SOURCE: TradeCard


March 10, 2010 09:15 ET

TradeCard Screens Trade Transactions Against International Watch Lists

Supply Chain Platform for Retailers, Brands and Service Providers Monitors Trade Against International Watch Lists by Scanning Each Transaction at Three Different Points

NEW YORK, NY--(Marketwire - March 10, 2010) - TradeCard, Inc., the supply chain collaboration platform of choice for more than 5,000 retailers, brands, manufacturers and service providers in over 60 countries, assists its customers in monitoring their trading partners to protect themselves from transacting with individuals that appear on the Office of Foreign Assets Control (OFAC) list issued by the U.S. Department of Treasury, as well as related international watch lists. Parties to each transaction on the TradeCard Platform are screened against these lists at three different points: registration; commencement of the transaction; and settlement of the transaction. OFAC scanning and watch list monitoring are part of TradeCard's Know Your Customer program, which includes standard processes for monitoring and understanding customers, screening transactions and identifying high risk parties.

"In today's world of complex global supply chains and supply networks, it's nearly impossible to know and monitor every supplier, trading partner or raw materials provider involved in your business," said Kurt Cavano, CEO of TradeCard, Inc. "But the frightening truth is that if you conduct business with an individual or organization that appears on a denied-party list, you may be held responsible and you may be subject to heavy penalty. We assist in coping with this burden for our customers by automatically screening transaction parties on our network against the OFAC list and related international watch lists." 

TradeCard's services and global trading partner network are delivered on a software-as-a-service platform that links together more than 5,000 buyers, suppliers and service providers. Financial services available on the TradeCard Platform help companies of all sizes to better compete by improving margin and cash flow. Multienterprise collaboration improves supply chain visibility for buyers and suppliers. TradeCard's global support team enables rapid activation of supply chain networks in as little as 90 days.

About TradeCard, Inc.
TradeCard, Inc. is the leading provider of on-demand supply chain management solutions. The TradeCard Platform synchronizes financial transactions with physical events in the global supply chain to help customers automate trade transactions from purchase order to payment and chargebacks. Buyers, suppliers and their trading partners manage transactions through a web-based platform with online financial services integrated into the workflow. This turnkey transaction management enables customers to improve margins and enhance growth, with extra-organizational supply chain visibility. TradeCard's on-the-ground trade experts throughout the world assure superior supply chain agility.

TradeCard manages global trade for thousands of users in over 60 countries, including Columbia Sportswear, Rite Aid and Wolverine Worldwide. TradeCard Inc. is headquartered in New York City and has offices in San Francisco, Hong Kong, Brussels, Taipei, Seoul, Colombo, and Shenzhen. TradeCard is located online at

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