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:
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.
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.