one another standing in need of safe contract completion in terms of delivery of goods and payments. CCEWeb‘s @GlobalTrade will be able to support buyers and sellers with a system that satisfies our expectations concerning a customer friendly system for secure payment and trade management in the new e-world. Carlos Gómez-Sáez, Head of Trade Services, Dresdner Bank AG, Frankfurt

  3. OUB Corporate customers have said: • @GlobalTrade simplifies the process • Should help cut down discrepancies • Reduces L/C application time • Provides speed and accuracy • Speed, efficient, accuracy, ease paper work & errors • Now I will not need to run around down town collecting • paper documents • Will be a tool for all

  4. Secure Payment and Trade Management System • Solution for electronic Trade Processing • Compliments traditional L/C & will comply with eUCP 500 • Addresses Application Negotiation, Back Office Processing, Credit Advice directly to beneficiary or through advising bank, Generation of Instruction Templates, Document Preparation, Document Presentation, Imaging and Document Checking • FastTrack & Standard Documentary Credit products

  5. Seller Info Beneficiary Info Buyer Info Applicant Info Order Details eDC Details Straight Through Processing 1 Purchase Order 2 Application for Documentary Credit 3 Credit Advice to Beneficiary 4 Export Document Instruction/Preparation 5 Export Document presentation 6 Document verification and settlement 7 Customs Clearance e-Marketplace Accepted Offer eDC Application Data Mapping Data Mapping Data Mapping

  6. Open System – Registration is FREE • Need only a Web Browser and Adobe Acrobat • ePaper Document Management System PDF/ebXML that can work with paper • Digital certificates and software to authenticate edocuments provided by CCEWeb • Can use Create PDF function and Acrobat Reader if do not have full version of Acrobat • Rule Book will be eUCP 500 plus a User Agreement that all participants will sign

  7. Applicants pay to their Credit Issuing Banks a fee for issuance of L/Cs through @GlobalTrade as they do today – NO NEW FEES • In case where a credit can be advised directly to the beneficiary the over all negotiation and processing fees will be reduced • Credit issuing banks will have new revenue opportunity to finance the beneficiary directly • CCEWeb will charge a fee for handling electronic envelope comparable to courier charges

  8. INSOURCING/OUTSOURCING AND MORE • Service provider for banks • Technology and Legal Framework to enable electronic trade processing • China Systems is a shareholder and strategic partner • @GlobalTrade uses Eximbills for its back office processing • Can integrate to the bank’s existing back office system or offer complete out of the box solution

  9. White Label Solution • Banks maintain client relationships • Banks provide a value added service • New revenue source established

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