Teesside

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Teesside Trade Digitization

Local Merchant Services have been providing Trade Digitization Services since 2017. Digitizing Trade helps avoid lengthy delays

Teesside

Teesside Trade

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IBM Digital Trade Services

IBM Digital Trade Services also provided including: Blockchains-As-A-Service; Food Trust; Internet Of Things; Transparent Supply

Your Local Logistics Provider

DSV

Part of the TRADE GATEWAYS Programme

For Local Trade Opportunities for Buyers and Sellers, access Buyers or Sellers through an applicable B2B Marketplace. After concluding a transaction, come back and use the Digital Trade Features at this site, to access a local infrastructure to execute agreed Transactions, in a faster and more secure manner.

Applicable B2B Marketplaces include those below:

  • Brexit.Trade
  • TradeKey UK

    • Provision Of Infrastructure For Trade Digitization

    Each transaction is treated on a case by case basis, but a general scenario is one as detailed below:

    TRANSACTION

    1. Buyer sees the offer at the transactional site that is part of the TRADE GATEWAYS Programme, and agrees to buy from a Seller. The parties agree an equivalence between control of an electronic transferrable record and possession of a transferrable paper document or instrument.

    2. Buyer makes the order and the trade invoice is generated by the seller on the TRADE GATEWAYS Platform.

    3. The parties agree that an Electronic letter of credit will be utilized in the transaction. The parties also agree on the Logistics Company to be utilized, who are part of the TRADE GATEWAYS Programme.

    EXECUTION

  • The Buyer/Importer applies to the issuing bank to open an electronic letter of credit subject to the latest version of eUCP rules.
  • The issuing bank issues an electronic letter of credit via the authenticated TRADE GATEWAYS Platform.
  • The beneficiary (exporter/seller) of the electronic letter of credit receives the authenticated copy via the TRADE GATEWAYS platform.
  • At the same time the buyer/importer confirms with the Logistics company, that an electronic bill of lading will be issued instead of a regular paper based bill of lading. This electronic bill of lading, along with all other relevant Trade Documentation, will be issued on the TRADE GATEWAYS platform.
  • Exporter/Seller delivers goods to the logistics company.
  • Warehouse issues a warehouse warrant on the TRADEGATEWAYS Platform, which is a document issued in favour of the owner or depositor of goods by the warehouse keeper. It is a document of title of goods, and can be transferred by simple endorsement and delivery.
  • The warehouse warrant is digitally signed by the Warehouse.
  • Required Inspections take place.
  • All Trade Documents are Digitally/Securely signed by relevant parties.
  • The certification is Digitally signed by the certifier(s) where relevant.
  • All Digital signatures come from a specified email address provided to users under the TRADE GATEWAYS programme, so that the signatures can be authenticated in a number of ways. Such authentication includes recording and tracking the IP addresses.
  • Once all the authenticated Digital Signatures as above have been made by the relevant parties, confirmation is sent to all parties that the document has been digitally signed by all parties. These transferrable electronic trade documents, which have been securely digitally signed, would then serve as an alternative to traditional paper versions.
  • The beneficiary makes an electronic presentation for the issuing bank. The Electronic presentation contains electronic documents including digitally signed e-bill of lading/warehouse warrant.
  • Issuing bank checks the documents. If they are OK, it honors its Electronic letter of credit.
  • The transaction is concluded. Ownership is transferred to the Buyer.
  • The Issuing Bank sends the e-documents to the Buyer.
    • contact@tradegateways.com