FROM MAREX TO HYPERTEXT PDF

USMMA KPA-CPA News is provided in two (2) formats – as hypertext linked: .. Integrity Attribution: The Maritime Executive, June 25, By MarEx. guage of the Web, HTML (Hypertext Markup Language), to include. JavaScript ( developed transaction management for the marine industry (Marex), and the. HTML is a simple data format used to create hypertext documents that are .. o Examples: Altra Energy, Marex, QuickTrade, RateXchange, ChemConnect.

Author: Tamuro Samuzil
Country: Nigeria
Language: English (Spanish)
Genre: Travel
Published (Last): 23 October 2009
Pages: 238
PDF File Size: 9.97 Mb
ePub File Size: 13.22 Mb
ISBN: 882-7-92168-148-5
Downloads: 57583
Price: Free* [*Free Regsitration Required]
Uploader: Gukazahn

The present invention relates to networked interfaces and more particularly to conducting trade finance business operations including a credit application process.

In international sales of goods, the buyer and seller may not know each other, or may not be familiar with the other’s legal system. Thus, one of the major difficulties in international trade is to assure payment, particularly when the buyer or the seller is a small or medium sized business which expects difficulties in obtaining payment should a problem arise.

Conventionally, a letter of credit is used in international trade to shift transaction risks to parties better able to manage these risks, specifically, to shift payment risks from unknown entities, such as a distant buyer, to known entities, such as a local bank. Usually, the seller’s bank makes an irrevocable promise to pay the seller upon presentation of appropriate documents.

After the correct documents are presented, the seller’s bank pays the seller, then collects payment from the buyer’s bank and delivers the presented documents to the buyer’s bank.

In turn, the buyer’s bank obtains payment from the buyer. Meanwhile, the shipper, via a carrier, transports the goods to the buyer’s location. The carrier requires presentation of the bill of lading, which was delivered to the seller, before transferring possession of the goods to the buyer.

The buyer obtains the bill of lading from its bank after payment, and then the buyer and its broker hypergext for presentation of the bill of lading to the carrier and delivery of the goods to the buyer’s location. Often, the carrier delivers the goods to the buyer’s broker at the customs ho point of the buyer’s country. During an international trade using a conventional letter of credit, the buyer and seller are assumed to drom located in countries B and S, respectively.

The issuing bank is a bank in country B which has agreed with the buyer to issue a letter of credit in favor of the seller. The paying bank is a bank in country S known to the seller which has guaranteed the letter of credit to the seller. The intermediary bank, which may be hyperteext country B, country S or a third country, is a bank trusted by both the issuing bank and the paying bank.

To begin, the buyer issues a purchase vrom based on an agreement previously concluded between the buyer and the seller. Then, the buyer approaches its chosen issuing bank and instructs the issuing bank to open a letter of credit in favor of the seller confirmed on its chosen paying bank. The letter of credit may be confirmed, unconfirmed or standby.

The issuing bank is assumed in this example to have no direct relationship with the paying bank, so the issuing bank approaches an intermediary bank hyypertext accepts the guarantee to pay of the issuing bank. The intermediary bank then approaches the paying bank, which accepts the guarantee to pay of the intermediary bank.

In other cases, the paying bank has recourse, that is, the paying bank passes the documentation to the issuing bank and obtains payment therefrom before paying the seller. The seller finishes producing the goods and arranges for shipment with a shipper. Goods are passed to the shipper. The shipper transports the goods hypertextt a port of entry in the buyer’s country. Upon receipt of goods, ho shipper provides the seller with a bill of lading.

After verifying that the documentation is in order, the paying bank pays the seller. The paying banlc presents the documentation and its proof of payment to the intermediary bank, which pays the paying bank. The intermediary bank in turn presents the documentation and its proof of payment to the issuing bank, which pays the intermediary bank. The issuing bank then obtains payment from the buyer and gives the buyer the confirming documentation including the bill of lading.

  DEVELOPMENTAL DEFECTS OF THE AXIAL SKELETON IN PALEOPATHOLOGY PDF

The buyer gives its agent, such as a broker, the bill of lading and other necessary magex. The buyer’s agent obtains the goods from the shipper, clears the goods through customs in country B and arranges for delivery of the goods to the buyer. The international trade is now completed.

The seller’s bank assumes hypeftext risk of non-payment by the buyer’s bank, which the seller’s bank is assumed to be ti to evaluate. These bank fees and requirements are a burden on trade, particularly on the buyer. This has caused an enormous amount of frustration to sellers seeking payment.

A system, method and article of manufacture are provided for a credit application process. First, a credit application is received from a buyer utilizing a network. In response hypetext the receipt of the credit application, the credit application is sent to a bank via the network. This is for assessing the credit of the buyer based on the credit application.

If the credit is approved, the buyer is registered by assigning an identifier thereto. Next, a password is mrex for the buyer. The identifier frok the password are then stored in a database. Thereafter, the buyer is sent the password utilizing the network.

USMMA-AA Chesapeake Chapter – Chapter Presidents Alliance

In operation, the buyer may use the password and identifier to initiate transactions on the network. Further, the buyer is hyprtext a card reflecting the identifier. In one embodiment, the card is delivered to the buyer by courier. A notice is then sent to the bank upon receipt of the card by the buyer.

As an option, the credit application may include mardx statements of the buyer. Further, the step of assessing the credit of the buyer may include approving a credit limit, and hypertexg up a line of credit. The invention will be better understood when consideration is given to the following detailed description thereof. Such description makes reference to the annexed drawings wherein:.

Figure 1 is a general depiction of a NTrade environment based on Internet utilization. Figure 2 is a diagram of the trade platform over which buyer and seller processes take place in real time. Figure 3 illustrates several eCommerce capabilities of the NTrade system, including elnformation Convergence, eProcurement, eBilling and elnvoicing, and eAuctioning. Figure 4 is a schematic diagram of a hardware implementation of one embodiment hypertect the present invention. Figure 8 depicts optional enhancements that may be offered and performed during operation of the virtual trade financial framework of Figure 7.

Figure 9 illustrates several areas which NTrade will fulfill in the eCommerce value chain.

Marexx 13 is a flowchart of a process for initiating bidding in a virtual trade financial environment. Figure 14 expands on the bidding process of the NTrade system discusses above with reference to Figure 13.

Figure 15 is a msrex illustrating a process for initiating a transaction in a virtual trade financial framework. Hpertext 17 is a flow diagram for initiation of a hypretext between a buyer and seller using combined purchase order proforma invoice submission.

Figure 19 illustrates a payment process when there is no disagreement on the terms of the documents.

Figure 20 depicts a payment process when there is a disagreement on the terms of the documents. Figure 22 illustrates a payment process when a direct transfer of funds is available. Figure 26 is a flowchart depicting a process for creating a finalized document hypertwxt to a transaction. Figure 27 illustrates the Main Menu Page of an fromm document checklist which may be used during the process of Figure 26; Figure 28 is a flowchart illustrating a process for creating a financial transaction-related document.

Figure 33 illustrates a second option of documentary compliance in which the Bank checks physical documents while NTrade checks electronic documents. Figure 34 illustrates a third option of documentary compliance in which the buyer checks physical documents while NTrade checks electronic documents; Figure 35 illustrates a general architecture of the NTrade system, including a buyer station, a seller station, a processing hub, and a credit provider system.

  HISTORIA FILOSOFIA COPLESTON PDF

Figure 37 illustrates several potential security threats, including viruses, and internal attacks. Figure 38 illustrates security features which may be used with the technical framework of the NTrade system. Figure 39 illustrates several security principles and the services which provide ro Figure 40 illustrates an embodiment of the present invention in which NTrade operates under applicable Visa Card and international commerce rules, with an avenue for dispute resolution via the ICC international court for arbitration.

Figure 41 illustrates a legal framework when the rules are set by the VTrade Enterprise. Figure 45 shows the continuation of the process for credit application and access of Figure 44. Figure 50 illustrates a process for facilitation of document checking during payment. Figure 51 illustrates continuation of the process for facilitation of document checking during vrom.

Figure 53 depicts three basic forms that eMarketplaces can take to serve different market functions. Figure 54 illustrates how the three marketplaces of Figure 53 may be brought together to create an eMarketplace; Figure 55 depicts a technical infrastructure of an eMarket.

Figure 57 is a table setting forth a process to create solutions to specific needs during a buy and sell process. Figure 58 illustrates another embodiment of the process for creating solutions to specific needs during a buy and sell process. Figure 59 illustrates an embodiment of the present invention provides that offers an integrated package of eEnabled financial services products in one or more of the five categories.

Figure 60 illustrates a TradeDirect system in accordance with one embodiment of the present invention. Figure 61 illustrates how TradeDirect may connect to outside firms to provide a wide breadth of services. Figure 63 illustrates a process for affording credit marrx and reporting utilizing a network.

Figure 64 is a flowchart of a process for approving a line of credit of a buyer utilizing a network. Figure 65 is a flowchart illustrating a process for affording a settlement function utilizing a network. Figure 66 is a flowchart that illustrates a process for affording information services while facilitating a transaction between a buyer and a seller utilizing a network; Figure 67 is a flowchart depicting a process for contracting and fulfilling a business to business trade utilizing a network according to one embodiment of the present invention.

Figure 68 illustrates a process for allowing buyers and sellers to gather information about each other. Figure 70 illustrates a process for screening a buyer before credit is given to the buyer by a credit provider.

USMMA-AA Chesapeake Chapter – Chapter Presidents Alliance

Figure 71 depicts a process for allowing a company to guard against risk before entering into a trade by allowing purchase of a risk management product. Figure 72 is a flowchart illustrates a process for initiation of an agreement utilizing a network. Figure 73 illustrates a process for initiating a transaction which includes an ePayment.

Figure 75 illustrates a process for a fransaction in which a buyer sends an ePayment. Figure 76 is a flowchart of a process for performing a direct fund transfer utilizing a network. Figure 77 illustrates a process for open accounts information in accordance with an embodiment of hypertexf present invention. Figure 78 is a flowchart illustrating a process for account settlement utilizing a network.

Figure 79 illustrates a process for financing or settling an account accordmg to one embodiment of the present invention. Figure 80 illustrates a process for procuring information during the course of a transaction in accordance with an embodiment of the present invention; Figure 81 is an illustration of the Integrated Development Environment Architecture IDEA.

Figure 82 is hypertxt illustration showing a Development Organization Framework in accordance with one embodiment of the present invention. Figure 83 is an illustration showing a security organization functional according to one embodiment of the present invention.