Payment Protection
TradeCard enables buyers to experience the freedom of open account-style transactions, while offering payment
protection to suppliers. The best of both worlds, without the trappings of letters of credit. For a transaction, the
buyer decides whether payment protection will be made available to the seller. If available, the seller can secure the
payment protection quickly online. During the transaction, discrepancies can be resolved easily online without
additional fees. Credit lines turn quickly, and existing bank credit lines are freed for other business uses.
Coface Credit Management North America, Inc. (CCMNA) provides payment protection to TradeCard members through its @rating Quality Label,
the first worldwide trade debt rating in the world. The timeframe for protection can be defined between 30 and 180
days from shipment date.
CIT, the largest factoring business in the United States, provides payment protection to seller-members on
TradeCard.. Unlike a letter of credit, the defined time frame for protection is flexible, defined by you and your
trading partner.
Additional information:
