SOURCE: Foodmoves.com

November 28, 2007 16:32 ET

Foodmoves.com Arranges Credit Rating Services With Dun & Bradstreet and Red Book

NOGALES, AZ--(Marketwire - November 28, 2007) - To build confidence for its buyers and sellers, Foodmoves.com, the first online auction site built specifically for the requirements of the produce industry, has elected to work with two prestigious credit rating services, Dun & Bradstreet, one of the world's leading suppliers of business-credit information, and Red Book Credit Services, one of the produce industry's premier sources of live credit and risk management.

Foodmoves.com, an Arizona-based company which launched on Oct. 13, 2007, enables produce growers and brokers in North and South America to post their produce for auction. Buyers, such as grocery chains and produce wholesalers throughout the U.S. and Canada, bid on the produce listed.

Initially, online trading is likely to impact situations where time is critical, such as turnover of rejected loads, reconditioning and reselling loads damaged in transit, and similar emergency situations.

Sellers will find online trading attractive for access to new markets, especially growers and shipper/distributors who are interested in expanding to areas beyond their usual markets.

Buyers will visit Foodmoves.com because the marketplace offers opportunities to find more and better deals -- either in price or in filling the demand for specialty produce.

Every member of Foodmoves.com has their credit checked through Dun & Bradstreet or Red Book. A seller can require that a buyer have a certain level of credit rating before agreeing to a transaction.

"In this way, Foodmoves verifies that its members are not only a legitimate part of the produce industry, but also that they are credit worthy," says Charles Slack-Mendez, one of Foodmoves' founders. "We have taken these extra steps so buyers and sellers can feel confident in their transactions."

Until the end of the year, transactions on Foodmoves.com are free to both buyers and sellers.

www.foodmoves.com

Contact Information

  • For more information, contact:
    Charles Slack-Mendez
    (602) 488-2040
    www.foodmoves.com

    Press contact:
    415-225-7970