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It is a ICC compliant subscription platform that facilitates the face-to-face meeting of trade transaction principals to negotiate electronic trade documents.
In 2022 the International Chamber of Commerce, which governs the rules by which legitimate international trade transactions abide, released the eUCP 1.0 which detailed new rules allowing electronic documents in place of paper and couriers. iTradeDigital complies with all ICC stipulations.
The most important advantage is reduced time to receive payment, often in as little as a week. Trade transactions using traditional methods of paper documents carried by couriers can take in excess of 24 days to receive payment. Courier delays, missing or discrepant documents, and international public crisis’ can extend this waiting period, contributing to financial uncertainty or loss.
iTradeDigital utilizes Google Cloud Infrastructure and Google Workspace to ensure a cybersecure operating environment. Only transaction principals, their chosen associates, & assigned iTradeDigital trade management specialists have access to a case’s documents. All data is encrypted at rest and in flight. At the discretion of the principals, the finalized documents may be subjected to additional security measures including digitally signed PDFs, Blockchain verification, and auditable end-to-end encrypted file transfer services.
In legitimate international trade there is no guarantee of payment if disputes should arise during the course of shipping or customs clearance. What is retained is the seller’s title to goods until they have received payment. Performing due diligence is the responsibility of both transaction principals. ItradeDigital’s central approach to this dynamic is to insist on face to face meetings between the principals via videoconferencing for the purposes of all trade negotiations.
iTradeDigital retains international trade advising professionals with extensive real world experience to consult on trade transactions. This helps ensure that the appropriate designations of INCOTERMS and conditions are clearly communicated between the principals and reflected in the binding documents.
Our transaction examination software solution ensures that information repeated throughout a trade transaction documentation matches everywhere it is used. This prevents costly customs delays & letter of credit non-compliance.
You will need a free Google account or Google Workspace account. This is to ensure that Google’s encryption at rest and in flight can validate your access to specified documents & resources to conduct your trade transactions securely.