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OnlineBanking | BusinessNet

TradeConnect

When it comes to cross-border transactions, safeguarding payments is a crucially important topic. For this reason, many companies rely on well-established instruments such as letters of credit, documentary collections and guaranties. Guarantees also play a very significant role in domestic business transactions within Austria. In order to support companies which use such trade finance products on a regular basis, Bank Austria now offers a new service within the framework of its proven BusinessNet portal.

TradeConnect is an additional BusinessNet module which enables you to settle your trade finance transactions on a fully electronic basis with Bank Austria. TradeConnect provides you with the optimal support for issuing, administering and processing the following products:

  • Letters of Credit (import & export).
  • Documentary Collections (import & export).
  • Collection of Foreign Bills of Exchange (import & export).
  • Domestic Guarantees.
  • Foreign Guarantees.

Of course, Back-to-Back L/C’s, forfait financing and L/C transfers are included as well. In addition, TradeConnect offers you the ability to establish an overview and statistically evaluate the status of your trade finance transactions at any time.

Requirements

A PC with Internet access is the only technical requirement you need to use TradeConnect. As a registered BusinessNet user, you can use TradeConnect once you have concluded the corresponding agreement and your account has been activated. There are no further costs.

Advantages

TradeConnect

  • …makes it possible for you to benefit from the entire range of trade finance products on a fully electronic basis.
  • …keeps costs down – so we can offer you trade finance products at even better terms & conditions.
  • …works in real-time, thereby optimizing the flow of information.
  • …provides users with an integrated management template.